Highlights of Budget 2014: Fiscal deficit target retained at 4.1% of GDP for current fiscal and 3.6 for 2015-16 and 3% for 2016-17 Revenue Deficit seen at 2.9% for FY15 Aim to achieve 7-8 per cent economic growth rate in next 3-4 years: FM Committed for growth of agriculture at the rate of 4 per cent. Defence FDI cap raised to 49% from 26% at present Exemption limit on income tax from Rs. 2 lakh to Rs. 2.5 lakh. For senior citizens, the exemption on income has been raised to Rs. 3 lakh per annum. Tax-free cap on home loan interest from Rs. 1.5 to Rs. 2 lakh. No change in Income tax rates and slabs . Annual PPF ceiling to be enhanced to Rs 1.5 lakh, from Rs 1 lakh Women Safety: Outlay of Rs. 50 crores for a pilot scheme on road safety Another 150 crores to be spent by MHA on safety on women in larger cities ‘Beti Bachao, Beti Padhao Yojana’ - 100 crores Rs 3600 cr set aside for National Rural Drinking Water: FM Rural housing: Rs 8000 crore for national housing banking programme Metro rails in PPP mode; Rs. 100 cr set aside for metro scheme in Ahmadabad 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 24×7 electricity in all houses 15 Braille press to come up. Currency note with Braille-like signs Promote FDI selectively in sectors. India needs a boost in job creation in the manufacturing sector 24×7 electricity in all houses Minimum pension of Rs.1000 per month to all PP schemes. Rs 50,548 cr proposed for SC development Bharat Swach Yojna proposed for hygiene and cleanliness. Rs. 200 crore for Statue of Unity, a statue of Sardar Patel in Gujarat. Rs. 1000 cr for irrigation plan named Pradhan mantri krishi sichayin yojana. Skill India initiative to make youth employable and create more entrepreneurs. Kisan Vikas Patra to be expanded. e-visa for nine cities. Rs. 7060 cr for creating smart cities. Assam and Jharkhand to get Centre of Excellence on farming Rs. 100 crores for modernization of Madrasas 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 Senior Citizens Pension Plan Extended Till August 2015 National Adaption Fund for climate change to be set up Rs. 500 crore for price stabilization fund. 100 soil testing laboratories across the country. House resumes. Budget Speech continues. Agriculture University in AP and Rajasthan, and Horticulture University in Haryana, Telangana; Rs. 200 cr set aside An AIIMS will be created in every state. All six new AIIMS are functional. Four more AIIMS under consideration. 12 more medical colleges will be added. Rs. 500 crore allocated for this. MGNREGA programme will be made more productive Crisis Management Center for women at Delhi Start up village at Rs 100 crore to promote entrepreneurship among rural youth. Rs. 14,389 crores for PM Sadak Yojana Rs 200 crore allocated to set up six textiles clusters
Posted on: Sun, 14 Dec 2014 16:28:43 +0000
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