Budget 2014-2015

Name : Prathamesh Vijay Naik

Roll No: 25
Challenging situation due to Sub five per cent
growth and double digit inflation.
Continued slow-down in many emerging
economies a threat to sustained global
recovery.
Recovery seen with the growth rate of world
economy projected at 3.6 per cent in
2014 vis--vis in 2013.
First budget of this NDA government to lay
down a broad policy indicator of the
direction in which we wish to take this
country.
Deficit and Inflation
Decline in fiscal deficit from 5.7% in 2011-12 to 4.5%
in 2013-14 mainly achieved
by reduction in expenditure rather than by way of
realization of higher revenue.
Improvement in current account deficit from 4.7 %
in 2012-13 to year end level of
1.7% mainly achieved through restriction on non-
essential import and slow-down in
overall aggregate demand. Need to keep watch on
CAD.
4.1 per cent fiscal deficit a daunting task in the
backdrop of two years of low GDP

Foreign Direct Investment (FDI)

The composite cap of foreign investment to be
raised to 49 per cent with full Indian
management and control through the FIPB route.
The composite cap in the insurance sector to be
increased up to 49 per cent from 26
per cent with full Indian management and control
through the FIPB route.
Requirement of the built up area and capital
conditions for FDI to be reduced from
50,000 square metres to 20,000 square metres and
from USD 10 million to USD 5

Rural Development
Shyama Prasad Mukherji Rurban Mission for integrated
project based infrastructure in the rural areas.
Rs. 500 crore for Deen Dayal Upadhyaya Gram Jyoti
Yojana for feeder separation to augment power supply
to the rural areas.
Rs. 14,389 crore provided for Pradhan Mantri Gram Sadak
Yojna (PMGSY) .
More productive, asset creating and with linkages to
agriculture and allied activities wage employment would
to be provided under MGNREGA.
Under Ajeevika, the provision of bank loan for women
SHGs at 4% to be extended to another 100 districts.
DIRECT TAXES PROPOSALS
Personal Income-tax exemption limit raised by Rs.
50,000/- that is, from Rs. 2 lakh to Rs. 2.5 lakh in
the case of individual taxpayers, below the age of
60 years. Exemption limit raised from Rs.2.5 lakh to
Rs. 3 lakh in the case of senior citizens.
No change in the rate of surcharge either for the
corporates or the individuals, HUFs,firms etc.
Investment limit under section 80C of the Income-
tax Act raised from Rs. 1 lakh to Rs.1.5lakh.
BUDGET ESTIMATES
Mandate to be fulfilled without
compromising fiscal consolidation.
Non-plan Expenditure of Rs.12,19,892 crore
with additional provision for fertilizer subsidy
and Capital expenditure for Armed forces.
Rs.5,75,000 crore Plan expenditure increase
of 26.9 per cent over actuals of2013-14.
Total expenditure of Rs.17,94,892 crore
estimated.
Thank You .