Important Points of Union Budget 2014-15:

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1. Fiscal deficit target retained at 4.1% of GDP for current fiscal
2. Fiscal deficit target 3.6% for 2015-16
3. Fiscal deficit target 3% for 2016-17
4. Revenue Deficit seen at 2.9% for FY15
5. Aim to achieve 7-8 per cent economic growth rate in next 3-4 years
6. Target Agriculture growth rate at 4 %
7. Minimum pension of Rs.1000 per month to all PP schemes.
8. Defence FDI cap raised to 49% from 26% at present
9. Insurance FDI cap raised to 49% from 26% at present
10. Exemption limit on income tax from Rs. 2 lakh to Rs. 2.5 lakh.
11. For senior citizens, the exemption on income has been raised to Rs. 3 lakh per annum.
12. Tax-free cap on home loan interest from Rs. 1.5 to Rs. 2 lakh.
13. Annual PPF upper limit to be improved from Rs 1 lakh to Rs 1.5 lakh
14. Budget Allocate for Beti Bachao, Beti Padhao Yojana’ – 100 crores
15. Budget Allocate for National Rural Drinking Water – Rs 3600 cr
16. Budget Allocate for (Rural housing) national housing banking programme – Rs 8000 crore
17. Metro rails in PPP mode; for metro scheme in Ahmadabad and Lucknow – Rs. 100 cr
18. Budget Allocate to set up virtual classrooms – Rs 100 crores
19. Budget Allocate for setting up 5 more IIMs and IITs – Rs 500 crores
20. Budget Allocate for SC development – Rs 50,548 cr
21. Budget Allocate for Statue of Unity, a statue of Sardar Patel in Gujarat – Rs. 200 crore
22. Budget Allocate for irrigation plan named Pradhan Mantri Krishi Sichayin Yojana – Rs. 1000 cr
23. Budget Allocate for credit scheme for start-ups by those from scheduled castes and tribes – Rs 200 crores
24. Budget Allocate for creating Smart cities – Rs. 7060 cr
25. Budget Allocate for price stabilization fund – Rs. 500 crore
26. Budget Allocate for modernization of Madrasas – Rs. 100 crores
27. Budget allocated for Startup village to promote entrepreneurship
among rural youth – Rs 100 crore
28. Budget allocated for PM Sadak Yojana – Rs. 14,389 crores
29. Budget allocated to set up six textiles cluster – Rs 200 crore
30. e-visa for 9 cities to promote tourism
31. 15 Braille press to come up.
32. Currency note with Braille-like signs.
33. Bharat Swach Yojna proposed for hygiene and cleanliness.
34. Skill India scheme to make youth employable and create more entrepreneurs.
35. Assam and Jharkhand to get Centre of Excellence on farming.
36. Senior Citizens Pension Plan Extended Till August 2015
37. 100 soil testing laboratories across the country.
38. Agriculture University in AP and Rajasthan Rs. 200 cr
39. Horticulture University in Haryana, Telangana; Rs. 200 cr
40. Crisis Management Centre for women at Delhi
41. PSU Banks to Raise Rs 2.40 Lakh Cr Capital by 2018
42. Budget allocates for Internet connectivity in villages – Rs 500 cr
43. 12 more medical colleges will be added. Rs. 500 crore allocated for this.
44. 100 soil testing laboratories across the country.
45. Budget Allocate for development of 100 ‘smart cities Rs 7,000 crores
Note: i. 5 IIMs will be opened in – Bihar, Punjab, Odisha, Himachal Pradesh, Rajasthan – (BPOHR)
ii. 5 IITs will be opened in – Jammu & Kashmir , Kerala, Chattisgarh , Andhra Pradesh, Goa – (JKCAG)
iii. 4 AIIMs will be opened in – Andhra Pradesh, West Bengal, Purvanchal (Uttar Pradesh), Virbhadra (Maharashtra)
iv. Singapore to help India in 100 smart cities project

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