LIVE budget updates in.reuters/ Finance Minister says – - Aims to approve goods and services tax by the end of this year - Raises limit on foreign direct investment in insurance sector to 49 pct - Earmarks 70.60 billion rupees to create 100 smart cities - Raises limit on foreign direct investment in defence sector to 49 pct - Will not change rules on retrospective taxation - We cannot spend beyond our means - Four more AIIMS instiutions in Andhra Pradesh, West Bengal, Vidarbha in Maharashtra and Purvanchal - Allocates 200 crore rupees to the government of Gujarat for its Statue of Unity project - 8 lakh crores credit target for banks for FY15 - Announces five more IITs and IIMs - Long- term rural credit fund with initial corpus of 50 bln rupees - Extends additional tax incentives for housing loans - Proposes 80 bln rupees for rural housing scheme - Will encourage development of metro rail systems - 4000 crore rupees for national houseing banks for affordable housing - To make rural employment welfare scheme more focused on asset creation - separate curriculum for gender mainstreaming - To make food, petroleum subsidies more targeted - Fiscal deficit seen at3.6 pct of GDP in 2015/16 - Accepts target of 4.1 pct of GDP fiscal deficit 2014/15 - Tax-to-GDP ratio must be raised - Aims sustained growth of 7-8 pct in next 3-4 years - 500 crores for estabilishing price stabilisation fund - Apprentices Act to be amended
Posted on: Thu, 10 Jul 2014 05:42:02 +0000
Trending Topics
Recently Viewed Topics
© 2015