Fiscal consolidation: roadmap and structural reforms to contain deficits while mobilising investment and targeted social support.
The Budget 2014 15 links early signs of GDP recovery and moderating inflation to a strategy of fiscal consolidation combined with supply side and targeted social measures: it establishes an Expenditure Management Commission to rationalise subsidies and improve delivery via DBT/Aadhaar, sets a fiscal consolidation roadmap, and pairs pro poor allocations (rural roads, housing, food security, financial inclusion, health and sanitation) with pro business reforms (selective FDI liberalisation, incentives for manufacturing and infrastructure, dispute resolution reforms, and measures to deepen capital and industrial corridors).

Tariff value update for specified import commodities: revised customs valuation rates notified under the Customs Act.
Amendment to Notification No. 36/2001-Customs (N.T.) under section 14(2) of the Customs Act substitutes TABLE-1, TABLE-2 and TABLE-3 with revised tariff values for specified import goods, including listed palm oil products, crude soybean oil, Brass Scrap (all grades), poppy seeds, areca nuts, and unit tariff values for gold and silver for the purposes of the related notification.

External debt position: rise driven by long term borrowings and NRI deposits; debt ratios remain within manageable limits.
External debt rose to US$ 440.6 billion at end March 2014, up 7.6% from the prior year, driven mainly by long term borrowings and NRI deposits under the FCNR(B) swap. Long term debt was US$ 351.4 billion (79.7% of total) while short term debt fell to US$ 89.2 billion (20.3%). Government external debt was about US$ 81.5 billion. The external debt-GDP ratio was 23.3% and the debt service ratio 5.9%, with indicators judged comfortable relative to other developing countries.

Government market borrowings rise with longer maturities and moderated yields, maintaining comfortable liquidity and low rollover risk.
Government market borrowings for FY2014-15 rose versus the prior year with higher dated securities issuance in Q1; auctions adhered to a pre-announced calendar emphasizing re-issuances and new tenors. Issuances showed a higher weighted average maturity while weighted average yields moderated. Liquidity remained broadly comfortable with net LAF borrowings near the central bank's comfort zone and the government's cash largely in surplus. Total public debt increased quarter-on-quarter, internal debt dominated the stock, marketable securities comprised most of the debt, and the residual maturity profile implies low rollover risk.

Income tax payment channels: use authorised bank branches or online to remit dues in advance, avoiding RBI queues.
The Reserve Bank of India urged taxpayers to remit Income Tax dues sufficiently in advance and recommended using alternate channels-select branches of twenty nine authorised agency banks or the banks' online payment facilities-to avoid end of period congestion at RBI counters and delays in issuance of receipts.

Unauthorised deposit schemes threaten bank stability; states urged to strengthen coordination and investor protection measures.
Unauthorised deposit schemes threaten bank capital and financial stability and require coordinated state and regulator action through strengthened detection, investor awareness, enhanced enforcement (EOWs/cyber cells), and possible depositor protection legislation. Strengthening State Level Coordination Committees with higher level participation, frequent meetings, quality information sharing, and a dedicated portal was recommended alongside e banking standardisation, fiscal consolidation, and measures to promote safe financial inclusion.

Auction of government stocks via multiple price method with reserved non competitive allotment and electronic bidding submission.
Sale by auction (re-issue) of specified Government stocks is announced using a price based multiple price auction; up to five percent of each notified amount is reserved under the Non Competitive Bidding Facility for eligible individuals and institutions, with electronic submission of competitive and non competitive bids via the central banking core system and prescribed submission windows, announcement of results on the auction date, deferred payment on the designated settlement date, and eligibility for When Issued trading under existing when issued guidelines.

Exchange rate determination under Customs Act sets official import and export currency conversion rates and supersedes earlier notification.
Determination of official foreign currency conversion rates under section 14 of the Customs Act for valuation of imported and exported goods, superseding the prior notification and prescribing separate import and export rupee equivalences in annexed Schedule I (per unit) and Schedule II (per 100 units) for the listed foreign currencies; the notification applies prospectively except for acts done prior to its supersession.

Regulatory empowerment of forward markets intermediaries: draft rules open for public comment to strengthen oversight.
The draft Forward Contracts (Regulation) (Intermediaries) Rules, 2014 propose to empower the Forward Markets Commission with explicit supervisory authority over intermediaries in commodity derivative markets, and the Central Government has published the draft on the Ministry of Finance website inviting public comments to a designated departmental official within a specified response period.

Tariff value adjustment for specified agricultural and metal imports notified, altering customs valuation for import duty purposes.
Amendment substitutes revised tariff value tables in Notification No. 36/2001-Customs (N.T.), fixing US dollar reference values per unit for listed commodities - including crude palm oil products, crude soyabean oil, brass scrap, poppy seeds, areca nuts, and unit values for gold and silver where notification benefits are availed - to be applied for customs valuation and duty assessment.

Expenditure management commission constituted to review public spending, with specified membership and a staged reporting timetable.
The government has constituted an Expenditure Management Commission chaired by a senior economist with named expert members, an ex officio Department of Expenditure representative, and a senior officer as Member Secretary; detailed Terms of Reference will be notified separately and the Commission must submit an interim report before the next budget and a final report before the following budget.

Exemption from MAT and DDT for SEZ developers and units proposed to be restored following government recommendation.
Exemption from Minimum Alternate Tax (MAT) and Dividend Distribution Tax (DDT) for SEZ developers and units originally existed; later amendments removed MAT and DDT exemptions for those taxpayers, and the Department of Commerce has recommended restoring the original exemptions for SEZ developers and units.

Jurisdiction over unregistered MLM firms limited to state governments; central agencies coordinate on companies engaged in direct selling.
Jurisdiction concerning unregistered multi level marketing firms rests with State Governments, as the Ministry of Corporate Affairs governs only registered companies; an inter ministerial group formed by the Ministry of Finance brings together central financial and market regulators to coordinate policy and responses for companies engaged in direct selling.

Illegal collective investment schemes prompt inter-agency probes and investor protection measures including disclosure and auditor safeguards.
Proliferation of illegal collective investment schemes and unauthorised public deposit-taking by companies engaged in NBFC-like activities led to regulatory fact-finding and inter-agency coordination. The Ministry identified companies with enabling memorandum clauses for referral to the banking regulator, and investigations into chit-fund operators exposed use of multiple legal frameworks to circumvent oversight. As investor protection measures, the Ministry expanded awareness programmes and implemented enhanced disclosure norms and strengthened auditor accountability under corporate law reforms.

Currency security upgrades: government and central bank reviewing new banknote features to deter counterfeiting and raise public awareness.
A High Level Committee chaired by the Directorate of Currency and including representatives of relevant departments and the central bank examines security features and associated technologies for future banknote series, while public awareness is advanced through a dedicated website, posters at bank branches, regional outreach programmes, and distribution of informational leaflets to help the public identify genuine notes.

Compounding of corporate offences: ROC instructed to accept applications or initiate prosecution; auditor referral made for professional action.
Inspection under section 209A found multiple breaches of accounting, disclosure and governance provisions and auditor reporting obligations; the Ministry instructed the Registrar of Companies to permit filing of compounding applications and to proceed with prosecution if applications are not filed within the prescribed time, referred auditor matters to the professional institute for disciplinary action, and forwarded findings to the tax authority and nominee directors for further action.

Exchange rate determination for customs import and export goods notified, fixing separate conversion rates under the Customs Act.
Determination under the Customs Act prescribes specific conversion rates for foreign currencies for customs purposes, with separate rates for imported goods and for export goods, superseding the earlier notification and applying from the notified date. Two annexed schedules list unit and per-hundred-unit rupee equivalents for the listed currencies to be used by customs officials in valuation and related procedures.

Anti-dumping duty on imported solar modules to offset below value imports, with collected duties proposed for developer subsidies.
Imposition of anti-dumping duty is recommended where imported solar cells, modules and thin-film panels were found to be sold below normal value with a positive dumping margin causing material injury to the domestic manufacturing industry; the Designated Authority forwarded duty recommendations to the Government, and collected duties or National Clean Energy Fund resources have been proposed as potential means to subsidise affected solar developers.

SLR reduction increases banks' lending capacity while policy rates held steady, tied to moderating inflation and growth prospects.
Reduction of the Statutory Liquidity Ratio by fifty basis points increases banks' leeway to lend by lowering mandatory holdings of safe government assets while the policy rate was left unchanged; the Ministry links the move to moderating inflation, a need to revive credit as demand grows, and advises that future policy rate decisions should balance liquidity, inflation, and growth considerations.