GROSS DOMESTIC PRODUCT ESTIMATED TO GROW AT 4.9 %, +/- 0.5 % IN FY14 - 15.
AT CURRENT PRICES THE ADVANCE GDP ESTIMATE OF 2013 - 14 IS ₹ Rs. 105,39,605 LAKHS CR AND AT 2004-05 PRICES ITS AT Rs. 57,48,564 LAKHS CR.
|BUDGET AT GLANCE (₹. in Cr) - 2014-15|
|1) REVENUE RECEIPTS||11,67,131|
|2) Tax Revenue (net to Centre)||9,86,417|
|3) Non- Tax Revenue (net to Centre)||1,80,714|
|4) CAPITAL RECEIPTS (5+6+7)||5,96,083|
|5) Recoviers of Loans||10,527|
|6) Other Receipts||56,925|
|7) Borrowings & other liabilities||5,28,631|
|8) TOTAL RECEIPTS (1+4)||17,63,214|
|9) NON PLAN RECEIPTS||12,07,892|
|10) On Revenue account of which||11,07,781|
|11) Interest Payments||4,27,011|
|12) On Capital Account||1,00,111|
|13) PLAN EXPENDITURE||5,55,322|
|14) On Revenue account||4,42,273|
|15) On Capital Account||1,13,049|
|16) PLAN EXPENDITURE (9+13)||17,63,214|
|17) Revenue Expenditure (10+14)||15,50,054|
|18) Of which Grants for creation of Capital Assets||1,46,581|
|19) Capital Expenditure (12+15)||2,13,160|
|20) REVENUE DEFICIT (17-1)||3,82,923|
|21) EFFECTIVE REVENUE DEFICIT (20-18)||2,36,342|
|22) FISCAL DEFICIT (16- (1+5+6))||5,28,631|
|23) PRIMARY DEFICIT (22-11)||1,01,620|
- No change in Income tax rates and slabs.
- Growth in Q3 and Q4 FY14 will be at least 5.2 %
- Fiscal Deficit to be contained at 4.6 %.
- Current Account Deficit will be contained at $45 million and can only be addressed by Foreign Investments.
- Core Inflation to be at 3 % but Food Inflation remains a Key worry.
- Agriculture GDP growth is expected at 4.6 % in current year.
- Exports have recovered sharply and is estimated at $ 326 billion in current fiscal.
- Gov to start 4 Ultra Mega Power Projects in FY15 and over 29,000 MW of power capacity to be added during the fiscal, there is a construction underway for 50,000 MW of conventional (thermal) Power.
- Two projects sanctioned under Nirbhaya Fund; orignal Rs. 1,000 Cr made non- lapsable; another Rs. 1000 Cr granted.
- There were 296 projects worth Rs. 6,60,000 Cr cleared by Cabinet Committee on investment by end of January 2014.
- Agriculture credit will cross $45 billion as against $41 billion in 2012-13.
- Food grain production estimated at $ 263 million tons in 2013-14.
- Foreign Exchange Reserves up by $ 15 billion.
- Over rs. 45,000 Cr allocated for scheduled caste sub-plan.
- Budgetary support to railway at Rs. 29,000 Cr in 2014-15.
- Plan Expenditure to be at Rs. 5,55,322 Cr in 2014-15.
- Non- Plan Expenditure in 2014-15 is estimated to be over Rs. 10 lakh Cr.
- Defence sector allocated Rs. 2.24 lakh Cr an increase of 10 % in the allocation inFY15.
- Govt approves 1 rank 1 pay for retired jawans.
- Proposes Rs. 11,200 Cr for Capital Infusion in Public Sector Banks.
- Budgetary support to railways raised to Rs. 29,000 Cr.
- All taxes on Eports to be waived for manufacturing sector.
- Community Radio to be promoted with Rs. 100 Cr.
- Excise duty on capital goods reduced from 12 % to 10 %.
- Cars to be cheaper as FM proposes to reduce excise duty on Automoblies. Excise duty on small cars.motorcycles reduced fom 12 % to 8 %.
- Excise duty onSUV's reduced to 24 % on large cars to 20 %.
- Excise duty for all mobiles phones to be 6 %.
- Saops, TV, Fridges to be cheaper now.
- Growth for next year should be 5 %.