Budget 2014-15

Budget 2014-15

Finance Minister Arun Jaitley detailed his budget for 2014-15 today, the first under Prime Minister Narendra Modi's new government.

Here are the highlights of Budget 2014:

1.    Fiscal deficit target retained at 4.1% of GDP for current fiscal and 3.6 for 2015-16 and 3% for 2016-17

2.    Revenue Deficit seen at 2.9% for FY15

3.     Aim to achieve 7-8 per cent economic growth rate in next 3-4 years: FM

4.    Committed for growth of agriculture at the rate of 4 per cent.

5.    Defence FDI cap raised to 49% from 26% at present

6.    Exemption limit on income tax from Rs. 2 lakh to Rs. 2.5 lakh.

7.    For senior citizens, the exemption on income has been raised to Rs. 3 lakh per annum.

8.    Tax-free cap on home loan interest from Rs. 1.5 to Rs. 2 lakh.

9.    No change in Income tax rates and slabs .

10.  Annual PPF ceiling to be enhanced to Rs 1.5 lakh, from Rs 1 lakh

11.  Women Safety: