Union Budget 2014-15: What Finance Minister said
28 Feb 2015
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- Transport allowance increased to Rs 1600 per month
- 100 per cent tax deduction for contribution to Swachh Bharat Fund
- Service tax hiked to 14 per cent
- To increase clean energy cess to Rs 200/tonne of coal
- Online excise & service tax registrations in 2 working days
- Rs 9000 crore from additional 2 per cent surcharge on the super rich
- Wealth tax abolished, replaced by 2 per cent cess on super rich
- Total wealth tax collection in the country is Rs 1008 crore
- GAAR to be deferred by 2 years
- To curb benami transactions in property deals
- 7-yr imprisonment for non filing of return on foreign asset
- 300 per cent penalty on concealing income
- Undisclosed income to be taxed on maximum marginal rate
- New law to tackle black money
- Exemptions for individual tax payers to continue
- Reduce corporate tax from 30 to 25 per cent
- Gross tax receipts Rs 14.49 lakh crore
- Rs 13,12,200 crore non planned expenditure
- Rs 2,46,726 crore allocated for defence
- Centres for film production in Arunachal Pradesh
- Set up AIIMS in J&K, Tamil Nadu, Himachal Pradesh and Assam
- To amend law under FEMA on capital account transactions
- National skill development mission to be launched
- Plan 175,000 MW renewable energy by 2022
- Visa on arrival extended to 150 countries
- Rs 1000 crore more to the Nirbhaya fund
- Develop sovereign gold bond with fixed rate of interest
- Introduce a gold monetisation scheme
- Direct tax regime which is internationally competitive
- Highest ever allocation to MNREGA
- Public debt management agency
- Pre existing regulatory policies instead of prior permissions
- 5 ultra-mega power projects, each of 4000MW
- Under new PPP model Govt to absorb majority of the risk
- New scheme called Nayi Manzil to enable minority youth
- Investment in infrastructure to go up by Rs 70, 000 crore
- Integrated education and livelihood scheme for minorities
- New scheme for assisted living devices for BPL senior citizen
- To create a senior citizens' welfare fund
- To increase access to formal credit system
- Universal social security system to be created
- To create micro unit development finance unit MUDRA Bank
- Rs 25,000 crore for rural infrastructure development fund
- National unified market for farm produce
- Initial allocation of Rs 34699 crore under MNREGA
- Rs 5300 crore for micro irrigation & PM's irrigation scheme
- Fiscal gap target of 3 per cent to be met in 3 years
- Increasing investment in infrastructure is a challenge
- Our objective is to keep inflation below 6 per cent
- Total transfer to the states will be 62 per cent
- Need to be mindful of fiscal discipline
- Will Form A Monetary Policy Committee
- At least 1 member of each family to have job by 2022
- Electrification of remaining 20,000 villages by 2020
- GST will put in place a state of the art taxation system
- Aiming for double digit growth
- Growth In FY16 Seen Between 8-8.5 per cent
- Growth expected between 8 and 8.5 per cent
- To Roll Out GST On 1 April , 2016
- GST To Put In Place State Of Art Indirect Tax System By Apr, 2016
- Conquering inflation is an achievement of my govt
- FY15 Real GDP Growth Seen At 7.4 per cent
- FY15 CAD Seen Lower Than 1.3 per cent
- 50 lakh toilets constructed, target 6 crore toilets
- India's Economic Credibility Re-established
- 12.5 crore families under Jan Dhan Yojna
- 2015 GDP seen at 7.4 per cent
- We have lived up to people's trust
- Dramatically established macro economic stability
- World is predicting it is India's chance to fly
- States empowered more than before
