While equities, insurance and debt instruments are the basic components of any asset allocation mix, a working woman's ideal portfolio will also depend on her risk appetite and financial goals

On the bright side, the Interim Budget puts more disposable income in the hands of the middle class, farmers and the workers in the unorganised sector and is expected to boost the economy with a spur in demand and consumption. 

Here are the best options that you can use to optimise tax savings.

Zero tax on taxable income of up to Rs 5 lakh to provide relief to a big section of the tax-paying population.

If you make right investments utilising several tax saving clauses under the Income Tax Act, you can save yourself from paying tax on up to Rs 10 lakh annual income.

The government has proposed to give full tax rebateto individuals having taxable annual income up to Rs 5 lakh with a view tobenefitting around 3 crore middle class taxpayers at an estimated revenuesacrifice of Rs 18,500 crore.

Interest from bank and post office deposits earned up to Rs 10,000 during a financial year was tax exempt. This limit has been increased from Rs 10,000 to Rs 40,000

The latest budget proposes to extend the Section 87A rebate to taxpayers with net taxable income up to Rs 5 lakh. The rebate amount now ranges from Rs 2,500 to Rs 12,500 depending on the tax bracket.

Speculation was rife that it would be high on appeasing the middle-class, a significant vote bank as well as the biggest chunk of taxpayers, and Goyal certainly met expectations

This being the Modi government's last budget before the general elections in summer, speculation is rife that tax sops, new schemes and tax changes are in the offing

The buzz is that the government may give in to this demand in the upcoming budget, especially given its focus on healthcare.

There has been increase in demand for affordable housing, and the BJP government could try everything possible to appease its biggest vote bank -- the middle class.

With participation of women in the workforce dropping from 32% in 2016 to 23% in 2018, the clamour for gender-sensitive policies is growing. In addition, speculation is rife that income tax sops will be rolled out.

Salaried class may hope for a surge in the existing basic exemption limit from Rs 2.5 Lakh to Rs 3 lakh if not Rs 5 lakh, and many predict that Goyal will deliver this on February 1. Government may increase deduction limit under Section 80C from Rs 1.5 lakh to Rs 2 lakh.

A home loan is eligible for tax deduction under Section 80C. Buying a house on a loan can provide you with several tax benefits. So how can you avail these deductions and reduce your tax outgo. Naveen Kumar, Deputy Editor, Money Today speaks to  Rishi Mehra, CEO, Wishfin.com to get his views

Salaried individuals may hope for a surge in the existing basic exemption limit from Rs 2.5 Lakh to Rs 3 lakh for individuals less than 60 years of age, Rs 3.5 lakh for senior citizens.

There is a need for the education system to be transformed, with significant investments and by implementing measures focussed on improving quality.