Untitled Document


Jaitley spreads cheer
11 July 2014
Promises to limit fiscal deficit at 4.1% of GDP; Gives optimistic tax revenue estimates; Offers sops to manufacturers, individual taxpayers, markets; But makes tobacco, soft drinks more expensive
  • Tobacco products to cost more. Excise duty increased b/w 11-72%
  • Indirect Tax proposals to yield additional revenue of Rs 7,000 cr
  • FM proposes cut in basic customs duty on some petrochemical units
  • To expand horizon of service tax
  • Excise duty slashed to 6% from 12% on footwear
  • Basic custom duty on LCD, LEDs below 19 inches reduced to nil from 10%
  • Online and mobile advertising come under service tax umbrella
  • Impact: Excise duty on cigarettes increased..unlikely to have any impact as it is a pass through cost
  • To cut excise duty on packaging machinery to 6%
  • Tax rebate on dividend by foreign companies retained
  • To cut excise duty on food processing to 6% from 10%
  • Interest cap on Self-occupied houses raised to Rs 2 lakh from Rs 1 lakh
  • Income tax exemption limit for senior citizens raised to Rs 3 lakh frm Rs 2.5 lakh
  • Impact: Rs 5000 per annum benefit for individuals from hike in tax limit
  • No change in tax rate, exemption limit raised form Rs 2 lakh to Rs 2.5 lakh for general assessees
  • No change in tax rate, exemption limit raised form Rs 2 lakh to Rs 2.5 lakh for general assessees
  • Revenue deficit to be 2.9% in FY15
  • Fiscal deficit to be 4.5% of GDP in FY15
  • Proposes retain direct and indirect tax targets set by UPA govt
  • Total expenditure at Rs 17.9 lakh cr for Fy15
  • Plan expenditure at Rs 5.75 lakh cr
  • Rs 2.29 lakh cr allocated for defence sector
  • Non planned expenditure pegged at 12,19,892 cr
  • Govt to set up national sports academy for different sports in different parts of the country
  • Biotech clusters proposed for Bangalore and Faridabad
  • Rs 100 cr earmarked for promoting organic farming in north east
  • Impact: gas network to be doubled -- will benefit pipe manufacturers
  • Rs 100 cr proposed for War memorial and war museum
  • Allocate Rs 2.29 lakh cr for defence sector
  • Impact: Banks being allowed to raise long term loans to help meet their asset liability mismatch in funding infra projects
  • Armed forces modernisation: Defence outlay hiked by Rs 5,000 cr over and above amount set aside in interim budget
  • Propose to revitalise small savings schemes
  • PPF Annual ceiling to be hiked from Rs 1,00,000 to Rs 1,50,000
  • Propose to take up pending insurance bill
  • New Indian Accounting norms for financial sector from FY17
  • Banks will be encouraged to give long-term loans to infra
  • Six new Debt recovery tribunals to be set up
  • FM pushes for time-bound consolidation of PSU banks
  • Will consider consolidation of PSU banks
  • Single demat account, uniform KYC norms proposed
  • Ultra modern power projects to be taken up in Rajasthan, Tamil Nadu, Ladakh with Rs 500 cr
  • Apprentice Act to be suitably amended to strengthen the Apprentice Training Scheme
  • New & renewable energy deserves high priority;ultra modern power projects to be taken up in Rajasthan,Tamil Nadu, Ladakh with Rs 500 cr
  • Will develop 15,000 km of gas pipeline via PPP
  • To complete gas grid in the country, focus on piped gas
  • New airports to be developed through PPP mode
  • Coal India to benefit from government thrust of coal linkages
  • Adequate coal to be given to existing coal projects
  • Rs 100 cr for national industrial corridor based in Pune
  • Apprentice Act to be suitably amended to strengthen the Apprentice Training Scheme
  • FM proposes Industrial Smart Cities in 7 cities
  • Rs 500 cr for solar power projects
  • All govt departments and ministries to be integrated through E-platform by 31 Dec this year
  • Aim to rationalise coal linkages
  • FM proposes PPP model for development of metro railway networks
  • Impact: New Airport development -- GMR and L&T can benefit
  • Scheme for development of new airports in tier-I and tier-II cities
  • Pune is the capital of industrial corridor -- real estate companies in the city will be major benefeciary
  • Rs 100 cr for preparatory work to promote thermal power
  • Rs 37500 cr investment in highways and roads
  • Propose Rs 10,000 cr fund for start-up firms
  • Rs 11,644 cr will be allocated for 16 new port projects
  • Target of Rs 8,00,000 cr for farm credit in FY14-15
  • 5 more IITs, IIMs in the country; allocation Rs 500 cr
  • Committed to SEZ revival
  • Plan 6 more textile clusters with Rs 200 cr allocation
  • Aim for Rs 8 lakh cr farm credit in FY15
  • Proposes six more textile clusters in Surat, Lucknow and other centres, earmarks Rs 200 cr
  • Equity infusion of Rs 2,40,000 cr in banks targeted: FM
  • Higher capital ceiling proposed for MSMEs
  • Rs 7060 cr given to develop 100 smart cities
  • Govt committed to provide 24*7 power supply to all
  • Additional 3% subsidy on farm loans on timely repayment.
  • Rs 100 crore for Beti Bachao, Beti Padhao Yojana, for women empowerment
  • SEZ revival to help Jai Corp, BF Utilities among others
  • Restructuring Food Corp of India will be priority
  • Plan to finance 5 lakh landless farmers through NABARD
  • Rs 100 cr proposed for agriculture infra fund
  • FM sees Farm sector growth at 4% during FY15%
  • Speedy disposal of Tax disputes expected to help a number of listed companies
  • Real Estate and Infra companies to benefit from revised REITs norms
  • All retrospective tax cases to be scrutinised by high-level committee
  • Need to attract PPP in food sector
  • Composite cap of FDI raised to 49% in insurance
  • Rs 5,000 cr earmarked for ramping up warehousing for farm produce
  • Propose to continue interest subvention for farmers
  • See FY15 agricultural growth at 4%
  • FM proposes Rs 100 cr to end gender discrimination
  • Price stabilisation fund and direct sale of farm products to farmers to help control inflation and bring down interest rates
  • Rs 12,000 cr allocated to NHB
  • Committed to proving tax regime that is stable and investor friendly
  • Rs 4000 cr for affordable housing through NHB
  • Monsoon unpredictable this year
  • Rs 4000 cr for affordable housing through NHB
  • FM: Rs 50,548 cr set aside for SC development
  • Need to introduce fiscal prudence that will reach to fiscal consolidation
  • FM: Rs 200 cr set aside to support Gujarat govt in the Sardar Patel statue installtion
  • Tax-GDP ratio must be improved
  • Agriculture is most prone to climate change; Rs 100 cr fund to bet set up to meet challenge
  • FM Jaitley resumes budget speech
  • Jaitley takes unprecedented break, to resume in 5 mins
  • Steps announced in budget to take Indian economy to 7-8% growth in coming years
  • Affordable housing for all by 2020
  • There are green shoots of recovery being seen in global economy: Jaitley
  • Slow decision making has resulted in loss of opportunity. Two years of sub-5% growth has resulted in challenging situation
  • To allocate Rs 100 cr for metro projects of Lucknow, Ahmedabad
  • Infra invetsment trusts to be set up to scrutinise infra projects
  • Rs 3600 cr for national rural drinking water programmes for providing safe water for village areas
  • Propose Rs 100 cr for rural enterpreneurship scheme
  • Water treatment companies like Thermax, VA Tech Wabag and Ion Exchange to gain from clean water scheme announced
  • To focus on more productive asset creation under NREGA
  • Extend senior citizens' pension plan till Aug 2015
  • Proposes start-up village entrepreneurship scheme, earmarks Rs 100 crore
  • 15 new presses and modernisation of existing presses for visually challenged; special currency to cater to these citizens
  • Rs 150 cr to increase safety of women
  • FM says is committed to supply 24x7 power to all households
  • To allocate Rs 500 cr for new rural power plan
  • Will examine proposal to give greater autonomy to banks
  • Rs 1000 cr to be set aside for irrigation schemes
  • To provide incentive for REITS
  • e-Visas to be introduced in phased manner to encourage tourism in 9 airports
  • 100 smart cities on the anvil, they will be satellites to major cities
  • Will sell shares in banks to retail investors
  • Greater autonomy for banks proposed: FM
  • FDI in insurance to help banks and NBFCs with insurance subsidiary
  • Composite cap of FDI in defence raised to 49%
  • Propose changes in transfer pricing regulations
  • Hope we can bring a solution to GST this year
  • Will not change rules on retrospective taxation
  • All retro tax cases will be scrutinised buy high level commission
  • Will overhaul subsidy regime, especially food and fuel
  • New urea policy to be formulated
  • Will meet fiscal deficit target of 4.1%
  • FY17 target for fiscal deficit at 3%
  • Fiscal deficit target at 3.6% for 2015-16
  • FM says target of 4.1% fiscal deficit is daunting but will take on challenge
  • Fiscal deficit target of 4.1% daunting
  • Fiscal prudence is of prime importance
  • Need to revive growth in manufacturing, infrastructure sectors
  • Prevailing economic situation is a great challenge
  • We need to ensure that programs for the poor are properly targetted
  • Two years of sub-5% growth has resulted in challenging situation for country: FM
  • The people of India have voted for change. India desires to grow: Jaitley
  • FM begins budget speech in Parliament
  • Finance Minister Arun Jaitley to present Union Budget 2014 at 11 am
  • Finance Minister Arun Jaitley to present Budget shortly
  • Cabinet approves Union Budget 2014
  • Union Cabinet Meet at Parliament ends
  • Finance Minister Arun Jaitley briefs Union Cabinet on the Budget
  • Markets trade flat ahead of Budget; S&P BSE Sensex trading at 25438, down 6 points while CNX Nifty slips 8 points to 7576
  • Rupee is up 12 paise against the dollar ahead of Union Budget
  • Finance Minister Arun Jaitley reaches Parliament

  • @PMOIndia

    RT @PIB_India: #FM: FDI is several sectors provides additional resources

  • @arunjaitley

    Congratulations to Shri Amit Shah on his taking over as the President of the Bharatiya Janata Party.

  • @milinddeora

    It's a bitter pill I swallow here, To be rent from one so dear. We fought for justice & not for gain, But the magistrate sent me away ~ U2

  • @digvijaya_28

    Would Arun Jaitley explain MINDLESS POPULISM in his Budget Speech today ?

  • @thekiranbedi

    Phenomenal coverage and progressive systems in just few weeks in the budget. With capacity to implement & correct as they move along!

  • @ajaymaken

    This is a Rs100 cr Budget. Unrealistic 100 cr schemes by 100 cr FM!

  • @MPNaveenJindal

    Words fail to describe the horror of this crime.81yrs old lady allegedly raped, strangled & set on fire. http://t.co/6G7X1hb1je

  • @Panda_Jay

    My Twitter handle changed yesterday to @PandaJay 😊, please follow that..

  • @ShashiTharoor

    Opinion: Madame Speaker, Just Say Yes. My @ndtv column on the leader of he Opposition imbroglio http://t.co/4KtcF9y50M

  • @Swamy39

    @jagdishshetty: I am meeting the President at 1.45 pm today on itq

  • @narendramodi

    Greetings on Aashadi Ekadashi. Best wishes to pilgrims praying at Pandharpur. May Lord Vitthal bless our nation http://t.co/OpmsL4WuVe

  • @abdullah_omar

    Also looking forward to some forward movement on the Kashmiri Migrant return package that has been pending with the centre for few years 2/2

  • @varungandhi80

    Kudos to the government for reuniting trapped nurses in Iraq with their families.

  • @ArvindKejriwal

    RT @jaavedjaaferi: Kejriwal U turn???? http://t.co/VeprvrNFJh

  • @SinghRPN

    .@sunetrac In last session,journo asked senior cabinet colleague 'Are you a Minister,Sir?Yes.Govt or opposition ?Govt, he answered patiently

  • @rajeev_mp

    5/5 Reforming Railways,making it financially viable professional entity is best fr all Indians,passengers & business 2 help #TransformIndia

  • @quizderek

    First ever goalless draw in a World Cup semi final #NEDARG

  • @

    New IITs, IIms a boost to skill sector; Rs 100 cr announced for village entrepreneurship training schemes http://t.co/VMcsPrCUca

  • @SushmaSwaraj

    Indians in Iraq - my statement in Lok Sabha on 9.7.2014 : (a) Several Indians got trapped in the conflict (cont) http://t.co/mNc6nsRSsQ


    Congratulations to Sri Amit Shah ji on becoming the BJP President. I am sure that BJP will scale new heights under his leadership.

  • @nitin_gadkari

    The previous few tweets that appeared in my time line are baseless and do not reflect my opinion.


    Full text of the Railway Budget 2014-15.... @RailMinIndia http://t.co/4amBpTqpbC

  • @umasribharti

    चन्‍द्रशेखर राव को बधाई. तेलंगाना राज्‍य का मेरा संकल्‍प एवं सपना पूरा, तेलंगाना की नदियों का ध्‍यान रखेंगें.

  • @AnanthKumar_BJP

    PRESS RELEASE ON RAILWAY BUDGET, 2014-15 PRESENTED today... @ http://t.co/BBKK9AuhsQ

  • @smritiirani

    RT @PIB_India: The current system compels children to go to Srinagar, nearly 3 hours away from Uri, to complete Standards XI and XII http:/…

  • @drharshvardhan

    Congratulations.My best wishes to the new president of Delhi BJP Satish Upadhyay.Wish him good luck and best wishes for a successful tenure.

  • @Gen_VKSingh

    @ajayk_jain thanks will do

  • @Rao_InderjitS

    Congratulations to @AmitShahOffice on becoming National President of the party. BJP will benefit immensely frm his management & org skills.

  • @nsitharaman

    @sri9011 Thank you and good morning.

  • @anandmahindra

    And the match winner... http://t.co/UEqxvq8z1e