Here are the highlights of the Interim Budget 2014-15:
# RBI must strike a balance between growth and moderating inflation: Chidambaram
# Excise duty on SUVs cut from 30 to 24 pc, in large and mid-segment cars from 27-24 pc to 24-20 pc: Chidambaram
# Blood banks to be exempt from service tax: Chidambaram
# Revenue deficit estimated at 3 pc for current fiscal.
# Service tax relief storage for warehousing for rice.
# Excise duty on small cars, motorcycles and SUVs reduced.
# Excise duty cut from 12 to 10 per cent in capital goods sector to stimulate growth.
# 140 million moved out of poverty during the Government of UPA I and II
# Government has obtained information in 67 cases of illegal offshore accounts of Indians.
# Finance Minister says neither populism, nor majoritism is a way for governance
# Moratorium on interest on student loans taken before March 31, 2009; to benefit 9 lakh borrowers.
# Social Justice Ministry gets Rs 6730 crore; Panchayati Raj Ministry Rs 7000 crore, says FM.
# Minority bank accounts have swelled to 43,53,000 by 2013-14 from 14,15,000 bank accounts 10 years ago.
# I am disappointed that we could not introduce GST: FM
# We must focus on manufacturing, specially manufacturing for exports: Chidambaram
# The excise duty reduced for small cars from 12% to 8%l; for SUVs from 30% top 24%.
# Social Justice Ministry gets Rs 6730 crore; Panchayati Raj Ministry Rs 7000 crore: Chidambaram
# I wonder how many have noted the fact the Indian economy is 11th largest in the world: Chidambaram
# Focus should be on PPPs in infra sector; for the flagship programmes, the states should come forward and contribute: FM
# 1,200 crore rupees additional assistance to N-E states to be released before end of the year: FM
# Chidambaram proposes to set up research funding organisation for funding research in science; contribution to this shall be exempt from tax.
# Rs 6000 crore to rural housing fund, Rs 2000 crore for urban housing fund
# We must focus on manufacturing, and manufacturing for export; with minimum tariff protection: Chidambaram
# Top areas of priority: fiscal consolidation; CAD; high growth with moderate level of inflation; time table for passing legislation.
# Rs 500 crore estimated requirement for implementing one-rank-one-pay scheme for armed forces in 2014-15.
# Nearly 9 lakh student borrowers will benefit through the moratorium on repayment of student loans: Chidambaram
# Food subsidy will be Rs 1,15,000 crore for implementation of National Food Security Act.
# Budgetary support to Railways increased from Rs 26,000 crore to Rs 29,000 crore 2014-15: Chidambaram
# Aadhaar is tool for empowerment: FM
# Rs 3,370 crore to transferred to 2.1 crore LPG users; Govt committed to Aadhaar-based LPG transfer but scheme on hold temporarily: Chidambaram
# 41,16,000 women have been provided credit through SHGs: Chidambaram
# Bank accounts for the minorities have increased during ten years of UPA I and II. Banks have rendered yeoman service in reaching government programmes to various sections: Chidambaram
# The allocation for the Defence Ministry has been increased to Rs. 2,24,000 crores: Chidambaram
# Happy to announce that the Govt has accepted the principle of ‘one rank of pay’ for the defence forces. Rs 500 crore will be transferred for 2014-15 for implementing the ‘one rank one pay’ decision: Chidambaram
# Budgetary support to railways has been increased to Rs. 29,000 crore: Chidambaram
# Chidambaram for Ministry of Housing and Poverty Alleviation- Rs 6000 crore; Rs. 21,000 cr to Ministry of WCD; Ministry of HRD gets Rs 67,398 crore; Drinking water and sanitation ministry gets Rs 15,260 crore; Social Justice and Empowerment gets Rs 6730 crore
# Railways need to mobilise support through market borrowing: Chidambaram
# Rs 1,000 crore grant for Nirbhaya Fund will be non-lapsable; another Rs 1,000 crore to be given next fiscal: Chidambaram
# Rs 1,200 crore additional assistance to N-E states to be released before end of the year: Chidambaram
# National Solar Mission to undertake 4 ultra mega solar power projects in 2014-15: Chidambaram
# 500 MW fast breeder nuclear reaction in Kalpakkam to be ready shortly; 7 nuclear power reactors under construction: Chidambaram
# PSUs to achieve record capex of Rs 2,57,645 crore in 2013-14
# Average growth under UPA’s ten year rule was 6.2 per cent against 5.9 during NDA period of 1999-2004
# Average growth under UPA-I was 8.4 per cent and UPA-II 6.6 per cent.
# The IT modernisation project of the Dept of Posts will be operational soon: Chidambaram
# More than 54 lakhs transactions have been put through, through the DBT scheme: Chidambaram
# The govt remains fully committed to the Aadhar for financial inclusion: Chidambaram
# Chidambaram promises to grant Rs 1000 crore to the Nirbahya Fund for next year
# The NE states, HP and Uttarakhand deserve special attention: Chidambaram
# I reject the argument of policy paralysis: Chidambaram.
# Govt has approved the National Agro Forestry Policy which will enhance employment: Chidambaram
# The Kalpakkam nuclear reactor is nearing completion: Chidambaram
# Expenditure on education has risen from Rs 10,145 crore 10 years ago to Rs 79,251 crore this year: Chidambaram
# Declining fiscal deficit, moderation of CAD, stable exchange rate and increase in project implementation result of hardwork: Chidambaram
# Power capacity rises to 234,600 MW in 10 years: Chidambaram
# GDP growth rate in Q3 and Q4 of 2013-14 will be at least 5.2 pc: Chidambaram
# Three more industrial corridors – Chennai-Bangalore, Bangalore-Mumbai, Amritsar-Kolkata – under various stages of implementation: Chidambaram
# Merchandise export to grow by 6.8 pc to USD 326 billion: Chidambaram
# 296 projects worth Rs 6,60,000 crore cleared by Cabinet Committee on Investment by end January 2014: Chidambaram
# 8 national manufacturing zones have been approved along the Delhi-Mumbai corridor: Chidambaram
# CAD will be USD 45 billion in 2013-14: Chidambaram
# Agriculture credit will cross USD 45 billion against USD 41 billion in 2012-13: Chidambaram
# Foodgrain production estimated at 263 million tons in 2013-14: Chidambaram
# We acted with the RBI to fight inflation: Chidambaram
# Fiscal deficit to be contained at 4.6 pct of GDP in 2013-14: Chidambaram
# We will add forex exchange of USD 15 billion: Chidambaram
# Imports are down and this does not augur well for manufacturing and trade: Chidambaram
# We shall not do anything that will affect the foundation of India’s economy: Chidambaram
# Chidambaram’s speech disrupted by ministers over Telangana issue. Lok Sabha speaker Meira Kumar asks members not to shout. “Last few days left, don’t obstruct.”
(With PTI inputs)
For all the latest India News, download Indian Express App nowFirst Published on: February 17, 2014 11:20 am