Senior citizens to have Aadhaar-based health card

New Delhi: Finance Minister Arun Jaitley announced that senior citizens will have Aadhaar-based health card.Senior citizens are set to get Aadhar-based health cards and also earn 8 per cent interest on savings through LIC, Finance Minister Arun Jaitley announced on Wednesday.

Unveiling the budget in Parliament, Jaitley said the LIC earnings will have assured income for 10 years.

He also announced setting up of Railways safety fund of Rs 1 lakh crore over 5 years.

He also said that affordable housing will be given to infrastructure status.

He also announced to set up single autonomous authority to conduct entrance exams.

Just ahead of the presentation, a meeting of the Cabinet presided over by Prime Minister Narendra Modi, gave its consent to the proposals. Prior to that, the top brass of the Finance Ministry, led by Jaitley met with President Pranab Mukherjee for his approval. 

This is the first time the date of presentation has been advanced by nearly a month, even as it co-opts the Railway Budget into it, abandoning the practice that was started in 1924.

Individual tax payers are hoping for both a hike in the exemption limit and deductions under Section 80CC of the Income Tax Act, while the industry has sought a further rationalisation of corporate tax, excise and customs duty.