Indian Finance Minster Arun Jaitley presented the Narendra Modi Government’s maiden Budget for the year 2014-15. In this budget the modi govenrment mainly focused to keep up their election promises. In this budget Arun Jaitely has mentioned the issues like Raising the personal tax exemption limit by Rs. 50,000, raising the Foreign Direct Investment (FDI) limit to 49%, Ganga Conservation Mission called ‘Namami Gange’ with Rs 2,037, Increasing safety of women in large cities with Rs. 150 crores, setting up 100 smart cities with Rs 7,060 crore, National Rural Internet and Technology Mission etc. He confidently stated that this budget can can growth even while curbing borrowing, after the country’s longest slowdown in a quarter of a century. Below are the Highlights of Union Budget 2014-15. You can download pdf version of the same from here.

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Union Budget Highlights 2014-15:

• FY16 Fiscal Deficit Target at 3.6%
• FY17 Fiscal Deficit Target at 3%
• 200 crore for 6 more textile clusters in Rase Bareily, Lucknow, Surat and Bhagalpur.
• 30 crore set aside for ‘hasthakala academy’ for reviaval of handicrafts
• 50 crore set aside for Pashmina Production programme in J&K
• 378,800 crore for NHAI and State Highways
• 3,000 crore for raods in North East
• 4,200 corre for Jal Marg Vikas project on river Ganga connecting allahabad to Haldia
• 100 : Number of new cities government will build
• 7,060 cr : Amount sanctioned for creation of new smart cities
• E-Visas : To be introduced at 9 airports to provide much requried boost to tourism
• 200 crore : Amount sanctioned for Sardar Patel statue
• 500 crore : To be spent on Gram Jyhothi Youjana
• 6,000 crore : Amount for welfare of senior citizens
• 150 crore : To be spent to enhance safety of women on roads
• 1,000 crore : Pension for EP subscriber scheme

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Taxes Highlights :

• 2.5 lakh : Tax exemption limit for small & marginal, senior tax payers, up from Rs. 2 lakh
• 3 lakh : Tax exemption limit for senoir citizens, up from Rs. 2.5 lakh
• 1.5 lakh : Increased investment limit under Section 80C, up from Rs. 1 lakh
• 2 Lakh : Revised housing lan regate, up from Rs. 1.5 lakh
• No change in tax rates
• No change in surcharge

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Agriculture highlights 

• 100 crore set aside for schemes to provide soil health card
• 56 crore for soil testing labs across the country
• 200 crore set aside for agriculture universities in AP and Rajasthan, and Horticulture University in Haryana, Telangana
• 5 lakh landless farmers to be provided finance through NABARD
• 8 lakh crore set aside for development of agriculture sector
• 3% amount of incentive to be given to farmers repaying loans on time
• 100 crore set aside for Kisan Television to provide real time information on various farming and agriculture issues

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Education Highlights 

• 100 crore for Beti Bachao-Beti Padhao yojana
• 4 new AIIMS to be set up in AP, UP, WB and Maharashtra
• 28,000 core for sanitation in all primary schools
• 12 more governement medical colleges to be set up
• 5 new IITs and IIMs to be set up
• 3,600 crore for rural drinking water programme
• 8,000 crore for rural housing scheme
• Rs. 100 crore to be spent on upgrading madarsas

To Download Union Budget Highlights 2014-15 PDF: CLICK HERE

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