Highlights: India’s 2014-15 Interim Budget

By | February 17, 2014

FISCAL DEFICIT: Fiscal deficit seen at 4.6 per cent of GDP in 2013/14

CURRENT ACCOUNT DEFICIT: Current account deficit seen at $45 billion

MERCHANDISE EXPORTS: Exports seen at $326 billion in 2013/14 up 6.3 per cent year on year

AGRICULTURE EXPORTS: Expected to touch $45 billion in 2013/14 up from $41 billion in 2012/13

SPENDING: Plan expenditure for 2014/15 seen at same level

Aiming at Fiscal deficit of 3% by 2016-17. Need foreign inflows to fund CAD: FM

RBI must strike a balance in price stability, growth.Govt should use PPP to fund infra:

Govt was able to unearth 67 cases of Black Money: FM

Excise duties for all categories of mobile phones revised to encourage manufacturing

Cut excise duty to 10% from 12% on some cap goods, non durable

Govt should target subsidies only to the needy. Skill development should be promoted

Cut excise duty on mid-segment cars to 20% from 24%: FM

FY15 Fiscal Deficit seen at 4.1% of GDP. FY15 Revenue Deficit seen at 3%

Govt pegs investment rate at 34.8%; Saving rate at 30.1%

FY15 Non-plan Expenditure seen at Rs 12.08 lk cr: FM

 

FINANCE MINISTER COMMENTS:

Our objectives were fiscal consolidation, reviving growth cycle, and enhancing manufacturing, said Chidambaram.

I can confidently assert that the fiscal deficit is declining, the current account deficit is constrained, inflation is moderated; exchange rate is stable, he said.

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