Highlights of Union Budget 2014 (Part-II)

Finance Minister Arun Jaitley presented the Union Budget for 2014 in the Lok Sabha today.

the highlights are as follows:

Government will take steps to reduce pressure on banking system

FDI in defence and insurance sectors raised to 49 percent each.

E-Visas to be allowed at nine airports across India

Tax-to-GDP ratio must be raised

Banking sector needs to be strengthened

Need to revive growth particularly in manufacturing sector and infrastructure

Anti-poverty programmes will be targeted well

Government to aim to achieve 7 to 8 per cent growth in next 3-4 years

Government to usher in policy regime for higher growth, lower inflation

Government says slow decision making has resulted in loss of opportunity

To encourage development of smart cities, FDI cap on minimum built up area reduced

Rs. 500 crore for Deen Dayal Upadhyay Rural Electrification Programme. Sardar Patel statue work will be completed in Gujarat.