Thursday, 10 July 2014

FinMin Union Budget 2014

Key focused of Union Budget 2014:

* 10,000 crore startup fund for new businesses

* National accelerators & incubators for startups to be setup

* 100 crore agri-infra fund

* Definition of SME to be revised for high capital ceiling

* Rs. 100 Crore for Startup Village entrepreneurship for rural population

* Rs. 200 Crores for scheduled caste entrepreneurs

* Rs. 100 crore for setting up virtual classroom for online courses

* Direct Taxes : no tax rates change but increase in non-taxable personal income limit by INR 50000 i.e. from 2L to 2.5 L

* Young Leaders Programme to be set up with an investment of INR 100 crores

* Digital India programme to provide broadband connectivity in rural areas to increase government transparency

* Rs. 500 crores to set up software services in rural areas

* Funds to stimulate biotech in India

* INR 1000 crores for rail connectivity in North-East

* 500 cr for water reforms in Delhi and construction of Renuka Dam

* Setting aside INR 12 Lakh crore for non planned expenditure covering all essential activities (including fertizer subsidies and capital expenditure of armed forces)

* A national centre for Himalayan studies        to be set up Uttarakhand

* 100 crores – NE organic farming

* 200 crores for upgrading stadiums

                    The new government in India already shows a good sign for Indian economic development. The day of declaring result the sensex get a record highest point of 22k. Now the budget seems really promising for the development to the country's economic standards.

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