Union Budget 2014-15 Highlights

Union Finance minister Arun Jaitley presented the annual Budget 2014-15 in Parliament on 10th July.

1. Fiscal deficit target retained at 4.1 pc of GDP for current fiscal.

2. Aims to achieve 7-8 pc growth rate in next 3 to 4 years.

3.FDI in defense raised to 49pc from 26pc.

4.Exemption limit of income tax set to 2.5 lakh from 2 lakh earlier.(limit for senior citizen will be now 3 lakh)

5.Annual PPF limit raised to 1.5 lakh from 1 lakh.

6.3600 cr for rural drinking water project.

7.500 crore for setting up 5 more IIM and IITs.

8.Rupees 50,548 crore for scheduled caste development.

9. Rupees 200 cr for Statue of Unity ,the dream project of PM Narendra Modi.

10. Rupees 2.29 lakh crore for defense ministry, marking an increase of around 12.5 pc.

11. Beti Bachao Beti Padao yojana to create awareness on Women's issues, rupees 100 cr allotted for the same.

12. Rupees 2037 cr for Ganga conservation mission 'Namami Ganga'.

13.Rupees 500 cr for 'Digital India' project to set up broadband connectivity in villages and promote local manufacturing of hardware and software.

14. Time bound program as "financial inclusion mission" to be launched on 15 august 2014.

15. Kisan Vikas Patra to be re introduced.