10 Key takeaways from Interim budget 2014

Bonanza for auto sector with across the board excise duty cuts

Finance Minister P Chidambaram presented the Interim Budget for 2014, stressing that he has managed to fulfill his promise of keeping both the fiscal deficit and the current account deficit for FY14 under control.

Here are the key 10 takeaways from Interim Budget 2014

 

1) Fiscal deficit for FY14 to be contained at 4.6% of GDP; FY15 target at 4.1% 

 

2) FY14 Current Account Deficit seen at $45 bn
 

3) FY14 Q3 & Q4 GDP growth to be at least 5.2%
 

4) Excise cut on capital goods cut from 12% to 10% 

 

5) Excise duty cut on small cars and two wheelers reduced from 12% to 8% 

 

6) Excise duty for SUVs cut from 30% to 24% 

 

7) Excise duty for large and mid-segment cars cut to 20%

 

8) Excise duty on consumer durables cut from 12% to 10%

 

9) Rs 11,200 crore capital infusion in PSU banks

 

10) Rs 2,600 crore for education loan moratorium, to benefit 9 lakh borrowers for loans taken before March 31, 2009