The surcharge on individuals, Hindu Undivided Families (HUF), associations of persons (AOPs), bodies of individuals (BOI)s, artificial juridical persons, firms, cooperative societies and local authorities having income earning ₹1 crore or more, was raised from 10% to 12%.

[5][6] The permitted deduction limit was raised up to ₹25,000 towards health insurance for ordinary citizens, an increase from previous ₹15,000.

[9][7] It was announced that premature withdrawal from pension funds, if service period is less than 5 years, will result in deduction of tax at source.

[10] It announced that corporate tax rate will be gradually reduced from 30% to 25% over the period of 4 years, starting in April 2016.

[11] It was announced that donations made to Swachh Bharat Abhiyan and Clean Ganga plan under corporate social responsibility will get 100% deduction.

[17] Lottery ticket sellers and chit fund agents were brought under the ambit of service tax.

[7] Pre-cooling, ripening, retail packing and labelling of vegetables and fruits were exempted from service tax.

Visits to music concerts, amusement and theme parks were brought under the ambit of service tax.

Visits to museums, zoos, national parks, wildlife sanctuaries and tiger reserves were exempted service tax.

[8] Two new insurance schemes and a pension fund were announced to improve the social security of the poor citizens.

Pradhan Mantri Jeevan Jyoti Bima Yojana is a life insurance scheme with an annual premium of ₹330, it will pay ₹2 lakh in case of death.

The duty on locally manufactured mobile phones, LED/LCD panels, LED lights and lamps was reduced.

[26] A scheme called Nayi Manzil was announced which will help minority youth without school-leaving certificate to find employment.

[27] Five new All India Institutes of Medical Sciences (AIIMS) were announced for Jammu and Kashmir, Punjab, Tamil Nadu, Himachal Pradesh and Assam.

[29] A networked system called the Student Financial Aid Authority was announced which would monitor the allocation of scholarships and educational loans under the Pradhan Mantri Vidya Lakshmi Karyakram.

[36] The SARFAESI Act will be expanded to cover non-banking financial institutions (NBFC) which will make it easier for them to recover non-performing assets (NPA).

[45] Prime Minister Narendra Modi of BJP political party called the budget progressive and positive.

Home Minister Rajnath Singh of BJP called the budget an important step towards building a modern India.

Former Prime Minister Manmohan Singh of INC said that the budget had good intentions but lacked a proper road map.

[47] Tarun Gogoi, Chief Minister of Assam, called the budget pro-rich and pro-corporate and criticised it for the lack of benefits for North East India.

[50] Kishore Biyani, CEO of Future Group, said new service tax rate may discourage consumption.