2014 Budget Highlights
Finance Minister Arun Jaitley 2014 Budget, 2014 Budget Highlights, what is in 2014 Budget, 2014 Budget in detailed, Budget 2014 updates, 2014 Budget live, Highlights of Union Budget 2014
Mr Jaitley presented the Modi’s government first Union Budget 2014 in Parliament today.
Here are the highlights of Budget 2014:
Finance Minister Arun Jaitley ends his maiden budget presentation
Service Tax for broadcast and online advertisements, and print advertisements exempted: Jaitley
FM exempts loading/unloading and transportation of cotton from service tax
Negative list for service tax has been reviewed: Jaitley
Service tax included on radio taxis at the same level as rent-a-cab
Solar Power equipment manufactured in India to become cheaper: FM
Tax on cigarettes hiked by 72 percent
Clean Energy cess increased from Rs 50/ tonne to Rs 100/tonne
5% excise duty on aerated drinks containing sugar
Cigarettes, tobacco products to get expensive
FM announces increased excise duty on tobacco products
2.5 percent Customs duty on diamond, semi-precious stones
Excise duty on footwear has been reduced from 12% to 6%
FM announces reduction in excise duty for specified food package industry from 10% to 6%
Coal duties to be rationalised to reduce disputes
Export duty on bauxite enhanced from 10% to 20%
10 percent customs on telecom products outside the purview of IT sector
FM announces several tax rational measures
Basic custom duty on LED panel below 19 inches made nil
FM announces proposals to make CRT TVs cheaper
Personal computers, electronic goods to be cheaper
Basic customs duty on non-fatty acids, glycerine to be reduced
Net effect of direct tax proposals is revenue loss of Rs 22,200 crore: FM
60 more Ayakar Sewa Kendras to be set up across the country: FM
FM announces measures to boost domestic manufacturing sector, says the sector has been under stress
10-year tax holiday for power generation and transmission companies
Asset fund managers encouraged to set up shop in India, income to be treated as capital gains
FM provides investment allowance at 15% for 3 years to manufacturing company which invests over Rs 25 crore in plant and machinery
FM proposes to increase investment limit under Section 80C from Rs 1 lakh to Rs 1.5 lakh
Housing loan interest exemption increased to Rs 2 lakh from Rs 1.5 lakh
No change in surcharge, education cess: Jaitley
Tax exemption limit to be raised by Rs 50,000 for citizens under 65 years: Arun Jaitley
I do not propose to make any changes in tax rate: Jaitley
FM announces Rs 150 crore for communication needs of Andaman & Nicobar Islands
FM proposes Rs 200 crore for power reforms and Rs 500 crore for water reforms in Delhi
Government committed to development of Telangana and Andhra Pradesh: FM
FM gives Rs 100 crore for Varanasi-Gaya-Saranath Buddhist circuit
North East to get a separate TV channel: Jaitley
Organic farming will be promoted in North East
National Centre for Himalayan Studies will be set up in Uttarakhand: FM
Young Leaders Programme to be set up with Rs 100 crore
Sports University to be set up in Manipur
Rs 200 crore set aside for upgradation of indoor, outdoor stadiums in J&K to international standards
Govt will set up national sports academy for different sports in different parts of India
NRI fund for conservation of river Ganga to be set up: Arun Jaitley
Biotech clusters to be set up in Bengaluru, Faridabad to take science and technology to new heights
FM announces “Namami Ganga”, an integrated Ganga Development Project; Rs 2,037 crore set aside
World Class Convention facility to be developed through PPP model
FM proposes to set up Trade Facilitation Centres for Varanasi
Rs 100 crore for a detailed study in river linking: Jaitley
Rs 5,000 crore will be set aside for defence outlay over and above amount provided under interim budget: FM
Pending Insurance Amendment Bill to be taken up in Parliament: FM
Rs 990 crore for development of villages along the border: FM
Rs 50 crore for construction of National Police Memorial: Jaitley
PPF annual ceiling increased from Rs 1 lakh to Rs 1.5 lakhs
Rs 100 crore set aside for development of Technology Development Fund
Rs 1,000 crore proposed for `One Rank, One Pension` policy
FM says will take measures to revitalise small savings schemes
War memorial will be constructed at Princess Park; Rs 100 crore set aside
Govt will work out measures for revival of other stressed assets: FM
FM aspires to provide all households with banking facilities to empower weaker sections
Urgent need to converge current Indian standard with international accounting standards: FM
Rs 100 crore for cleaner thermal power technology
FM says to introduce amendments to Mining Act
In order to complete gas grid, 15,000 km of additional pipeline to be developed: FM
New airports to be developed through PPP model: FM
Ultra modern power projects to be taken up in Rajasthan, Tamil Nadu, Ladakh with Rs 500 crore
Rs 4,200 crore set aside for Jal Marg Vikas project on River Ganga connecting Allahabad to Haldia: FM
Rs 37,800 crore for NHAI and State Highways and Rs 3,000 crore for roads in North East: FM
Rs 11,000 crore for development of ports: FM
FM proposes to set up `hastkala academy` for revival of handicraft, Rs 30 crore set aside
Rs 200 crore for 6 more textile clusters in Rae Bareily, Lucknow, Surat, Bhagalpur
National industrial corridor to be set up with corpus of Rs 100 crore: FM
MSMEs are backbone of economy; to be revived through a Committee: FM
Effective steps to be taken to revive SEZs: FM
Apprentice Act to be suitably amended to strengthen Apprentice Training Scheme: FM
FM proposes to set up Industrial Smart Cities in 7 cities
All govt departments, ministries to be integrated through e-platform by December 31, 2014
Rs 100 crore for Kisan Television to provide real time information on various farming and agriculture issues
FM allocates funds for setting up 2000 producers` organisations across the country
Rs 5,000 crore short time rural credit refinance fund for 2014-15: FM
Additional tax incentives for housing loan: Jaitley
Fiscal deficit to be brought down from 4.1 to 3.6 percent: Jaitley
Govt will initiate scheme to provide a soil health card; Rs 100 crore set aside
FM proposes to provide finance to 5 lakh landless farmers through NABARD
Manufacturing units will be allowed to sell their products through retail and e-commerce: Jaitley
FM proposes to set up National Adaption Fund for climate change
Rs 100 crore has been allocated for modernisation of Madrasas
Rs 15,000 crore allocated for urban renewal, which will address drinking water, use of recycled water
Metro projects for cities with over 20 lakh population must begin now: FM
Rs 100 crore set aside for Community Radio Centres: FM
FM proposes National Rural Internet and Technology Mission; Rs 500 crore set aside
FTII Pune will be accorded the status of institute of national importance: Jaitley
Jaitley announces Crisis Management Center for women at Delhi
Five more IITs and five more IIMs will be set up: Arun Jaitley
Iraq crisis having impact on oil prices: FM
Jaitley proposes 12 more Government Medical colleges with dental facilities
Rs 3,600 crore set aside for National Rural Drinking Water: FM
Propose to set up 4 more AIIMS; Rs 500 crore set aside for this: FM
FM announces Backward Regional Grant Fund to address inter regional inequalities
FM proposes National Housing Banking programme; sets aside Rs 8,000 crore for this programme
School curriculum to have new chapter on gender sensitisation: FM
MNREGA will be made more productive. It will be linked to agriculture-related activities: FM
Rs 100 crore will be spent on women safety in large cities: FM
15 new Braille presses to be established and revival of 10 existing announced
FM proposes to set up a committee to examine how unused money in postal schemes can be utilised
EPFO will launch a unified account scheme for portability of Provident Fund accounts: Jaitley
Rs 200 crore set aside to support Gujarat govt in Sardar Patel statue installation: Jaitley
Govt committed to providing 24/7 power supply to all homes: FM
FM proposes to launch “Swach Bharat Abhiyaan”
`Pradhanmantri krishi sichayin yojana` to be started for irrigation
We must continue to be watchful of CAD: FM
A national multiscale programme called Skill India to be introduced to provide training and support for employment: FM
There is urgent need to generate more resources: FM
e-visas will be introduced in a phased manner at 9 airports in India: Jaitley
Indian citizen will hold shares in public sector banks directly rather than indirectly at present: FM
Should we allow economy to suffer because of indecisiveness and populism: Jaitley
Will examine proposal to give additional autonomy to banks and make them more responsible: FM
Financial stability is the foundation of our recovery: FM
Norms eased for low-cost housing
FM raises FDI in defence manufacturing to 49%
The Finance Minister proposes measures to encourage development of smart cities
All future cases arising out of retro amendment will be scrutinised by high level committee: FM
India needs boost in manufacturing sector: FM
Anti-poverty programmes will be targeted well: Jaitley
Policy of NDA govt is to promote FDI selectively where it helps Indian economy: FM
Will leave no stone unturned to create a vibrant India: FM
A new Urea policy would be formulated: Jaitley
I propose to strengthen authority for advance ruling in tax: Finance Minister
We wish to provide an investment friendly taxation system: Arun Jaitley
We are targetting 7-8% growth rate: Jaitley
Tax GDP ratio should be improved and non tax revenues increased: Arun Jaitely
Slow decision making has resulted in loss of opportunity: Jaitley
No option but to take some bold steps to spurt economy: Jailtey
Target of 4.1% fiscal burden is daunting: Finance Minister
The task before me today is very challenging; need to revive growth in manufacturing sector: Jaitley
The steps I will announce are beginning of journey we wish to take for macro economic stabilisation: Jaitley
There are green shoots of recovery in global economy, says Jaitley
People have voted for a change; India desires to grow: Jaitley
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