Important Points of Union Budget 2014-15

In recent exams of  SBI Clerk and IBPS RRB  questions were continuously asked from Union Budget 2014-15.

So here we are presenting you Important points of Union Budget 2014-15 which will be helpful in your upcoming exams.

Important Points of Union Budget 2014-15

1.    Fiscal deficit target retained at 4.1% of GDP for current fiscal  

2.    Fiscal deficit target 3.6% forr 2015-16

3.     Fiscal deficit target 3% for 2016-17

4.    Revenue Deficit seen at 2.9% for FY15

5.     Aim to achieve 7-8 per cent economic growth rate in next 3-4 years

6.    Target Agriculture growth rate at 4 %

7.    Defence FDI cap raised to 49% from 26% at present

8.    Insurance FDI cap raised to 49% from 26% at present

9.    Exemption limit on income tax from Rs. 2 lakh to Rs. 2.5 lakh.

10.  For senior citizens, the exemption on income has been raised to Rs. 3 lakh per annum.

11.  Tax-free cap on home loan interest from Rs. 1.5 to Rs. 2 lakh.

12.  Annual PPF ceiling to be improved to Rs 1.5 lakh from Rs 1 lakh

13.  Women Safety:

i. Outlay of Rs. 50 crores for a pilot scheme on road safety

ii. Another 150 crores to be spent by MHA on safety on women in larger cities

iii.  'Beti Bachao, Beti Padhao Yojana' - 100 crores

14.  Budget Allocate for National Rural Drinking Water - Rs 3600 cr

15.  Budget Allocate for (Rural housing) national housing banking programme - Rs 8000 crore

16.   Metro rails in PPP mode; for metro scheme in Ahmadabad and Lucknow - Rs. 100 cr

17.  Budget Allocate to set up virtual classrooms - Rs 100 crores

18.  Budget Allocate for setting up 5 more IIMs and IITs - Rs 500 crores

19.  Budget Allocate for SC development - Rs 50,548 cr

20.  Budget Allocate for Statue of Unity, a statue of Sardar Patel in Gujarat - Rs. 200 crore

21.  Budget Allocate for irrigation plan named Pradhan Mantri  Krishi Sichayin Yojana - Rs. 1000 cr

22.  Budget Allocate for credit scheme for start-ups by those from scheduled castes and tribes - Rs 200 crores

23.  Budget Allocate for creating Smart cities - Rs. 7060 cr

24.  Budget Allocate for price stabilization fund - Rs. 500 crore

25.  Budget Allocate for modernization of Madrasas - Rs. 100 crores

26.  Budget allocated for Startup village to promote entrepreneurship among rural youth - Rs 100 crore

27.  Budget allocated for PM Sadak Yojana - Rs. 14,389 crores

28.  Budget allocated to set up six textiles cluster - Rs 200 crore

29.  e-visa for nine cities to promote tourism

30.  15 Braille press to come up.

31.  Currency note with Braille-like signs.

32.  Minimum pension of Rs.1000 per month to all PP schemes.

33.  Bharat Swach Yojna proposed for hygiene and cleanliness.

34.  Skill India initiative to make youth employable and create more entrepreneurs.

35.  Assam and Jharkhand to get Centre of Excellence on farming.

36.  Senior Citizens Pension Plan Extended Till August 2015

37.  100 soil testing laboratories across the country.

38.  Agriculture University in AP and Rajasthan, and Horticulture University in Haryana, Telangana; Rs. 200 cr

39.  Crisis Management Centre for women at Delhi

40.  PSU Banks to Raise Rs 2.40 Lakh Cr Capital by 2018