Highlights of Union Budget 2014 * E-visas to be introduced at nine airports in India in phased manner. * Aim to achieve 7-8 per cent economic growth rate in next 3-4 years. * FDI in insurance to be increased to 49% * FDI in defence up from 26 to 49 % with Indian management and control * Reduction in excise duty for specified food package industry from 10% to 6%. * Excise duty on footwear reduced from 12% to 6% * Rs 100 crore set aside for Kisan Television to provide real time information on various farming and agriculture issues. * Encourage manufacture of LCD/LED panels of TVs. * Housing loan rebate to raised from Rs 1.5 lakh to Rs 2 lakh. * Rs 4200 crore set aside for Jal Marg Vikas project on river Ganga connecting Allahabad to Haldia , over 1620 km. * Increase investment limit under Section 80C from Rs 1 lakh to Rs 1.5 lakh. * Tax exemption limit for small and marginal, and senior tax payers changed from Rs 2.0 to Rs 2.5 lakh. For senior citizens, no tax for income up to Rs 3 lakh per annum. * Rs 1000 crore provided for rail connectivity in northeastern region. * Rs 100 crore War Memorial at Princess Park, India Gate. * In order to complete gas grid, 15000 km of additional pipeline to be developed through PPP mode. * Agriculture University in Andhra Pradesh and Rajasthan, and Horticulture University in Haryana, Telangana; Rs. 200 cr set aside by the government. * Rs 100 crore for modernization of madrassas. * 5 more IITs and 5 IIMs to be set up. * Set up four more AIIMS in Andhra Pradesh, West Bengal, Vidarbha and Purvanchal. Rs. 500 crore set aside for this. Six new AIIMS started recently have become functional. * Crisis Management Center for women at Delhi; money to be provided from Nirbhaya fund. * Govt announces Beti Padhao, Beti Badhao Yojana; sets aside Rs 100 crore for this. * EPFO will launch a unified account scheme for portability of Provident Fund accounts. * Govt committed to providing 24/7 power supply to all homes. Deen Dayal Upadhyay Gram Jyoti Yojna for electricity supply to rural areas.
Posted on: Mon, 14 Jul 2014 13:57:37 +0000
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