Here are the highlights of Union Budget 2014 tabled by finance minister Arun Jaitley in Lok Sabha on 10 July 2014.
* Indian Custom Single Window Project to be taken up for facilitating trade.
* Clean energy cess increased from Rs 50/ tonne to Rs 100/tonne.
* Additional 5% excise tax to be levied on aerated drinks with added sugar (cold drinks). Tobacco products also to get costly as excise duty hiked to 72%.
* Government announces reduction in excise duty for specified food package industry from 10% to 6%.
* Excise duty on footwear reduced from 12% to 6%
* Government announces measures to encourage manufacture of LCD/LED panels of TVs.
* Housing loan rebate to raised from Rs 1.5 lakh to Rs 2 lakh.
* Government proposes to increase investment limit under Section 80C from Rs 1 lakh to Rs 1.5 lakh.
* Tax exemption limit for small and marginal, and senior tax payers changed from Rs 2.0 to Rs 2.5 lakh. For senior citizens, no tax for income up to Rs 3 lakh per annum.
* No changes in tax rate.
* PPF limit to be raised to Rs 1.5 lakh.
* Rs 100 crore for training of sportspersons for upcoming Asian Games.
* Government announces Rs 150 crore for communication needs of Andaman and Nicobar islands.
* Government announces Arun Prabha channel for northeastern region; will be 24/7 channel.
* Rs 1000 crore provided for rail connectivity in northeastern region.
* National Police Memorial to be set up. Rs 50 crore set aside for this purpose.
* Rs 100 crore War Memorial at Princess Park, India Gate.
* Policy of One Rank One Pension to be adopted for defence personnel.
* RBI will create framework for licenses of small banks.
* Rs 37, 800 crore allotted for National Highways.
* In order to complete gas grid, 15000 km of additional pipeline to be developed through PPP mode.
* Rs 4200 crore set aside for Jal Marg Vikas project on river Ganga connecting Allahabad to Haldia , over 1620 km.
* Rs 100 crore set aside for Kisan Television to provide real time information on various farming and agriculture issues.
* Agriculture University in Andhra Pradesh and Rajasthan, and Horticulture University in Haryana, Telangana; Rs. 200 cr set aside by the government.
* Govt announces Rs 100 crore for modernization of madrassas.
* Rs 100 crore set aside for Community Radio Centres; 600 new and existing ones will be supported.
* 5 more IITs and 5 IIMs to be set up .
* Propose to set up four more AIIMS; Rs. 500 crore set aside for this. Six new AIIMS started recently have become functional. Four new AIIMS will be set up in Andhra Pradesh, West Bengal, Vidarbha and Purvanchal.
* Govt proposes National Housing Banking programme; sets aside Rs 8000 crore for this program.
* Crisis Management Center for women at Delhi; money to be provided from Nirbhaya fund.
* Govt announces Beti Padhao, Beti Badhao Yojana; sets aside Rs 100 crore for this.
* EPFO will launch a unified account scheme for portability of Provident Fund accounts.
* Govt committed to providing 24/7 power supply to all homes. Deen Dayal Upadhyay Gram Jyoti Yojna for electricity supply to rural areas.
* Rs 200 crore for 'Statue of Unity' of Sardar Vallabh Patel.
* E-visas to be introduced at nine airports in India in phased manner.
* FDI in insurance to be increased to 49%.
* FM announces FDI in defence up from 26 to 49 % with Indian management and control.
* Aim to achieve 7-8 per cent economic growth rate in next 3-4 years.
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