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Interim Budget 2014: Small cars, bikes, SUVs, local mobile phones to be cheaper, no change in IT rates

New Delhi: In sops to middle-class ahead of the Lok Sabha polls, the Interim Budget today slashed excise duty on cars and two- wheelers, capital goods and consumer non durables and acceptance of long standing

India TV News Desk Updated on: February 17, 2014 17:50 IST
FM - Non plan expenditures will be over Rs.12 lakh crore

FM - Fuel subsidy will be around Rs 57,000 crore

FM - Defence budget is now up by 10%. It is now Rs 2.24 lakh crore.

FM - We have provided over Rs 1 lakh crore for food subsidy

FM: PSUs to achieve record capex of Rs 2,57,645 crore in 2013-14

FM: 500 MW fast breeder nuclear reaction in Kalpakkam to be ready shortly; 7 nuclear power reactors under construction

FM: National Solar Mission to undertake 4 ultra mega solar power projects in 2014-15

FM: Rs 1,200 crore additional assistance to N-E states to be released before end of the year

FM: Rs 3,370 crore to transferred to 2.1 crore LPG users; Govt committed to Aadhaar-based LPG transfer but scheme on hold temporarily.

FM - Will recapitalise the PSU banks. Banks are under stress.

FM - Banks will cross the Rs.7 lakh crore of agricultural credit. Our target is Rs.8 lakh crore.

FM: Govt announces One rank, One pension for all ex-servicemen

FM - Over 25 lakh students have got education loans. Over Rs.57000 crore being disbursed.

FM: Plan expenditure will be Rs 5,55,322 crore in 2014-15, unchanged from last fiscal

FM: Social Justice Ministry gets Rs 6730 crore; Panchayati Raj Ministry Rs 7000 crore

FM: Budgetary support to Railways increased from Rs 26,000 crore to Rs 29,000 crore 2014-15

FM: Rs 2,46,397 crore allocated for food, fertilizer and fuel subsidy

FM - LIC has opened more than 1000 offices. Other PSU insurance companies have opened more than 1800 offices

FM - One financial record for all individuals will be created

FM - India is the 11th largest economy is the world

FM - When we are aiming for high growth, there will be a moderate inflation

FM - Need to focus more on manufacturing sector

FM: Service tax relief storage for warehousing for rice

FM: Blood banks to be exempt from service tax

FM - I appeal to all political parties to pass the GST laws

FM - To boost growth excise duty will be reduced from 12% to 10%

FM - Automobile industry to benefit from excise duty reduction as small cars will become cheaper

FM: No change in income tax slabs

FM: Excise duty on all capital goods coming under Chapters 84 and 85 of Central Excise Act reduced from 12 pc to 10 pc till June 30, 2014

FM: Moratorium on education loan interest taken prior to 2009 till 2014. To cost government Rs 2,600 cr.

FM: I am disappointed that we could not introduce GST

FM: Govt has obtained information in 67 cases of illegal offshore accounts of Indians

FM: Excise duty on mobile handset to be 6 pc on CENVAT credit to encourage domestic production

FM: Excise duty on small cars, motorcycles and SUVs reduced.

FM - 140 miillion people have been lifted from the poverty

FM - I thank all my Cabinet colleagues, PM and Sonia Ji.
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