yash_naik24
Yashwant Naik
Arun Jately declare the Annual Budget for 2014 - 2015. While everyone has many expectation with budget as Aache Din Aanewale hai. In this Budget Some electronic goods such as TV and mobile goes cheaper but Cigarets goes costlier. Most of money is reserved for rural development and setting up more IIM for India. The project was nice but no such sign of low inflation. Here are some of biggest announcements -
1) Housing For All By 2022
BJP Government wants every family to own a house by 2022. To encourage people FM has extended additional tax incentive on home loan, also proposed to set up a Mission on Low Cost Affordable Housing that will be anchored in the National Housing Bank.
2) 100 Smart Cities
Their is proposed an allocation of Rs 7,060 crore (Rs 70.60 billion) for developing 100 'smart cities' in the country. "The Prime Minister has a vision of developing 100 smart cities as satellite towns of larger cities and by modernising the existing mid-sized cities.
3) Boosted Investors Confidence
Assuring investors that retrospective amendments to tax laws will be undertaken with extreme caution. All fresh cases arising out of the 2012 amendment of I-T Act will be looked into by a high level CBDT committee.
4) Ambitious Fiscal Deficit Target
FM projected to limiting fiscal deficit to 4.1 per cent for the current fiscal. He aims to reduce it to 3.6 per cent and 3 per cent for 2015-16 and 2016-17 respectively.
5) Tax Exemption Limit Under 80C Raised To Rs 1.5 lakh
Finance Minister Arun Jaitley raising tax exemption limit to Rs 250,000 from Rs 200,000, providing a relief of at least Rs 5,000.
6) TV And Computers Cheaper, Cigarettes Expensive
Items that will now cost more are cigarettes (hiked by 11 to 72 per cent), aerated drinks and imported clothes. Colour TV and computers will be cheaper.
7) Modi Govt Makes Rs 1,000 Monthly Pension A Reality
Every EPFO member will get a minimum of Rs 1,000 per month pension.
8) Hiked FDI Limit In Defence Sector
Raise caps on foreign investment in the defence and insurance sectors from 26 per cent to 49 per cent.
9) Implementation Of GST
the government expects to find a solution to implement the goods and services tax that will unify India's 29 states into a common market
10) 5 New IIMs And IITs
Finance Minister Arun Jaitley allocated Rs 500 crore (Rs 5 billion) to set up five new IIMs (Indian Institute of Management Studies) and five new IITs (Indian Institute of Technology) in the Union Budget 2014-15.
1) Housing For All By 2022
BJP Government wants every family to own a house by 2022. To encourage people FM has extended additional tax incentive on home loan, also proposed to set up a Mission on Low Cost Affordable Housing that will be anchored in the National Housing Bank.
2) 100 Smart Cities
Their is proposed an allocation of Rs 7,060 crore (Rs 70.60 billion) for developing 100 'smart cities' in the country. "The Prime Minister has a vision of developing 100 smart cities as satellite towns of larger cities and by modernising the existing mid-sized cities.
3) Boosted Investors Confidence
Assuring investors that retrospective amendments to tax laws will be undertaken with extreme caution. All fresh cases arising out of the 2012 amendment of I-T Act will be looked into by a high level CBDT committee.
4) Ambitious Fiscal Deficit Target
FM projected to limiting fiscal deficit to 4.1 per cent for the current fiscal. He aims to reduce it to 3.6 per cent and 3 per cent for 2015-16 and 2016-17 respectively.
5) Tax Exemption Limit Under 80C Raised To Rs 1.5 lakh
Finance Minister Arun Jaitley raising tax exemption limit to Rs 250,000 from Rs 200,000, providing a relief of at least Rs 5,000.
6) TV And Computers Cheaper, Cigarettes Expensive
Items that will now cost more are cigarettes (hiked by 11 to 72 per cent), aerated drinks and imported clothes. Colour TV and computers will be cheaper.
7) Modi Govt Makes Rs 1,000 Monthly Pension A Reality
Every EPFO member will get a minimum of Rs 1,000 per month pension.
8) Hiked FDI Limit In Defence Sector
Raise caps on foreign investment in the defence and insurance sectors from 26 per cent to 49 per cent.
9) Implementation Of GST
the government expects to find a solution to implement the goods and services tax that will unify India's 29 states into a common market
10) 5 New IIMs And IITs
Finance Minister Arun Jaitley allocated Rs 500 crore (Rs 5 billion) to set up five new IIMs (Indian Institute of Management Studies) and five new IITs (Indian Institute of Technology) in the Union Budget 2014-15.