Here are a few highlights of the Budget 2014 presented by the new government. For all those who missed the budget, READ ON. All the major decisions in a nutshell.
- Anti-poverty programmes will be targeted well.
- Finance Minister emphasizes on fiscal prudence, need to generate more resources.
- Banking system needs to be further strengthened. Infusion of Rs. 2.40 lakh crore in our banks.
- E-visa to be introduced at 9 airports in the country.
- Total sanitation by 2019.
- Deen Dayal Upadhaya Gram Jyoti Yojana to be launched to augment power supply in rural areas.
- Pension scheme for senior citizens being revived.
- Govt to launch ‘Beti Bachao, Beti Padhao’ scheme; sets aside Rs 100 crore for it.
- 4 more AIIMS in Andhra Pradesh, West Bengal, Vidharba and Purvanchal are under consideration; Rs 500 cr provided.
- 5 new IIMs and 5 new IITs proposed to be set up.
- Metro rail services to be launched in Lucknow and Ahmedabad; Rs 100 crore set aside for it.
- No change in income tax rate; personal income tax exemption limit raised from Rs 2 lakh to Rs 2.50 lakh.
- Basic custom duty on LCD and LEDs below 19 inch reduced to zero from 10 per cent.
- Banks will be permitted to raise long term funds without regulatory hindrances.
- 10-year tax holiday to be extended to companies that start power generation by March 31, 2017.
- Basic customs duty on basic flat stainless steel products.
- Excise duty on food processing and packaging machinery for fruits and vegetables reduced to 6 per cent from 10 per cent.
- Excise duty on footwear reduced to 6 per cent from 12 per cent.
- Specific excise duty on cigarettes raised in the range to 11 to 72 per cent.
- Indian Custom Single Window Project to be taken up for facilitating trade
