" Problem of black money to be fully addressed"
New Delhi, July 10 - The following are the highlights of the general budget for 2014-15 presented Thursday by Finance Minister Arun Jaitley in the Lok Sabha:

IT exemption limit for those below 60 raised from Rs.2 lakh to Rs.2.5 lakh; from Rs.2.5 lakh to Rs.3 lakh for senior citizens

Investment limit under Section 80C of the Income Tax Act raised to Rs.1.5 lakh.

Deduction limit on account of interest on loan in respect of self-occupied house property raised from Rs.1.5 lakh to Rs.2 lakh.

No change in surcharge for corporates; education cess to continue

Excise duty on cigarettes raised from 11 percent to 72 percent

Allocation of Rs.150 crore to improve safety of women in larger cities

Allocation of Rs.100 crore for Beti bachao, beti padhao (Protect the girl child, educate the girl child) programme

Allocation of Rs.500 to support Kashmiri Immigrants for rebuilding their lives

Total sanitation in every household by 2019

Colour TVs to cost less on reduced customs duties

Free baggage allowance raised from Rs.35,000 to Rs.45,000

Excise duty on footwear halved

Total expenditure in 2014-15 estimated at Rs.17,97,892 crore; plan expenditure estimated at Rs.12,19,892 crore

Budget will lay down steps aimed at 7-8 percent growth in next few years; aim is Sub ke saath, sub ka vikas (With everyone, For everyone's development)

Government committed to achieve fiscal deficit of 4.1 percent in 2014-15, 3 percent by 2015-16 and 2 percent by 2016-17

Defence allocated Rs.229,000 crore; modernisation gets Rs.5,000 crore over and above interim budget

FDI in defence sector raised to 49 percent from 26 percent

Allocation of Rs.1,000 crore for implementing One Rank One Pension scheme

War Memorial and War Museum to be established at Princess Park in New Delhi; Rs.1,000 crore allocated

Allocation of Rs.50 crore for National Police Memorial

Allocation of Rs.2.037 crore for creating integrated Ganga conservation mission

Jal Marg Vikas programme to be launched to promote navigation on Ganga from Allahabad to Haldia

Ghat development at Kedarnath, Haridwar, Kanpur, Varanasi, Allahabad, Patna and Delhi gets Rs.100 crore

Hastkala Academy to be set up with allocation of Rs.30 crore

Six more textile clusters to be set up with allocation of Rs.200 crore

Allocation of Rs.200 crore for power reforms and Rs.500 crore for water reforms to make Delhi a truly world-class city

E-visas to be introduced at nine airports

Five new tourist circuits to be established; Rs.500 crore to be allocated for this

World class convention centre to come up in Goa

National sports academies to be set up for disciplines like shooting, wrestling and boxing; Jammu and Kashmir gets Rs.200 crore to upgrade sports facilities; Sports university to come up in Manipur

Negative list for service tax reduced

Thirteen more airports to get 24x7 customs facilities

Excise duty to be cut to revive manufacturing

Revenue loss of Rs.22,000 crore due to direct tax proposals

Government committed to implement GST at the earliest; issues raised by states to be resolved

Gas pipeline grid of 15,000 km needs to be doubled

Six debt recovery tribunals to be set up

Bharat Depository Receipt to be created

Uniform KYC norms to be introduced across entire financial sector

Steps to revive SEZs

Sixteen new port projects to be taken up this fiscal

Development of industrial corridors with emphasis on smart cities linked to transport connectivity

Skill India to be launched to train the youth with emphasis on employability and entrepreneur skills

Target of constructing 8,500 km of national highways in current fiscal

Second Green Revolution to be launched with focus on protein revolution

Sustainable growth of 4 percent in agriculture to be achieved

Price Stabilisation Fund of Rs.500 Crore for mitigating risk of price volatility in agricultural produce

Corpus of Rs.5,000 crore for long-term loans to farmers

Kisan TV to be launched to disseminate information in real time

Allocation of Rs.14,389 crore for rural roads

Allocation of Rs.500 crore to provide 24x7 power in rural areas

Allocation of Rs.8,000 crore to improve rural housing

Allocation of Rs.100 crore for soil testing facilities

Allocation of Rs.50 crore for breeding of indigenous cattle

Allocation of Rs.500 crore to improve broadband connectivity in rural areas

New scheme to provide assured irrigation

Export promotion mission to be established to bring all stakeholders under one umbrella

FDI limit in insurance sector raised to 49 percent

Allocation of Rs.500 crore for 5 more IITs and 5 more IIMs

All states to get AIIMS like institutions

Allocation of Rs.100 crore to promote good governance

Allocation of Rs.3,600 crore for drinking water schemes

Allocation of Rs.4,000 crore for National Housing Bank

To print currency notes with Braille signs

Shares of PSU banks to be sold to retail investors

CBDT to scrutinize all cases under 2012 law on retrospective tax cases

Problem of black money to be fully addressed

Expenditure Management Commission to be established this fiscal


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