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India INTERIM BUDGET 2014

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  • India INTERIM BUDGET 2014

    FY 2014 Fiscal Deficit to be contained at 4.6% of GDP.
    FY 2015 Fiscal Deficit TGT at 4.1%.
    FY 2014 CAD will be contained at $45 Bn.
    Added $15 Bn of Forex Reserves IN FY 2014.
    Food Inflation continues to remain the main challenge.
    FY 2014 Food Grain production stands at 263 MT.
    Fall in Manufacturing Investment worrying.
    9 projects approved by DMIC Trust.
    Cabinet Committee cleared 296 projects by Jan-end.
    Farm Credit seen at Rs.7.35 lac Cr Vs Target of Rs.7 Lac Cr.
    FY 2014 GDP to be 4.9%.
    FY 2014 Quarter 3 & Quarter 4 GDP Growth to be at least 5.2%.
    Reject argument of policy paralysis.
    PSU Enterprises' Capex Was Rs.2.57 Lac Cr.
    FDI Policy was Liberalised to attract large investments.
    To start 4 UMPPs in FY 2015.
    UPA Govt has started gradual correction of diesel prices.
    FY 2015 central assistance to states seen at Rs 3.38 lac Cr.
    To provide Rs 1,200 Cr to North East states this fiscal.
    FY 2015 plan expenditure kept at Rs.5.55 lac Cr.
    The Govt remains fully committed to the #Aadhar for financial inclusion.
    FY 2015 Subsidies at Rs.2.46 lac Cr.
    FY 2015 Non-Plan spend at Rs.12.07 lac Cr.
    FY 2015 Food Subsidy at Rs.1.15 lac Cr.
    FY 2015 Fuel Subsidy at Rs.65,000 Cr.
    FY 2015 Defence spend to be Rs.2.24 lac Cr Vs Rs.2.04 lac Cr.
    FY 2015 Capital Infusion in PSU Banks to be Rs.11,200 Cr.
    FY 2015 Fertilizer Subsidy to be at Rs.76,000 Cr.
    Banks to lend Rs.8 Lac Cr to Agriculture Sector in FY 2015.
    To give Rs.3,711 Cr to Minority Affairs Ministry in FY 2015.
    Moratorium for Interest on Education loans from March 2009-December 2013.
    To Amend FMC Act to strengthen Commodity & Derivatives Market.
    To Liberalise Rs. Denominated Bond Market.
    To Finance Current Account Deficit through Foreign Flows.
    Excise Duty cut by 2% for CAP goods and Cons Durables.
    No Changes in Tax Laws.
    Excise Duty cut for small Cars and Bikes to 8%.
    Excise Duty for SUVs cut to 24% from 30%.
    Excise Duty on large and Mid-Segment Cars cuts to 20%.
    FY 2015 Revenue Deficit Pegged at 3%.
    FY 2014 Revenue Deficit at 3.3%.
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