New Delhi, Feb 17 IANS | 5 months ago

The following are the highlights from the speech of Finance Minister P. Chidambaram who presented the interim budget for 2014-15 in the Lok Sabha Monday


* Challenges we face common to emerging economies

* India not unaffected by events in global economy

* Fiscal deficit at 4.6 percent

* Current account deficit at USD45 billion

* Hope to add USD15 billion to forex reserves

* WPI inflation at 5.05 percent in January

* Core inflation at 3 percent

* Food grain production in 2013-14 estimated at 263 million tonnes

* Exports estimated at USD326 billion in current fiscal

* Over 29,000 MW of power capacity added during fiscal

* Growth estimated in 2013-14 at 4.9 percent

* No policy paralysis

* 100 million jobs to be created in a decade

* 19 oil blocks allocated

* Seven new airports under construction

* Plan expenditure at Rs.5 lakh 55,322 crore in 2014-15

* Defence expenditure enhanced 10 percent to Rs.2 lakh 24,000 crore

* Budgetary support to railways at Rs.29,000 crore in 2014-15

* One rank one pension demand accepted; to be implemented with Rs.500 crore in 2014-15

* Two projects sanctioned under Nirbhaya Fund; original Rs.1,000 crore made non-lapsable; another Rs.1,000 crore granted

* Central assistance of Rs.3,38,562 lakh crore in 2014-15

* Construction underway for 50,000MW of conventional power

* Four solar generation plants of 500 MW each to be constructed in 2014-15

* Community radio to be promoted with Rs.100 crore

* Rs.65,000 crore for fuel subsidies

* India's economy at 11th; aiming to be third

* Fiscal deficit at 3 percent

* PPP model to be increasingly viewed

* All taxes on exports to be waived for manufacturing sector

* Exports estimated at USD326 billion in current fiscal

* Hope to add USD15 billion to forex reserves

* Plan expenditure in 2014-15 at Rs.5 lakh 55,322 crore; non-plan expenditure at Rs.12 lakh 7,892 crore.

* Fiscal deficit to be at 4.1 percne in 2014-15

* Duties cut to revive economy

* Excise on small cars/two-wheelers lowered to 8 percent, on SUVs to 24 percent, on large cars to 20 percent

* Blood banks exempted from service tax

* Research funding organisation to be created to promote scientific R&D

(Posted on 17-02-2014)