Feb 28, 20 the union budget for 2014 aims at higher growth rate leading to inclusive and sustainable development as mool mantra. India budget 202014 highlights key features of budget 202014. Samiha garg hemant behl prateek bajaj nisha kalra puneet pal singh 2. Indias finance minister p chidambarampresented the union budget 2014 in parliament on february 28, 20 4. Oasd budget summary budget summary 46 this report presents a summary of 2014 financial results, as well as a budget summary for the upcoming 201415 school year. Investment allowance of 15% on new plant and machinery is a welcome step and is expected to increase investment in new projects while simultaneously providing tax benefit to industry. Mar, 20 amidst a state of economic slowdown, all eyes are on finance minister p chidambarams union budget 2014 to rescue the economy from the jaws of a possible sovereign downgrade. The total expenditure in the union budget 2014 is pegged at rs. Union budget 201415 india, indian union budget 201415, pdf. The interim union budget for 201920 was announced by mr piyush goyal, union. Revenue expenditure in the form of subsidies, pensions and interest payments which are unproductive form more than 80 percent of tax revenue.
Government expenditure was aimed at enabling and securing a sustained high and inclusive economic growth and development. Union budget 201415 india, indian union budget 201415. The union budget for 20 14 has been presented amidst a particularly challenging macroeconomic scenario. How does india government plan to raise income as per union budget 2014. On the one hand is the lok sabha elections of 2014 that calls for popular measures and increased spending from the government. The 2014 budget includes funding for performance related pay of. The theme of the national government budget for fy 2014 was transformation for shared prosperity. Complete coverage on union budget 202014, budget 20 highlights, indian railway budget.
Union budget 20 2014 the challenges facing the minister of finance minister of finance sri chidambaram is facing a tough task in preparing the union budget 20. This change is expected to have a positive impact on space utilization and accountability. The budget in brief presents a summary of the federal budget 20 14. Government of india ministry of finance 28february20. It is designed to provide, in a very concise way, essential information on revenues and expenditures budgeted for financial year 20 14 in juxtaposition with budget estimates and revised estimates for the outgoing financial year 2012. Day for which many individual was waiting has finally came, finance minister p chidambaram has presented union budget 2014 on 28 th feb,20. Hemang jani explains how the union budget 20 should look like and how its should not look like. Day for which many individual was waiting has finally came, finance minister p chidambaram has presented union budget 20 14 on 28 th feb, 20. Prior to budget many expectation were set that tax relaxation will be given, inflation will be reduced but for common man this budget seems to be disappointing. Based on a projected buoyancy in nontax revenue and indirect taxes the nominal growth rate of gdp is expected to be 14% for 2012. While the government of india goi has taken concerted efforts to arrest fiscal slippages and also announced some bold policy measures in the recent past, growth continues to slow alarmingly. The union budget for 2014 aims at higher growth rate leading to inclusive and sustainable development as mool mantra. Central excise tariff no change 4819 10 cartons, boxes and cases, of corrugated paper or paperboard.
Highlights and impact of the union budget 2014 on the. Very low allocation for capital expenditure interim budget 201415 figures are less than the 2014 budget estimates. The following are the major highlights of the union budget 2014 presented by the honble finance minister mr. The budget summary contained herein is consistent with the may budget proposal approved by the board and as such, does not reflect. Shockwaves on the richter scale, crorepatis clubbed with 10% surcharge blow p chidambaram decided to take a leaf out of the warren buffett rule book by whacking the wealthy. A special mention has been made of the views of the confederation of indian industry cii. Overview of the union budget 2014 grant thornton india. Comparison of union budget 201415, 1516, 1617, 1718. India budget 20 2014 highlights key features of budget 20 2014. Amidst a state of economic slowdown, all eyes are on finance minister p chidambarams union budget 2014 to rescue the economy from the jaws of a possible sovereign downgrade. Implications of the union budget of india 2014 abstract. Financial year 2014, then the balance can be claimed in financial year 201415. The economic times brings you the latest live update on union budget 20 14 presented by finance minister p chidambaram on 28th february 20.
Finance minister, p chidambaram has announced the union budget 2014 which has received mixed reactions from industry and academia. Aiming at 78 per cent gross domestic product gdp growth in 34 years. Complete coverage on union budget 20 2014, budget 20 highlights, indian railway budget. Union budget 201819 live updates highlights pdf download. The new session of union budget 2014 is ready to take place. Out of 76 lakh individual assesses declaring income more than rs 5 lakh, 56 lakh are salaried. For senior citizens, more specialised care the hindu. The new session of union budget 20 14 is ready to take place. As per the re of 201617, we will end the year with a high growth rate of 17% for the. The union budget for 2014 has been presented amidst a particularly challenging macroeconomic scenario.
Overview of the union budget 2014 2 without growth, there will be neither development nor inclusiveness, the finance minister rightly acknowledged it in his budget speech by stating that foreign direct investment is not a matter of choice, it. Some of the major highlights of the said budget are summed up below. Indian union budget 2014 date, indian general budget. A detailed analysis of the union budget 201415 follows, with particular focus on.
Indian union budget 2014 date, indian general budget 20. Union 1 budget highlights fiscal deficit projected at 5. Planning and development of this budget was undertaken in consultation with the academic and shared service units across campus. The increase in surcharge rates on both income tax as well as dividend distribution. Out of nearly 17 lakh registered assesses under service tax only 7 lakhs file returns. Major highlights of budget 20, railway budget 20, budget expectations and much more. Mar 06, 20 finance minister, p chidambaram has announced the union budget 2014 which has received mixed reactions from industry and academia.
Rs 1 lakh crore allotted for enhancing skills of youth. The new government has unveiled the union budget 201415 with a. This article starts with highlighting some the basics of the union budget 20 14. May 14, 2017 union budget 201718 union budget 2017 proposed to offer many benefits on small and medium enterprises sme in the country income tax on companies with annual turnover of less than rs 50 crore per year has been reduced to 25% from the earlier 30% the lending target for pradhan mantri mudra yojana mudra has been doubled to rs 2. Union budget 202014 the challenges facing the minister of finance minister of finance sri chidambaram is facing a tough task in preparing the union budget 20.
It is designed to provide, in a very concise way, essential information on revenues and expenditures budgeted for financial year 2014 in juxtaposition with budget estimates and revised estimates for the outgoing financial year 2012. Roadmap to take growth to double digit level this budget has laid down the roadmap for taking india to double digit growth. Budget for 2014 to have one overarching goal of creating opportunities for our youth. Government of india ministry of finance press information. The new budget model is intended to be transparent and strongly linked to academic goals and priorities.
No revision in tax slabs, tax credit of rs 2000 for income upto. Prior to budget many expectation were set that tax relaxation will be given, inflation will be reduced but for common man this. Compiled by cbga from budget at a glance, union budget documents, various years. Please note that due to the age of these documents they may not meet current web publishing requirements and may not be compatible with some software. Here are some highlights of what education received from the budget 2014. Historical budget documents are available for reference purposes. Return of income file without payment of self assessment tax to be considered as. Detailed information on budget expectations by different sectors of business and economic groups. The following are the major highlights of the union budget 20 14 presented by the honble finance minister mr. The budget of 201819 will be presented on thursday february 1 by union finance minister arun jaitley. It may be noted that the above deduction is over and above the existing entitlement of housing loan. Jan 25, 2015 budget 20, live budget, budget 20 14 india, union budget 20 14, budget 20 expectations, p chidambaram, post budget budget 20 highlights. Implications of the union budget of india 20 14 abstract. Budget at a glance, budget 202014 at a glance, highlights of central plan, explanatory notes, budget at a glance 202014, india.
Direct tax income limit under rajiv gandhi equity savings scheme rgess will be raised from rs. Union budget 201819 live updates highlights pdf free download. Union finance minister, mr p chidambaram presented the budget for the fy 2014 on 28th february, 20. The union budget for 2014 has forecast a fiscal deficit refer chart 1 of 4. Despite the moderation, wpi remains above the comfort zone.
In the context of the union budget 201718, it needs to be noted that due to the merging of the plan and nonplan expenditures, figures for certain components of resources transferred to states are not available for the previous years. Dtc proposals to raise rs,300 crore, indirect tax to fetch rs 4700 crore. The budget in brief presents a summary of the federal budget 2014. No revision in tax slabs, tax credit of rs 2000 for income upto rs 5 lakh.
Union budget 20 14 final authorstream presentation. Budget 20, live budget, budget 2014 india, union budget 2014, budget 20 expectations, p chidambaram, post budget budget 20 highlights. With this as mool mantra, the finance minister shri p chidambaram has sought to increase allocation to key areas and provide incentives for investments and savings while containing the fiscal deficit to 4. The union finance minister today presented the budget for the year. National health mission nhm services to an ageing population. We not only see a clear direction in which the economy is going to be steered but also the key milestones that we need to cross on the way. Based on a projected buoyancy in nontax revenue and indirect taxes the nominal growth rate of gdp is expected to be 14 % for 2012. The union budget of india for 202014 was presented by finance minister, p. The union budget for 2014 aims at higher growth leading to inclusive and sustainable development. Pharmaceuticals no major changes in the budget 2014. Latest budget news reports, views, budget videos, budget analysis, budget 20.
In a boost to geriatric care across the country, the national programme for the healthcare of the elderly has been allotted rs. The budget that will be presented by jaitley will be the first after the goods and services tax gst regime was implemented. Implications of the union budget of india economics essay. Out of nearly 17 lakh registered assesses under service tax only 7 lakhs file. The nonplan expenditure is estimated at rs 11,09,975 crore. Feb 01, 2017 the net tax revenue of 20 14 was rs 11. Kotak securities brings you various videos on the analysis and highlights of budget 2014 by our panel of financial experts. The university has adopted a new activitybased budget model commencing 20 14. Honble members will find from the budget documents that the gender budget has rs 97,4 crore and the child budget has rs 77,236 crore in. How does india government plan to raise income as per union budget 20 14. Budget 2014, live update on indian union budget 20. Surcharge of 10 per cent for taxable incomes above rs. The article then concludes by saying that overall it is a lukewarm budget. Upas interim budget 201415 vs ndas union budget 201415.
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