Highlights: Union Budget 2014

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.

Budget Speech English: Click Here

Budget Key Features English: Click Here