New Delhi [India], Feb 1 (ANI): Finance Minister Arun Jaitley is presenting the Union Budget for financial year 2017-18. Highlights of the Union Budget are as follows: •Propose to reduce existing rate of taxation of those with income between 2.5 lakh to 5 lakh from 10% to 5%. •Surcharge of 10% for those whose annual income is Rs 50 lakh to 1 crore •15% surcharge on incomes above Rs 1 crore to continue.(ANI)