Outline of the Union Budget for fiscal years 2014-15
presented by
Finance Minister Arun Jaitley in the Parliament
Presentation prepared by:
Nirav Desai
MBA IT
2014-2016
SICSR
Prepared by: Nirav Desai, MBA IT 2014-16
SICSR
1
FY 2014-15 Budget
Government objectives:
Government aims for sustained growth of 7-8%
Fiscal deficit at 4.1% of GDP targeted by end of this fiscal year
Steady and predictable income tax regime
Tax to GDP ratio at 10.6%
Prepared by: Nirav Desai, MBA IT 2014-16
SICSR
2
EXPENDITURES FOR FY 14-15
Rural Housing
Power+Water Infrastructure (Delhi)
Start-Up Fund
Defense Expenditure
5 Tourist Circuits
Sports Training
Displaced Kashmiri Migrants
Rail Connectivity in North East
Ganga Development Project
Young Leaders Program
State Police Modernisation
Socio Economic Development of villages
Heritage Sites
Police Memorial
War Memorial + War Museum
Clean Thermal Power
Industrial Corridor Expressway Development 37850
FUNDS ALLOCATED (crores)
1 crore = 10 million
₹
8,000.00
₹
700.00
₹
10,000.00
₹
229,000.00
₹
500.00
₹
100.00
₹
500.00
₹
1,000.00
₹
2,037.00
₹
100.00
₹
3,000.00
₹
990.00
₹
100.00
₹
50.00
₹
100.00
₹
100.00
₹
37,850.00
Prepared by: Nirav Desai, MBA IT 2014-16
SICSR
3
FY 2014-15 Budget Outlays (details):
Solar Power Generation
Agriculture Infrastructure Fund
Warehouse Capacity
NABARD
Price Stabilisation Fund
Affordable Housing (Urban)
National rural internet
5 IITs and 5 IIMS (new)
Rural Power Plan
Rural Roads
SCST Schemes
100 Smart Cities
PM Irrigation Scheme
Fuel Subsidy
Fertilizer Subsidy
Food Subsidy
Infusion in PSU Banks
Public Sector Expansion
Total Outlays Pan Expenditure
₹
₹
₹
₹
₹
₹
₹
₹
₹
₹
₹
₹
₹
₹
₹
₹
₹
₹
₹
500.00
100.00
5,000.00
500.00
500.00
4,000.00
500.00
500.00
500.00
14,389.00
50,500.00
7,060.00
1,000.00
63,430.00
72,970.00
115,000.00
112,000.00
247,000.00
989,576.00
Non-plan Expenditure
Plan Expenditure
Total Budget Expenditure
₹
₹
₹
1,220,000.00
575,000.00
1,795,000.00
Prepared by: Nirav Desai, MBA IT 2014-16
SICSR
4
FY 2014-15 Budget Outlays by sectors:
Sector
Energy Security
Food Security
Rural Infrastructure
Urban Infrastructure
Human Resources
Industrial Expansion
Spendi ng (l a kh crore)
₹
₹
₹
₹
₹
₹
₹
Prepared by: Nirav Desai, MBA IT 2014-16
SICSR
65,230.00
195,070.00
23,879.00
52,197.00
65,200.00
588,000.00
989,576.00
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FY 2014-15 Budget Outlays presented by FM Arun Jaitly:
Plan Expenditure: Rs. 7,42,576 core
PSU Expansion: Rs. 2,47,000 crore
Non-plan expenditure: Rs. 12,20,000 crore
Total Budget Outlays: Rs. 17,95,000 crore
5%
7%
2%
Energy Security
Food Security
Rural Infrastructure
66%
20%
59%
Urban Infrastructure
Human Resources
Industrial Expansion
7%
Prepared by: Nirav Desai, MBA IT 2014-16
SICSR
6
FY 2014-15 Budget Revenues details:
REVENUE SOURCE
EXPECTED MOP UP
(CRORES)
1 crore = 10 million
Income Tax (Direct Tax Code)
₹
284,000.00
Customs Duty
₹
202,000.00
Excise Duty
₹
207,000.00
Service Tax
₹
216,000.00
PSU Disinvestment
₹
43,425.00
Market Borrowing
₹
600,000.00
Receipts from communication services ₹
45,470.00
Revenues (Total)
Revenue Gap
Total Outlays
₹
₹
₹
Prepared by: Nirav Desai, MBA IT 2014-16
SICSR
1,597,895.00
197,105.00
1,795,000.00
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FY 2014-15 Budget Revenues by sectors:
EXPECTED MOP UP (CRORES)
Rs. 15,97,895
PSU Disinvestment
3%
Service Tax
13%
Excise Duty
13%
Customs Duty
13%
Other
43%
Income Tax (Direct Tax
Code)
18%
Market Borrowing
37%
Receipts from communication
services
3%
Prepared by: Nirav Desai, MBA IT 2014-16
SICSR
8
FY 2014-15 Budget New Policy Proposals:
Infrastructure Related Policies in Budget 2014-15:
Development of Inland Waterways
Development of 15000km of gas pipelines
NHAI target of 8000km of road development
Development of expressways along industrial corridors
All deparments and ministeries to be integrated through e-platform
Financial Sector Related Policy Proposals:
Consolidation of PSU banks
New Indian Accounting Standard from FY17
Insurance Bill to be tabled
Liberalization of FDI in e-commerce
Goods and Services Tax will be approved by the end of the year
Prepared by: Nirav Desai, MBA IT 2014-16
SICSR
9
FY 2014-15 Budget New Policy Proposals:
TAX RELATED CHANGES
Education cess 3%
Portfolio income of FIIs under capital gains tax
Home loan deduction up to 2 lakhs (Sec 80C)
Dividend Income Tax 15%
Long term capital gains tax on Mutual Fund (>36 months): 20%
Personal Income Tax Limit raised from 1.0 lacs to 2.5 lacs
Customs and Excise Duties:
Customs on Coal: 2.5%
Export duty on bauxite: 20%
Packaging machinery, packaged foods, shoes: Excise duty of 6%
Telecom equipment: Excise duty 10%
Cigarettes: Excise Duty 72%
Prepared by: Nirav Desai, MBA IT 2014-16
SICSR
10
References:
• Twitter feed of CNBC TV-18 and ET NOW news
networks
• Times of India, The Hindu: Online Newspapers
• Reuters (online)
Prepared by: Nirav Desai, MBA IT 2014-16
SICSR
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