pramitsingh30
Par 100 posts (V.I.P)
Highlights of the Union Budget 2014-15
- Basic custom duty on LCD and LEDs below 19 inch reduced to zero from 10 per cent.
- Imported electronics goods to cost more. A cess to be introduced
- Sugary carbonated drinks to get costlier
- Cigarettes, gutkas, cigars to cost more
- CRT TVs exempted from customs duty to help poor
- No change in income tax rates;
- personal income tax exemption limit raised from Rs 2 lakh to Rs 2.50 lakh
- Propose to increase investment limit under Section 80C from Rs 1 lakh to Rs 1.5 lakh
- Tax exemption on interest component on housing loan raised to Rs 2 lakh from Rs 1.5 lakh
- Tax exemption limit for senior citizens changed from Rs 2.5 lakh to Rs. 3 lakh
- 10 year tax holiday for power companies who start production and distribution on March 31, 2017
- Revenue deficit pegged at 2.9 per cent of GDP
- Budget proposes Plan expenditure of Rs 5,75,000 crore for current ficsal.
- Annual PPF ceiling to be enhanced to Rs 1.5 lakh, from Rs 1 lakh
- Airports to be developed in tier 1 and 2 cities, 16 new port projects to be awarded this year
- Investment in NHAI and state highways to the tune of Rs 37,887 crore, including Rs 3000 crore for North East
- Govt committed to providing 24x7 power supply to all homes: FM
- Single KYC norms for all financial services and one demat account for all financial products
- Rs 500 crore for solar power development project in Tamil Nadu and Rajasthan
- Rs 11,600 cr for developing outer harbour projects Rs 11,600 cr for developing outer harbour projects
- Mining issues to be resolved on priority
- Govt proposes to set up 100 smart cities.
- Govt to provide Rs 7,060 crore for development of such cities:
- 20 new industrial clusters announced
- We will examine proposal to give greater autonomy to banks: FM.
- Budget proposes 49 per cent FDI in insurance through FIPB route
- Propose to provide finance to 5 lakh landless farmers through NABARD
- Manufacturing units will be allowed to sell their products through retail and e-commerce: Jaitley.
- Committed to sustaining 4% growth in agriculture, extend credit to joint farming groups
- Rs 500 crore allocated for stabilizing prices of agricultural commodities
- Rs 3600 cr set aside for National Rural Drinking Water: FM
- We will examine proposal to give greater autonomy to banks: FM.
- Budget proposes 49 per cent FDI in insurance through FIPB route
- Propose to provide finance to 5 lakh landless farmers through NABARD
- Manufacturing units will be allowed to sell their products through retail and e-commerce: Jaitley.
- Committed to sustaining 4% growth in agriculture, extend credit to joint farming groups
- Rs 500 crore allocated for stabilizing prices of agricultural commodities
- Rs 3600 cr set aside for National Rural Drinking Water: FM
- Rural housing: Rs 8000 crore for national housing banking programme
- FM announces development of Metro rails in PPP mode; Rs. 100 cr set aside for metro scheme in Ahmedabad and Lucknow
- Each year government will be adding AIIMS to ensure there is an AIIMS in every state: Jaitley
- Rs 100 crores to set up virtual classrooms
- Rs 500 crores for setting up 5 more IIMs and IITs
- FM Proposes to enhance the scope of income tax settlement commission
- Rs 7,060 crore allocated for building new cities
- Jaitley announces e-visas to promote tourism
- The government is committed to the welfare of scheduled castes and tribes.
- Rs 200 crores credit scheme for start-ups by those from scheduled castes and tribes
- Government is committed to providing 24x7 electricity in all houses
- Jaitley announces Skill India, a programme to train youth for jobs
- Equity in PSU banks to be raised through share sale to the public
- Rural housing: Rs 8000 crores for national housing banking programme
- MGNREGA programme to made more productive
- Women's safety: Rs 100 crores for Beti Bachcao, Beti Padhao Yojana
- Senior Citizens Pension Plan Extended Till August 2015
- Aim to achieve 7-8 per cent economic growth rate in next 3-4 years: FM
- We need to revive growth particularly in manufacturing sector and infrastructure: FM
- Anti-poverty programmes will be targeted well.
- Will leave no stone unturned to create a vibrant India: FM.
- Should not allow economy to suffer because of indecisiveness and populism: Finance Minister Arun Jaitley
- Finance Minister emphasizes on fiscal prudence, need to generate more resources
- Target of 4.1 per cent fiscal deficit is daunting but accepting it as a challenge: FM
- Defence FDI cap raised to 49% from 26% at present
- Promote FDI selectively in sectors. India needs a boost in job creation in the manufacturing sector
- All retro tax cases to be scrutinized by a high-level committee
- Arun Jaitley said the Budget is a beginning of journey to return to 7-8% growth.
- Fiscal deficit for 2014-15 pegged at 4.3% and for next year at 3%
- Poor suffer the most, we have to ensure anti-poverty programmes are well targeted.
- Tax-GDP Ratio Must Be Improved, says Jaitley