Dear Raju,
It all depends on ur need. According to me there are no projects currently developed in 1.5v. So u r safe if u know 1.4 itself. Wat counts is ur score in exam and nothing else.
Then coming to the exam 1.5 syllabus is larger than 1.4, also in the exam they
test ur coding ability. There is no test on ur memory which means that no or veryless direct questions. Every question needs application. So it is safer to take 1.4 now. If u need 1.5 at later stages go for updation exam.