Budget 2014 Highlights

What's there in Budget?

• No change in income tax rates.
• Populism is not our way of governance.
• Growth for next year should be 5 per cent.
• 6 pc excise duty for all mobile phones.
• Soaps, TV, fridge to be cheaper now.
• Excise duty on SUVs reduced to 24%, on large cars to 20%.
• FM reduces excise duty on capital goods from 12% to 10%.
• Cars to be cheaper as FM proposes to reduce excise duty on automobiles. Excise duty on small cars, motorcycles reduced from 12% to 8%.
• Disappointed that we have not been able to introduce DTC.
• Focus on building up manufacturing capacity.
• Community radio to be promoted with Rs 100 crore.
• All taxes on exports to be waived for manufacturing sector.
• Rs 65,000 crore for fuel subsidies.
• Three more industrial corridors announced.
• Govt is dedicated to keeping Indian economy in robust health.
• CAD can only be addressed by foreign investment.
• Budgetary support to railways raised to 29,000 cr.
• Propose a moratorium period for some education loans.
• PSU banks got more than 25 lakh student loan accounts in 2013.
• Proposes Rs 11,200 crore for capital infusion in PSBs.
• Govt approves one rank one pay for retired jawans.
• Defense allocation for FY15 increased by 10 per cent.
• Plan expenditure at Rs 5 lakh 55,322 crore in 2014-15.
• Non-plan expenditure in 2014-15 estimated to be over Rs 10 lakh crore.
• Budgetary support to railways at Rs 29,000 crore in 2014-15.
• Over Rs 45000 cr allocated for scheduled caste sub-plan.
• Seven new airports under construction.
• Those at the bottom of the pyramid need Aadhar.
• Govt remains fully committed to Aadhar.
• 50,000 MW of thermal power under construction.
• UPA's growth story unparalleled.
• P Chidambaram promises 1 million jobs.
• FDI policy has been liberalised to attract larger investment.
• Foreign exchange reserves up by $15 billion.
• Reject the argument of policy paralysis.
• Food-grain production estimated at 263 million tons in 2013-14.
• Agriculture credit will cross $45 billion against $41 billion in 2012-13.
• 296 projects worth Rs 6,60,000 crore cleared by Cabinet Committee on Investment by end January 2014.
• Growth needs to be more inclusive.
• Growth in Q3 and Q4 FY14 will be at least 5.2 per cent.
• Among emerging economies, rupee affected least.
• Two projects sanctioned under Nirbhaya Fund; original Rs 1,000 crore made non-lapsable; another Rs 1,000 crore granted.
• Agriculture GDP growth expected at 4.6 per cent in current year.
• National manufacturing policy is set to revive manufacturing in 2014.
• Construction underway for 50,000MW of conventional power.
• Over 29,000 MW of power capacity added during fiscal.
• Exports have recovered sharply.
• Too many obstacles in implementing projects.
• Core inflation at 3 per cent. Food inflation remains a key worry.
• CAD will be contained $45 million.
• Fiscal deficit to be contained at 4.6 per cent.

Confia Finance Team

Confia Interactive

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