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Prime Minister Narendra Modi's new government unveiled a budget it said can revive growth after the longest slowdown in a quarter of a century even while curbing borrowing.Finance Minister Arun Jaitley told parliament that India's 1.2 billion people were "exasperated" after two years of economic growth below 5 percent.
He also said he would set up a high-level committee to review retrospective tax claims blamed for choking off foreign investment after companies such as Britain's Vodafone were hit with massive demands.Jaitley raised limits on foreign investment in defence and insurance ventures to 49 percent from 26 percent. Foreign defence contractors had sought a higher threshold to justify sharing technology when they site operations in India, a major arms buyer.
The budget for the fiscal year to March 2015 was delayed by this year's general election, which handed Modi's Bharatiya Janata Party (BJP) the strongest electoral mandate in India in three decades.Here are some highlights of India Union Budget 2014 :-
Annual PPF ceiling to be enhanced to Rs 1.5 lakh, from Rs 1 lakh
Airports to be developed in tier 1 and 2 cities, 16 new port projects to be awarded this year
Rs 37, 800 crore allotted for National Highways.
Revision of rate of royalty on minerals to be taken up on request from the states.
In order to complete gas grid, 15000 km of additional pipeline to be developed through PPP mode.
New and renewable energy deserves high priority; ultra modern power
projects to be taken up in Rajasthan, Tamil Nadu, Ladakh with Rs 500 crore
Investment in NHAI and state highways to the tune of Rs 37,887 crore, including Rs 3000 crore for North East
Prime Minister Narendra Modi's new government unveiled a budget it said can revive growth after the longest slowdown in a quarter of a century even while curbing borrowing.Finance Minister Arun Jaitley told parliament that India's 1.2 billion people were "exasperated" after two years of economic growth below 5 percent.
He also said he would set up a high-level committee to review retrospective tax claims blamed for choking off foreign investment after companies such as Britain's Vodafone were hit with massive demands.Jaitley raised limits on foreign investment in defence and insurance ventures to 49 percent from 26 percent. Foreign defence contractors had sought a higher threshold to justify sharing technology when they site operations in India, a major arms buyer.
The budget for the fiscal year to March 2015 was delayed by this year's general election, which handed Modi's Bharatiya Janata Party (BJP) the strongest electoral mandate in India in three decades.Here are some highlights of India Union Budget 2014 :-
Annual PPF ceiling to be enhanced to Rs 1.5 lakh, from Rs 1 lakh
Airports to be developed in tier 1 and 2 cities, 16 new port projects to be awarded this year
Rs 37, 800 crore allotted for National Highways.
Revision of rate of royalty on minerals to be taken up on request from the states.
In order to complete gas grid, 15000 km of additional pipeline to be developed through PPP mode.
New and renewable energy deserves high priority; ultra modern power
projects to be taken up in Rajasthan, Tamil Nadu, Ladakh with Rs 500 crore
Investment in NHAI and state highways to the tune of Rs 37,887 crore, including Rs 3000 crore for North East
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