The Budget for 2012 is being finalised by the Finance Minister Pranab Mukherjee which will be presented this time in March instead of February last due to the elections in UP and announcement of results in March first week for the 4 states where elections have taken place.

It is understood that there is a proposal to increase the tax exemption limit from the present Rs. 1.5 lakh to Rs. 2 lakh in the Budget. If the sharp increase in the prices of essential commodities are taken in to consideration due to which the expenses have increased, the tax exemption list should be higher.