UNION BUDGET 2014-15

UNION BUDGET 2014-15

Union Finance Minister, Mr. P Chidambaram on 17 February 2014 presented Interim Budget 2014-15 in the Lok Sabha. Excise duty on cars, two-wheelers, SUVs and capital goods and consumer durables has been slashed to boost the manufacturing and growth.

Highlights of the Union Budget 2014-15

Highlight 1: Cabinet approves Interim Budget for 2014-15.

Highlight 2: India not unaffected by events in global economy.

Highlight 3: Challenges we face common to emerging economies.

Highlight 4: Fiscal defict to be contained at 4.6 per cent.

Highlight 5: CAD will be contained $45 million.

Highlight 6: Core inflation at 3 per cent. Food inflation remains a key worry.

Highlight 7: Too many obstacles in implementing projects.

Highlight 8: Exports have recovered sharply.

Highlight 9: Exports estimated at $326 billion in current fiscal.

Highlight 10: Over 29,000 MW of power capacity added during fiscal.

Highlight 11: Construction underway for 50,000MW of conventional power.

Highlight 12: National manufacturing policy is set to revive manufacturing in 2014.

Highlight 13: Agriculture GDP growth expected at 4.6 per cent in current year.

Highlight 14: Two projects sanctioned under Nirbhaya Fund; original Rs 1,000 crore made non-lapsable; another Rs 1,000 crore granted.

Highlight 15: Among emerging economies, rupee affected least.

Highlight 16: Growth in Q3 and Q4 FY14 will be at least 5.2 per cent.

Highlight 17: Growth needs to be more inclusive.

Highlight 18: 296 projects worth Rs 6,60,000 crore cleared by Cabinet Committee on Investment by end January 2014.

Highlight 19: Agriculture credit will cross $45 billion against $41 billion in 2012-13.

Highlight 20: Foodgrain production estimated at 263 million tons in 2013-14.

Highlight 21: Reject the arguement of policy paralysis.

Highlight 22: Foreign exchange reserves up by $15 billion.

Highlight 23: FDI policy has been liberalised to attract larger investment.

Highlight 24: P Chidambaram promises 1 million jobs.

Highlight 25: UPA's growth story unparalleled.

Highlight 26: 50,000 MW of thermal power under construction.

Highlight 27: Govt remains fully committed to Aadhar.

Highlight 28: Those at the bottom of the pyramid need Aadhar.

Highlight 29: Seven new airports under construction.

Highlight 30: Over Rs 45000 cr allocated for scheduled caste sub-plan.

Highlight 31: Budgetary support to railways at Rs 29,000 crore in 2014-15.

Highlight 32: Non-plan expenditure in 2014-15 estimated to be over Rs 10 lakh crore.

Highlight 33: Plan expenditure at Rs 5 lakh 55,322 crore in 2014-15.

Highlight 34: Defence allocation for FY15 increased by 10 per cent.

Highlight 35: Govt approves one rank one pay for retired jawans.

Highlight 36: Proposes Rs 11,200 crore for capital infusion in PSBs.

Highlight 37: PSU banks got more than 25 lakh student loan accounts in 2013.

Highlight 38: Propose a moratorium period for some education loans.

Highlight 39: Budgetary support to railways raised to 29,000 cr.

Highlight 40: CAD can only be addressed by foreign investment.

Highlight 41: Govt is dedicated to keeping Indian economy in robust health.

Highlight 42: Three more industrial corridors announced.

Highlight 43: Rs 65,000 crore for fuel subsidies.

Highlight 44: All taxes on exports to be waived for manufacturing sector.

Highlight 45: Community radio to be promoted with Rs 100 crore.

Highlight 46: Focus on building up manufacturing capacity.

Highlight 47: Disappointed that we have not been able to introduce DTC.

Highlight 48: Cars to be cheaper as FM proposes to reduce excise duty on automobiles. Excise duty on small cars, motorcycles reduced from 12% to 8%.

Highlight 49: FM reduces excise duty on capital goods from 12% to 10%.

Highlight 50: Excise duty on SUVs reduced to 24%, on large cars to 20%.

Highlight 51: Soaps, TV, fridge to be cheaper now.

Highlight 52: 6 pc excise duty for all mobile phones.

Highlight 53: Growth for next year should be 5 per cent.

Highlight 54: Populism is not our way of governance.

Highlight 55: No change in income tax rates.

Do you know: This was the 83rd budget of the Union Government and 9th personal budget by Mr. P. Chidambaram as Finance Minister.

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