Finance
Minister Arun Jaitley detailed his budget for 2014-15 today, the first
under Prime Minister Narendra Modi's new government.
Here are the highlights of Budget 2014:
1.Fiscal deficit for 2014-15 pegged at 4.3% and for next year at 3%
2.Revenue Deficit seen at 2.9% for FY15
3.Aim to achieve7-8 percent economic growth rate in next 3-4 years: FM
4.Committed for growth of agriculture at the rate of 4 per cent.
5.Defence FDI cap raised to 49% from 26% at present
6.Exemption limit on income tax from Rs.2 lakh to Rs. 2.5 lakh.
7.For senior citizens, the exemption on income has been raised to Rs.3 lakh per annum.
8.Tax-free cap on home loan interest from Rs. 1.5 to Rs. 2 lakh.
9.No change in Income tax rates and slabs .
10.Annual PPF ceiling to be enhanced to Rs1.5 lakh, from Rs 1 lakh
11.Women Safety:
i.Outlay of Rs. 50 crores for a pilot scheme on road safety
ii.Another 150 crores to be spent by MHA on safety on women in larger cities
iii.'Beti Bachao, Beti Padhao Yojana'- 100 crores
12.Rs 3600 cr set aside for National Rural Drinking Water: FM
13.Rural housing: Rs 8000 crore for national housing banking programme
14.Metro rails in PPP mode; Rs. 100 cr set aside for metro scheme in Ahmadabad and Lucknow
15.Each year government will be adding AIIMS to ensure there is an AIIMS in every state: Jaitley
Here are the highlights of Budget 2014:
1.Fiscal deficit for 2014-15 pegged at 4.3% and for next year at 3%
2.Revenue Deficit seen at 2.9% for FY15
3.Aim to achieve7-8 percent economic growth rate in next 3-4 years: FM
4.Committed for growth of agriculture at the rate of 4 per cent.
5.Defence FDI cap raised to 49% from 26% at present
6.Exemption limit on income tax from Rs.2 lakh to Rs. 2.5 lakh.
7.For senior citizens, the exemption on income has been raised to Rs.3 lakh per annum.
8.Tax-free cap on home loan interest from Rs. 1.5 to Rs. 2 lakh.
9.No change in Income tax rates and slabs .
10.Annual PPF ceiling to be enhanced to Rs1.5 lakh, from Rs 1 lakh
11.Women Safety:
i.Outlay of Rs. 50 crores for a pilot scheme on road safety
ii.Another 150 crores to be spent by MHA on safety on women in larger cities
iii.'Beti Bachao, Beti Padhao Yojana'- 100 crores
12.Rs 3600 cr set aside for National Rural Drinking Water: FM
13.Rural housing: Rs 8000 crore for national housing banking programme
14.Metro rails in PPP mode; Rs. 100 cr set aside for metro scheme in Ahmadabad and Lucknow
15.Each year government will be adding AIIMS to ensure there is an AIIMS in every state: Jaitley
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