Nirmala Sitharaman, country's first full-time woman finance minister, while presenting her maiden budget on Friday in the Parliament said India is aiming to become a $3 trillion economy this financial year while unveiling key proposals for this financial year.

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Unlike her predecessor, Sitharaman carried a 'bahi khatta,' a traditional account ledger which contained the budget papers, instead of a budget briefcase.

Here are the 7 key highlights of her budget speech:

Sitharaman proposes to bringing down fiscal deficit target to 3.3% of GDP in 2019-20 instead of 3.4% of GDP envisioned earlier

The government has cut the fiscal deficit target to 3.3 percent of GDP in 2019-20 instead of 3.4 percent of GDP envisioned earlier

The government will allocate Rs 70,000 crore for PSU bank recapitalisation this financial year.

The government cut the corporate tax rate to 25 percent for nearly all companies.

The government said there will be a two percent tax-deduction at source (TDS) on cash withdrawals exceeding Rs 1 crore, in a year, if done from one bank account.

It also announced that Rs 100 lakh crore would be invested into the infrastructure sector over the next five years while highlighting the need for public-private partnerships to ensure delivery of projects.

The government has proposed to increase the minimum public shareholding to 35 percent from 25 percent.

The government increased the import duty on gold and precious metals to 12.5 percent from the earlier 10 percent.