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Discuss live budget 2014 updates !
Budget 2014:
Financial sector is at the heart of the growth engine
Revision of rate of royalty on minerals to be taken up on request from the States
Kisan TV channel to be launched soon
In order to complete gas grid, 15000 km of additional pipeline to be developed through PPP mode
To award 16 new Port projects. Allocating 11,635 cr to develop existing ports & harbours.
To announce new Ship Building Policy this fiscal.
FM: Essential to strengthen and modernize regulatory framework in financial sector to meet challenges of increasing complex economy
To give more focus to SMEs: FM
One Single Demat account for all transactions . Uniform KYC across all financial services & 2 bank accounts in each household
Aim for 7-8% GDP growth in 3-4 years says FM
Rs 100 cr set aside for development of Technology Development Fund
PPF savings limited enhanced from 1 lakh to 1.5 lakh
To Introduce one single demat a/c to boost simplicity To introduce new Indian Accounting Standards from FY16
Govt will work out measures for revival of other stressed assets
To change tax laws governing FIIs, whose managers based abroad. Proposes extending 5% withholding tax to all bonds
RBI will create framework for licenses of small banks
Banks to be allowed to raise longer-term funds for infra. Longer-term infra funds to have min rules.
PPF savings limited enhanced from 1 lakh to 1.5 lakh
To Introduce one single demat a/c to boost simplicity To introduce new Indian Accounting Standards from FY16
Govt will work out measures for revival of other stressed assets
To change tax laws governing FIIs, whose managers based abroad. Proposes extending 5% withholding tax to all bonds
RBI will create framework for licenses of small banks
Banks to be allowed to raise longer-term funds for infra. Longer-term infra funds to have min rules.
- To create 5 tourist circuits with 500 cr corpus
- Time that we make serious efforts to link rivers; Rs 100 cr set aside for project to link rivers.
- World Class Convention facility to be developed through PPP mode
- FM announces "Namami Ganga", an integrated Ganga Development Project; Rs. 2037 cr set aside for this
- FM announces Rs 100 cr for development of Archaeological sites. Gaya to be developed as world class tourism spot
But how government will arrange this resource and how much time will they consumed for full fill this economic suaition... Plz give ur suggestion me ! !!
6 new DRTs proposed to be set up for recovering NPAs.
Budget 2014: Tax exemption limit for small and marginal, and senior tax payers changed from Rs. 2.0 to Rs 2.5 lakhs
# Had to encounter challenge of extremely limited fiscal space in deciding tax policy, says FM
# Planned Expenditure seen at Rs 5.75 lakh crores
# Non-Planned Expenditure seen at Rs 12.189 lakh crores
# Planned Expenditure seen at Rs 5.75 lakh crores
# Non-Planned Expenditure seen at Rs 12.189 lakh crores
FM : Tax exemption limit for senior citizens changed from Rs. 2.5 lakh to Rs. 3.0 lakhs
No change in tax rates. Income tax expemption hiked by Rs 50000 to 2.5 lakhs.
Gross Tax reciepts seen at 13.64 lakh crores
Budget 2014:
1. Revenue Deficit seen at 2.9% for FY15
2. Raises 80C investment cap to Rs 1.5 lakh. Hikes housing interest rate deduction limit to Rs 2 Lakhs
3. Propose to increase investment limit under Section 80C from Rs. 1 lakh to Rs. 1.5 lakhs
Provide investment allowance at 15% for 3 yrs to manufacturing company which invest more than Rs 25 cr in plant and machinery - FM
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