by manish verma the finance minister had the vision to clearly see what can derail the middle class party casual attitude towards future and outoftheblue medical expenses he has increased the deduction for investments in pension fund from rs 1 lakh to rs 15 lakh by increasing the contribution allowed in pension category under section 80ccd he categorically told he wishes to see india as pensioned society he introduced 3 schemes pradhan mantri suraksha beema yojana rs2 lac personal accident cover at rs12 per year premium atal pension yojana encouraging by contribution of 50 from government side and pradhan mantri jeevan jyoti yojana life insurance cover at just rs330 per year premium another increase he has made is in the deduction of health insurance premium payment from earlier only rs15000 allowed the same has been increased to rs25000 senior citizens and differently abled have been provided even more benefit transport allowance too has been doubled from rs800 per month to rs1600 per month while he is seen ring fencing insuring the potential downside of a middle class family replacing pension for income in old age insuring health of medical emergencies he is also seen throwing a challenge to our young demography to come out in the market create jobs he has announced rs1000cr as startup fund specially focussing on itenabled products services giving a glimpse on anti black money bill that he wishes to table in the current session he looks to have taken an aggressive stance against not only such entitiesm but also against the facilitators like banks etc of such transactions he also spoke to about making india cash less by aggressively pushing rupay debitcredit cards by incentivizing its use disincentivizing usage of cash his plans on monetizing gold kept with public may mean just slightly more money at the hands of an average household all this bodes well for growing india the author is an independent professional in the field of financial consulting views and recommendations expressed in this section are his own and do not represent those of economictimescom