The BJP on Monday came out with its wish-list for the upcoming Union Budget, demanding that the income tax exemption limit be increased to Rs 150,000 and the interest rates on housing, education and agricultural loans be reduced.

The saffron party also expressed concern over the volatility of the stock market, saying the government should immediately expose the people behind the upheaval and prevent recurrence of such an event affecting small investors.

In his presidential address at the party's two-day National Council meet, which began on Monday, BJP Chief Rajnath Singh said, "The income tax exemption limit should be raised to Rs 150,000 to provide relief to tax-payers." He demanded that the interest rate on housing and education loans be brought down to 2004 levels, when the NDA was in power and that on agricultural loan to be reduced to four per cent.

Expressing concern over rising property rates, the party demanded the setting up of a `Real Estate Regulatory Authority'. "Housing is a basic human need. This sector cannot be left unregulated or uncontrolled. To bring about healthy competition in this sector and also to ensure that the common man is assured the availability of a house, the BJP is demanding the setting up of a `Real Estate Regulatory Authority," Singh said.

On the stock market fluctuations, he said, "The Government should immediately investigate and find out who are the people behind the upheaval in the share market, what are their objectives, who are the main beneficiaries and also how the government is planning to compensate the billions of rupees that small investors have lost in the process."

The BJP chief said the government needs to ensure that a repeat of such an event does not take place and a handful of people are not able to manipulate the entire market in the future.

"Such volatility impacts the small investors the most and creates doubts in their minds," he said and voiced concern about the role of Foreign Institutional Investors and funds coming into the Stock Market through the Participatory Notes route.

Ridiculing the Centre's assertion that the country was progressing at a fast pace economically, he said in the past three years and eight months, prices have consistently been increasing, interest rates for housing loans have increased and the condition of farmers was pitiable.