Major Highlights - Union Budget 2014-15

Posted on    10 July 2014

• Government committed to achieve fiscal deficit of 4.1% for 2014-15.


• Subsidy Regime to be made more targeted for full protection to the marginalized, poor and SC/ST.


• Government to promote FDI selectively in sectors.


• Rs 1000 crore provided for "Pradhan Mantri Krishi Sinchayee Yojna".


• Rs 500 crore for “Deen Dayal Upadhyaya Gram Jyoti Yojana”.


• Rs. 150 crores for increasing safety of women in large cities.


• "Swachh Bharat Abhiyan" to cover every household with Sanitation facility by the year 2019.


• Aiims like institutions in Andhra Pradesh, West Bengal, Vidarbha in Maharashtra and Poorvanchal in UP.


• 5 IIMs to be opened in HP, Punjab, Bihar, Odisha and Rajasthan.


• Sustainable growth of 4% in agriculture to be achieved.


• Rs.500 crore “Price Stabilization Funds” for mitigating the risk of price volatility in agriculture produce.


• Development of industrial corridors with emphasis on smart cities linked to transport connectivity.


• Skill india to be launched to skill the youth with an emphasis on employability and entrepreneur skills.


• Scheme for development of new airports in Tier I and Tier II cities to be launched.


• Target of NH construction of 8500 km in current financial year.


• General budget 2014-15 a further sum of Rs.1000 crore to meet requirement for "One rank One pension".


• Rs. 200 crore provided for the statue of unity (National Project).


• Rs. 500 crore provided for developing 5 tourist circuits around Specific themes.


• Rs. 2037 crores provided for integrated ganga conservation Mission “Namami Gange”.


• Rs. 100 crore for ghat development and beautification at Kedarnath, Haridwar, Kanpur, Varanasi, Allahabad, Patna, Delhi.


• Rs. 200 crore for power reforms and Rs. 500 crore for water reforms to make delhi a truly world class city.


• Rs. 500 crore provided to support kashmiri migrants for rebuilding their lives.


• Personal income-tax exemption limit raised by Rs. 50,000;


• Investment limit under section 80c of income-tax act raised to Rs. 1.5 lakh.


• Deduction limit on account of interest on loan in respect of self occupied house property raised from Rs.1.5 lakh to Rs. 2 lakh.


• Government committed to implement GST at the earliest. Issues raised by the states to be resolved.


To know further in details, find the enclosed attachment.

Attached File : 40_14168_file1.pdf

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