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TaxTMI 
Highlights of the Budget 2014-15 - quick review
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....ighlights of the Budget 2014-15 - quick review<br>By: - CSSwati Rawat<br>Income Tax<br>Dated:- 11-7-2014<br><br>Highlights of the Budget 2014-15: Basic custom duty on LCD and LEDs below 19 inch reduced to zero from 10 per cent. Imported electronics goods to cost more. A cess to be introduced. Sugary carbonated drinks to get costlier. Cigarettes, gutkas, cigars to cost more CRT TVs exempted from....
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.... customs duty to help poor No change in income tax rates; personal income tax exemption limit raised from ₹ 2 lakh to ₹ 2.50 lakh Propose to increase investment limit under Section 80C from ₹ 1 lakh to ₹ 1.5 lakh Tax exemption on interest component on housing loan raised to ₹ 2 lakh from ₹ 1.5 lakh Tax exemption limit for senior citizens changed from ₹....
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.... 2.5 lakh to ₹ 3 lakh Revenue deficit pegged at 2.9 per cent of GDP Budget proposes Plan expenditure of ₹ 5,75,000 crore for current fiscal. Annual PPF ceiling to be enhanced to ₹ 1.5 lakh, from ₹ 1 lakh Airports to be developed in tier 1 and 2 cities, 16 new port projects to be awarded this year Govt proposes to set up 100 smart cities. Govt to provide ₹ 7,060 ....
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....crore for development of such cities: Budget proposes 49 per cent FDI in insurance through FIPB route Propose to provide finance to 5 lakh landless farmers through NABARD ₹ 500 crore allocated for stabilizing prices of agricultural commodities ₹ 3600 cr set aside for National Rural Drinking Water: FM Budget proposes 49 per cent FDI in insurance through FIPB route Propose to provi....
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....de finance to 5 lakh landless farmers through NABARD Committed to sustaining 4% growth in agriculture, extend credit to joint farming groups ₹ 500 crore allocated for stabilizing prices of agricultural commodities ₹ 3600 cr set aside for National Rural Drinking Water: FM Rural housing: ₹ 8000 crore for national housing banking programme FM announces development of Metro rail....
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....s in PPP mode; ₹ 100 cr set aside for metro scheme in Ahmedabad and Lucknow Each year government will be adding AIIMS to ensure there is an AIIMS in every state: Jaitley ₹ 100 crores to set up virtual classrooms ₹ 500 crores for setting up 5 more IIMs and IITs ₹ 7,060 crore allocated for building new cities Jaitley announces e-visas to promote tourism Government is co....
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....mmitted to providing 24x7 electricity in all houses Equity in PSU banks to be raised through share sale to the public Rural housing: ₹ 8000 crores for national housing banking programme Women's safety: ₹ 100 crores for Beti Bachcao, Beti Padhao Yojana Aim to achieve 7-8 per cent economic growth rate in next 3-4 years: FM Anti-poverty programmes will be targeted well. Finance ....
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....Minister emphasizes on fiscal prudence, need to generate more resources Target of 4.1 per cent fiscal deficit is daunting but accepting it as a challenge: FM Defence FDI cap raised to 49% from 26% at present Promote FDI selectively in sectors. India needs a boost in job creation in the manufacturing sector.<br> Scholarly articles for knowledge sharing by authors, experts, professionals ....