Monday, 17 February 2014

Interim Budget 2014: Highlights

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Interim Budget 2014: Highlights

* Income tax rates kept unchanged

* 10 % surcharge on ‘super-rich’ having annual income
above Rs. 1 crore to continue

* 10 % surcharge on domestic corporates with income of
Rs. 10 crore

* Foodgrain production estimated at 263 million tonnes
in 2013-14

* Fiscal deficit at 4.6% in 2013-14 and 4.1% next year,
revenue deficit at 3% in 2013-14

* Current Account Deficit (CAD) to be $45 billion as
against $88 billion in 2012-13

* Excise duty on small cars, motorcycles and commercial
vehicles cut from 12 to 8%

* Excise duty on SUVs cut from 30 to 24%

* Large and mid-segment cars from 27-24% to 24-20%

* Excise duty on mobile handsets to be 6% on CENVAT credit to encourage domestic
production

* Excise duty cut on capital goods, non-consumer durables cut from 12 to 10%

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

* $15 billion addition to foreign exchange in 2013-14

* 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


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