New Delhi: Proposing to hike the tax exemption limit by Rs.50,000 for all individuals, Finance Minister Arun Jaitley Thursday presented the national budget for this fiscal with concerns over economic slowdown while promising bold corrective measures to unburden the poor from rising prices, revive investor confidence and cut excessive expenditure.

"People of India have voted decisively for change," Jaitley said in what was the maiden budget for himself and Prime Minister Narendra Modi's government. "Steps I unveil in the budget aim at 7-8 percent growth over the next three-four years, lower inflation, less fiscal deficit and a manageable current account deficit."