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Construction : Budget | July 2014 | Source : Construction Update

Union Budget 2014-15 Highlights

  • 1: 09 PM Arun Jaitley ends the Budget speech.
  • 1: 08 PM Indian Custom Single Window Project to be taken up for facilitating trade.
  • 1:08 PM Bio-medical waste disposal exempted from service tax.
  • 1:04 PM Indian Tour Operators serving foreigners to tour outside India exempted from service tax.
  • 1:04 PM Service Tax for broadcast and online advertisements; print advertisements exempted.
  • 1:01 PM Excise duty on tobacco products increased.
  • 1:01 PM Excise duty on solar sheets exempted
  • 1:01 PM Concessional excise duty on smart cards withdrawn.
  • 1:01 PM Soaps and oil products to become cheaper.
  • 12:59 PM Excise duty on food processing reduced to 6 per cent.
  • 12:58 PM 20 pc export duty on bauxite
  • 12:58 PM 2.5 per cent Customs duty on diamond, semi-precious stones
  • 12:58 PM Personal computers, electronic goods to be cheaper. FM announces proposals to make CRT TVs cheaper.
  • 12:57 PM Basic custom duty on all variety of coal made uniform.
  • 12:54 PM Custom duty on LCD, LED panels below 19 inches reduced.
  • 12:53 PM 10 pc customs on telecom products outside the purview of IT sector.
  • 12:52 PM BCC reduced on methane, ethane.
  • 12:51 PM Basic customs duty on non-fatty acids, glycerine to be reduced
  • 12:54 PM 60 more 'Ayakar Sewa Kendras' to be set up.
  • 12:48 PM FDI in insurance to be hiked to 49 per cent: Jaitley
  • 12:48 PM Direct Tax Code Bill will be reviewed.
  • 12:46 PM Direct Taxes and Indirect Taxes target same as that in interim budget
  • 12:45 PM Jaitley provides investment allowance at 15% for 3 years to manufacturing company which invest more than Rs 25 cr in plant and machinery
  • 12:44 PM 10 year tax holiday for power firms
  • 12:42 PM Surcharge, Cess and tax rates remains the same.
  • 12:42 PM Housing loans exemption increased to Rs 2 lakh
  • 12:42 PM Investment limit under 80 (C) increased to Rs. 1.5 lakh
  • 12:40 PM IT exemption increased to Rs. 2.5 lakh; Rs 3 lakh for senior citizens.
  • 12:39 PM FM: Propose to provide relief to individual tax payers.
  • 12:38 PM Revenue deficit to be 2.1 per cent of GDP
  • 12:36 PM Total expenditure stands at Rs. 17,94,892 crore
  • 12:35 PM Rs 150 cr for communication needs of A&N islands
  • 12:35 PM Rs 200 crore for power reforms and Rs 500 crore for water reforms in Delhi and NCR.
  • 12:32 PM Rs 1000 crore additional fund for developing rail connectivity in northeast.
  • 12:32 PM National Academy for Himalayan Studies to come up in Uttarakhand.
  • 12:32 PM Rs 500 crore for rehabilitation of displaced Kashmiri migrants.
  • 12:31 PM Rs 100 crore for training sports persons for upcoming Commonwealth Games
  • 12:31 PM Sports University to come up in Manipur.
  • 12:30 PM Rs 200 crore for upgrading indoor and outdoor stadium in Jammu And Kashmir.
  • 12:29 PM Govt to set up National Sports Academy.
  • 12:28 PM Pune and Kolkata to get new clusters for S&T.
  • 12:28 PM Bio-tech clusters in Faridabad and Bangalore to be scaled-up.
  • 12:27 PM NRI fund for Ganga will be set up.
  • 12:26 PM Rs 2037 cr for a mission on Ganga.
  • 12:23 PM Serious efforts for inter-linking of rivers will be made. Rs. 100 crore allocated for this purpose.
  • 12:23 PM RBI will create framework for licences of small banks: FM
  • 12:23 PM Rs 100 cr for development of Archaeological sites. Gaya to be developed as world class tourism spot
  • 12:21 PM Annual PPF ceiling to be enhanced to Rs 1.5 lakh, from Rs 1 lakh
  • 12:21 PM Rs 100 cr set aside for development of Technology Development Fund
  • 12:20 PM Rs 100 cr for construction of war memorial.
  • 12:20 PM Rs. 5000 cr additional outlay for Defence
  • 12:18 PM FM proposes to revitalize small saving scheme.
  • 12:18 PM 6 New SEZ proposed.
  • 12:17 PM Banks can give long-term funding to infrastructure.
  • 12:16 PM Time-bound programme will be launched to provide two bank accounts in each household.
  • 12:16 PM Indian Accounting Standard will be revamped
  • 12:15 PM Introduce one integrated DEMAT Account; inter-usable KYC norms on the anvil
  • 12:15 PM Completely revamp Indian Repository Receipts and introduce Bharat Respository Receipts.
  • 12:15 PM Revision of rate of royalty on minerals to be taken up on request from the states.
  • 12:13 PM Financial Sector Legislative Commission's recommendations will be examined and adopted, in close consultation with RBI
  • 12:13 PM Investment in NHAI and state highways to the tune of Rs 37,887 crore, including Rs 3000 crore for North East
  • 12:13 PM Rs 4200 crore set aside for 'Jal Marg Vikas' project on river Ganga connecting Allahabad to Haldia, over a distance of 1620 km.
  • 12:12 PM New and renewable energy deserves high priority; ultra modern power projects to be taken up in Rajasthan, Tamil Nadu, Ladakh with Rs 500 crore.
  • 12:12 PM FM: Impasse in coal sector will be resolved
  • 12:09 PM We have 15,000 km of gas pipeline in the country. It will be doubled by PPP model.
  • 12:09 PM Rs 100 crore for cleaner thermal power technology.
  • 12:09 PM 16 new ports to be set up. Rs 11,000 crore to be allocated for this.
  • 12:07 PM New airports to be developed through PPP mode
  • 12:07 PM Allahad-Haldia inland waterway on River Ganga.
  • 12:07 PM Slum development to be included in Corporate Social Responsibility activities.
  • 12:03 PM India has emerged as the largest PPP market in the world: Jaitley
  • 12:03 PM Rs. 200 cr for 6 more textile clusters in Rae Bareily, Lucknow, Surat, Bhagalpur
  • 12:03 PM Vastrakala academy in Delhi for handloom and handicrafts.
  • 12:02 PM MSMEs are the backbone of the economy; to be revived through a Committee to examine and report in three months
  • 12:01 PM Trade facilitation Centre and Craft Centre to promote handloom sector.
  • 12:01 PM Rs 10000 crore venture capitalist fund to boost start-ups.
  • 12:00 noon: 20 industrial clusters will be set-up.
  • 11:59 AM Industrial Smart Cities will be created in 7 places.
  • 11:58 AM All govt departments and ministries to be integrated through E-platform by 31 December this year
  • 11:58 AM Kakinada port to be developed for handling hardware exports.
  • 11:57 AM Rs. 100 cr set aside for Kisan Television to provide real time information on various farming and agriculture issues
  • 11:56 AM National Industrial Corridor with headquarters in Pune will be set up. Rs. 100 crores alloted.
  • 11:55 AM Rs. 200 cr for setting up 2000 producers' organisations across the country
  • 11:54 AM FM proposes to provide finance to 5 lakh landless farmers through NABARD
  • 11:54 AM Govts to be encouraged to develop farming markets
  • 11:54 AM Rs 5000 crore to improve agriculture storage infrastructure.
  • 11:53 AM Blue revolution in inland fisheries.
  • 11:53 AM National Adaption Fund for climate change to be set up
  • 11:52 AM Rs. 500 crore for price stabilisation fund.
  • 11:51 AM Committed for growth of agriculture at the rate of 4 per cent.
  • 11:50 AM 100 soil testing laboratories across the country
  • 11:45 AM Farming has contributed one-sixth of the GDP.
  • 11:44 AM AP, Rajasthan to get agriculture university; Telangana to get horticulture university
  • 11:44 AM FM: Rs 100 crore for modernisation of Madrasas
  • 11:41 AM Assam and Jharkhand to get Centre of Excellence on farming
  • 11:43 AM Rs 100 crore for Metro in Lucknow and Ahmedabad
  • 11:43 AM FTII Pune, SRFTI Kolkata will be accorded the status of institute of national importance, says Jaitley.
  • 11:39 AM Rs. 100 crores for Community Radios
  • 11:39 AM Propose to set up Center of Excellence in MP named after Lok Nayak Jai Prakash Narayan in Chhattisgarh
  • 11:38 AM 15 Model Rural Health Research centers to be set up for rural health issues.
  • 11:37 AM Govt proposes to set up 5 new IIMs and 5 new IITs.
  • 11:37 AM MGNREGA programme will be made more productive
  • 11:36 AM FM: Start-up village at Rs 100 crore to promote entrepreneurship among rural youth.
  • 11:36 AM FM: Rs. 14,389 crores for PM Sadak Yojana
  • 11:36 AM FM: New AIIMS will come up in Andhra, Maharashtra, Madhya Pradesh and Purvanchal
  • 11:35 AM FM: 12 more medical colleges with dental facilities
  • 11:35 AM FM: Rs 3600 crore set aside for National Rural Drinking Water.
  • 11:34 AM Arun Jaitely: Govt to set up 4 more AIIMS
  • 11:32 AM FM: Crisis Management Centre for women at Delhi, money to be provided from Nirbhaya fund
  • 11:31 AM Jaitley announces 'Beti padhao, beti badhao yojana', sets aside Rs 100 crore for this.
  • 11:29 AM Jaitley announces schemes for disabled persons in the country.
  • 11:29 AM FM: EPFO will launch a unified account scheme for portability of Provident Fund accounts
  • 11:28 AM Arun Jaitley: A large number of money lying unused in postal schemes etc. Propose to set up a committee to examine how this can be utilised
  • 11:28 AM 15 new Brail presses to be established and revival of 10 existing announced.
  • 11:27 AM FM: The govt is notifying Rs 1000 pension per subscriber of EP scheme. Rs 50 crores being set aside for this
  • 11:27 AM FM: Rs 200 crore set aside to support Gujarat govt in the Sardar Patel statue installation
  • 11:25 AM FM: Rs 500 crore for Deen Dayal Upadhyay rural electrification programme
  • 11:25 AM Government intends to cover every household in the country by 2019
  • 11:25 AM FM: Total sanitation goals to be achieved by 2019
  • 11:24 AM Arun Jaitely says government committed to providing 24/7 power supply to all homes
  • 11:23 AM FM: Pradhan Mantri Krishi Sichayin Yojana to be started for irrigation
  • 11:22 AM FM: Skill India programme to provide training and support for employment to be introduced
  • 11:22 AM FM says, We look forward to lower inflation
  • 11:20 AM FM proposes Rs. 7060 crores for the development of 100 smart cities
  • 11:19 AM FM: E-Visas to be introduced in 9 cities
  • 11:19 AM FM: We will examine proposal to give additional autonomy to banks and make them more responsible
  • 11:18 AM FM: PSUs to play their role constructively
  • 11:17 AM Arun Jaitley proposes measures to encourage smart cities development
  • 11:16 AM FM: FDI in defence up from 26 to 49 % with Indian management and control
  • 11:15 AM FM: India is an extensive buyer of defence equipment
  • 11:15 AM FM: India needs a boost for job creation
  • 11:14 AM FM: Propose to strengthen authority for advance ruling in tax
  • 11:14 AM FM: Goods and Services tax wait should come to end
  • 11:13 AM  Arun Jaitley: We wish to provide an investment friendly taxation system
  • 11:13 AM FM: Aim to achieve 7-8% economic growth rate in next 3-4 years
  • 11:12 AM FM: No changes in taxes retrospectively
  • 11:12 AM Assures that Union govt will be fair in dealing with states: FM
  • 11:11 AM FM Arun Jaitley presents Union Budget 2014
  • 11:11 AM FM says We have no option but to take some bold steps to spurt economy; these are only the first steps and are directional
  • 11:10 AM FM says Govt to form an expenditure management commission
  • 11:09 AM FM says Target of 4.1% fiscal burden is daunting
  • 11:07 AM The task before me today is very challenging; need to revive growth in manufacturing sector: FM
  • 11:06 AM We need to introduce fiscal prudence: Arun Jaitley
  • 11:06 AM Should we be victims of populism? Arun Jaitley asks
  • 11:05 AM We have to ensure that anti-poverty measures are well-targeted: FM
  • 11:05 AM There are green shoots of recovery in the global economy: FM
  • 11:04 AM We look forward to lower inflation, FM says
  • 11:03 AM People have voted for a change. India desires to grow: FM
  • 11.01 AM: Finance minister Arun Jaitley begins Union Budget presentation.
 
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