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P Chidambaram presents Interim Budget 2014

Posted on Feb 17 2014 | IBNS

New Delhi, Feb 17 : Union Finance Minister P Chidambaram on Monday presented the Interim Budget 2014 where the fiscal deficit was seen at 4.6pc in FY14 against the target of 4.8pc .

Highlights of the Interim Budget 2014:

Fiscal deficit seen at 4.6pc in FY14 (against target of 4.8pc )

Agricultural exports seen at USD 45 billion

Agriculture credit will cross USD 45 billion against USD 41 billion in 2012-13

FY15 agri credit pegged at Rs. 8 lakh crore

FY14 agri output growth seen at 4.6pc

Excise duty cut to 10pc from 12pc

Excise duty on small cars, motorcycles, scooters reduced to 8pc from 12pc till 30.06.2014

Excise duty on SUV cut to 24pc from 30pc

Excise on large and mid segment cars at 20pc

Excise cut to 10pc on capital goods

Excise duty on consumer durables cut to 10pc from 12pc till 30.6.2014

Reject argument of policy paralysis

Plan expenditure to remain unchanged at Rs 5.55 lakh crore in 2014-15

Non planned expenditure at Rs 12.7 lakh crore

Fuel subsidy worth Rs. 35,000 crore to be rolled over in 2014-15

Food, fertilizer and fuel subsidy for 2014-15 at Rs 2.46 lakh crore, slightly more than Rs 2.45 lakh crore in 2013-14

Fuel subsidy pegged at Rs. 65,000 crore, food subsidy at Rs.1.15 lakh crore in 2014-15

Allocation for education loan moratorium at Rs. 26,000 crore

Defence allocation up 10pc at Rs. 2.24 lakh crore

Forex reserves to rise by USD 15 billion by end of 2013-14

Export seen at USD 326 billion showing 6.3pc year-on-year growth

Current account deficit for 2013-14 to be at USD 45 billion

10-year trend growth rate at 6.2pc , UPA I and II delivered above trend rate

Growth for FY14 estimated at 4.9pc ; Q3, Q4 growth seen at 5.2pc

FY14 PSU capital expenditure seen at Rs. 2.57 lakh crore

Central assistance to states to rise

Budgetary support to Railways hiked to Rs. 29,000 crore in FY15 from Rs. 26,000 crore in FY14

FY15 assistance to states at Rs. 3.8 lakh crore

To provide Rs. 1200 crore to north-east states

Nirbhaya Fund non-lapsable, to get Rs. 1,000 crore in FY15

IFCI to get Rs. 200 crore for venture capital fund

Target fiscal gap at 3pc of GDP by FY17

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