KEY HIGHLIGHTS OF UNION BUDGET 2014-15:
Taxation
Personal tax exemption limit raised to Rs 2.5 lakh from current Rs 2 lakh for taxpayers below 60 years
Senior citizens exemption limit hiked from Rs 2.5 lakh to Rs 3 lakh
Senior citizens exemption limit hiked from Rs 2.5 lakh to Rs 3 lakh
No change in surcharge for corporates , individuals
Education cess to stay at current 3%
Investment limit under 80C hiked to Rs 1.5 lakh from current Rs 1 lakh
Exemption on housing loans interest on self- occupied pro increased from Rs 1.5 lakh to 2 lakh
Exemption on housing loans interest on self- occupied pro increased from Rs 1.5 lakh to 2 lakh
The people of India have decisively voted for change
India unhesitatingly desires to grow
We look forward to lower levels of inflation
The country is no mood to suffer from unemployment, lack of infrastructure and apathetic governance
The continuing slowdown in emerging economies has posed threat to global economic recovery
Slow decision-making has led to slow growth
Steps announced in the budget are aimed for sustained growth of 7-8% within the next three-four years
It would not be wise to expect that the same can be done and must be done in the first budget being presented within the first 45 days of the new govt
We will leave no stone unturned to create an vibrant and strong India
Will lay down broad policy indicators in the budget
We cannot spend beyond our means, we needs to follow fiscal prudence