Today, Hon’ble Union Finance Minister Arun Jaitely Presents Union Budget for the Year 2014-2015. The Union Budget looks like :
- Rs 10000 crore venture capitalist fund to boost start ups, entrepreneurship
- Rs 200 crore for setting up 2000 producers organisation across the countries
- Rs 7,060 cr fund for smart cities
- Tourism: e-visas to be introduced at nine airports in the country in a phased manner
- Kisan Vikas Patra to be pushed further
- PSU 247,944 cr capex to create industrial cycle
- Rs 500 cr for rural electrification
- Rs 200 cr for Sardar Vallabhbhai statue in Gujarat
- Rs 50000 cr for SC/ST schemes
- Rs 150 cr on new scheme to improve safety of women in big cities
- ‘Beti bacahao, beti padahao’ scheme to be launched – Rs 100 cr allocation
- Rural housing scheme: allocation increased to Rs 8000 cr
- Watershed programme: New prog with outlay of Rs 2000 cr
- Backward region grant fund for 272 backward districts – BRGF will be restructured
- Rs 3600 cr for national rural drinking water programme
- Health for all: free drug and free diagnostic services
- Four more AIIMS to be set up in AP, WB, Vidharbha and Purvanchal – Rs 500 cr allocation
- 12 more govt medical colleges to be added
- Aim to create an AIIMS in every state. All six new AIIMS are functional, four more are under consideration, 12 more medical colleges will be added Rs 500 crore allocated.
- Govt to provide toilet and drinking water in all girl schools
- New teachers training scheme is being launched: Rs 500 cr allocated
- Rs 100 cr for virtual classrooms
- National Centre of Humanities would be set up in MP
- Five more IITs and five more IIMs to be set up in 500 crore
- Pan-India programme called Digital India would be launched – it will provide broadband connectivity to villages
- 5 new IITs in Jammu, Chhattisgarh, Goa, AP & Kerala
- 5 new IIMs in HP, Punjab, Bihar, Odisha & Maharashtra
- Program for upgradation of skills and ancient arts for the minorities
- Two more research institutes on farming to be set up in Assam and Jharkhand
- New agri univ in AP, Rajasthan
- Horticulture univ in Telangana and Haryana
- National rural and tech mission is proposed – Rs 500 cr allocated
- New plan to promote community radio – Rs 100 cr allocated
- Urban renewal to get Rs 50000 cr
- Urabn metro: govt will encourage metro system in PPP mode
- Rs 100 cr for Lucknow and Ahmedabad metro projects
- New mission for low cost affordable housing for urban poor – Rs 4000 cr allocated
- Easier flow of FDI is also being encouraged in this sector
- Rs 100 cr for modernisation of madrasas
- Slum development to be included in Corporate Social Responsibility activities
- Urban renewal will address drinking water, use of recycled water,solid waste management, digital connectivity; 500 habitats supported
- 15 Model Rural Health Research centers to be set up for rural health issues
- Anti-poverty programmes will be targeted well
- New scheme to provide soil health card to each farmer- Rs 100 cr allocated
- Climate change is a reality which we have to face – national adaptation fund for climate change to be set up – Rs 100 allocated
- Finance to 5 lakh joint farming groups through NABARD
- Price stabilisation fund to be set up – Rs 500 cr allocated
- State govts to be encouraged to set up farmers’ markets in cities and town
- Rs 8 lakh crore target for agriculture credit
- 3% tax subvention for farmers who pay up on time
- RIDF target raised to 30000 cr
- Warehousing: Rs 5000 cr allocated
- Set up long term rural credit fund to be started by NABARD
- Rs 5000 cr for STRC fund
- To set up 100 mobile soil testing labs across country
- See FY’14 growth at 4%
- Committed to restructuring FCI
- Kisan Television will be launched this year – this will provide real time info to farmers on farming techniques – Rs 100 cr allocated
- All the govt departments and ministries will be integrated through e-platform by 31 Dec this year
- Export proportion mission to be set up
- Committed to revive SEZs
- Effective steps to revilatise SEZs
- SMEs form the backbone of economy
- Most SMEs are owned and run by SC/STs and OBCs
- Committee to be set up to look at financing this sector
- National Industrial Corridor with headquarters in Pune will be set up. Rs 100 crores alloted
- Apprentice Act to be suitably amended to strengthen the Apprentice Training Scheme
- 6 more textile clusters to be set up at Bareily, Lucknow, Kutch, Mysore, Bhagalpur and TN
- Hastkala academy to be set up in Delhi
- Pashmina production prog in J&K
- To set up 7 new Industrial Smart Cities
- Manufacturing units will be allowed to sell products through retail, e-commerce
- Trade facilitation centre to promote handloom work in Varanasi
- Ganga inland navigation – jal marg from Allahabad to Haldia at the cost of Rs 4200 cr
- New scheme to develop new airports in tier 2 and tier 3 cities
- FDI in Defence Sector to go up to 49%
- NHAI and state highways get 37,000 cr which includes Rs 3000 cr for Northeast
- New expressways to be developed in parallel to the development on industrial corridors
- Rs 100 crore for new coal based power generation technology
- Big solar projects in Rajasthan, TN and Ladakh – Rs 400 cr allocated
- Current impasse in mining sector will be resolved expeditiously
- Royalty on mining will be reviewed as suggested by many state governments Capital markets
- Need to strengthen regulatory framework
- Essential to have modern monetary policy framework, Govt to work with RBI on this liberalise AGR-GDR scheme part
- Indian capital market to be energized by introduction of single KYC scheme
- Urgent need to converge INDIAN ACCOUNTING STANDRADS TO INTERNATIONAL standards
- Adherence to Indian accounting standards to be made mandatory by 2017
- Two bank in each household for marginal sections
- Banks to be encouraged to give long term loans to industrial sector
- Road sector needs huge investment
