Highlights of Interim Budget 2014-15

Finance Minister presented Union Budget on 17th February, 2014. Some of the Key Highlights of Interim Union Budget are

 Income tax rates are unchanged

 10 pc surcharge on 'super-rich' having annual income above Rs 1 crore to continue

 Fiscal deficit at 4.6 pc in 2013-14 and 4.1 pc next year, revenue deficit at 3 pc in 2013-14;

 Current Account Deficit to be USD 45 bn as against USD 88 bn in 2012-13;

Excise duty on small cars, motorcycles and commercial vehicles cut from 12 to 8 pc;

 Large and mid-segment cars from 27-24 pc to 24-20 pc

Excise duty on mobile handset to be 6 pc on CENVAT credit to encourage domestic production

Defence allocation increased by 10 per cent to Rs 2.24 lakh crore;

Excise duty cut on capital goods, non consumer durables cut from 12 to 10 per cent

Moratorium on interest on student loans taken before March 31, 2009; to benefit 9 lakh borrowers

Disinvestment target for FY14 cut to Rs 16,027 cr versus Rs 40,000 cr; next year govt eyeing Rs 36,925 cr;

 Lowers residual stake sale target to Rs 3,000 cr from Rs 14,000 cr for this fiscal;

 Govt obtains information in 67 cases of illegal offshore accounts of Indians;

 Govt's net borrowing in next fiscal to be Rs 4.57 lakh cr;

 Plan expenditure cut by Rs 79,790 cr for current fiscal;

 Allocates Rs 1,000 cr more to Nirbhaya Fund;

CCI cleared 296 projects worth Rs 6.6 lakh cr by end Jan;

GDP to grow by at least 5.2 pc in Q3 and Q4 in 2013-14;

 Plan expenditure for 2014-15 at Rs 5.55 lakh cr and non-plan at Rs 12.08 lakh cr;

 Govt to infuse Rs 11,200 cr in PSU banks next fiscal;

Government gets Rs 88,188 cr as dividend from PSUs, Rs 14,000 crore more than budgeted