Union Budget 2014-15 Highlights

Union Budget 2014-15 Highlights

Rs 37,800 crores proposed for NHAI and State Highways, and Rs 3,000 crores for roads in North East Pension scheme for senior citizens being revived Spl plan for SC & ST Deen Dayal Upadhaya Gram Jyoti Yojana to be launched to augment power supply in rural areas Open market sale of food grains, wherever required Community radio stations & Kisan TV for farmers Rs 500 crore to set up four more AIIMS Rs. 2037 crores for Ganga cleaning Rs 100 crore for Madrasa modernisation Pilot scheme for safety of women in public transport Beti Bachao-Beti Padhao Yojna announced Mobile phones & online advertisements within tax net Aerated drinks to be more expensive Cigarettes to cost more, excise duty hiked from 11% to 72% Personal computers, electronic goods to be cheaper Proposal to make CRT TVs cheaper Basic customs duty on LED panel below 19 inch removed Soaps and oil products to become cheaper Excise duty on footwear reduced from 12% to 6% Excise duty concessions to continue till 31st Dec Annual deposit under PPF scheme raised from Rs. 1 lakh to 1.5 Lakhs National industrial corridor to be set up with Pune at centre Banks to give long term infra loans 10-year Tax holiday for power sector to continue Single D-mat A/c for all financial transactions Rs. 4200 crores for Ganga project river connectivity from Allahabad to Haldia Five IITs and five IIMs to be set up Tax relief for interest on housing loan raised from Rs. 1.5 lakh to 2 lakh Deduction under 80C increased from Rs.1 lakh to Rs. 1.5 lakh Education cess to continue at 3% No change in surcharge Personal Income Tax exemption ceiling raised from Rs 2 lakh to Rs. 2.5 lakh; for senior citizens to Rs 3 lakh No change in Direct Tax rates War Memorial to be set up at Princess Park, New Delhi Pending Insurance Amendment Bill to be taken up in Parliament 15000 KM of additional pipeline through PPP mode to complete Gas Grid Govt to examine proposal to give additional autonomy to banks Rs 1,000 crore for one rank one pension policy adopted by govt Committed to 4% growth in agriculture Six debt recovery tribunals to be set up Ultra modern solar power projects to be set up Rs 11,635 crores for habour projects Rs 10,000 crores set aside for start up firms Mumbai infra corridor to be completed on schedule Investment in mining sector to be encouraged Financial sector to be at heart of economic growth Rs 200 crore for Sardar Patel statue project in Gujarat Rs 1000 crores proposed for Pradhanmantri Krishi Seechai Yojana to improve irrigation facility Rs 30 crore for setting up Hasthkala Academy for revival of handicrafts MSME definition to be revised for high capital ceiling Effective steps to be initiated to revive SEZs Total sanitation by 2019 Rs 14,389 crore announced for Pradhan Mantri Gram Sadak Yojna, PMGSY Over Rs 7000 crore for creating smart cities Rs 1,785 crore for road under-bridges & over-bridges New Agri univs for AP and Rajasthan and Horticulture univs for Haryana, Telangana Rs 4,000 crore for National Housing Bank for flow of cheap housing finance Government to print currency notes with braille-like signs to help the blind GST to be introduced soon; legislation process to be completed this year Slum development to be included in CSR activities Rs 3600 crore for National Rural Drinking Water programme FDI in defence sector proposed to be hiked to 49 percent Composite cap on FDI in insurance proposed to be raised from 26% to 49% High panel to review retro-tax cases 15 Model Rural Health Research centers for rural health issues 12 more govt medical colleges proposed with dental facilities Reducing fiscal deficit to 4.1 % daunting: FM National multiscale Skill India programme to provide training and support for employment E-Visa facility to be started in a phased manner at 9 airports to promote tourism 15 new Braille presses to be established; 10 existing to be revived Government to leave no stone unturned to create a vibrant India New urea policy will be formulated Govt aims to achieve 7- 8 % economic growth rate in next 3-4 years Centre looks forward to low inflation regime