Monday, February 17, 2014

Finance Minister presents interim budget

Finance Minister P. Chidambaram presented  his 9th   and  India's 83rd budget  for 2014-15 in the Lok Sabha on 18-Feb-2014. 

The main budget for the financial year 2014-15 will be presented by the new government that will come into power after the general elections, the schedule for which are likely to be announced by the Election Commission soon.



* GDP expansion in 2013/14 third and fourth quarters will be at least 5.2 percent


* Fiscal deficit seen at 4.6 percent of GDP in 2013/14

* Says need to bring down fiscal deficit to 3 percent of GDP by 2016/17


* Current account deficit for 2013/14 projected at $45 billion

* Forex reserves to rise by $15 billion by end of 2013/14


* Merchandise exports seen at $326 billion in 2013/14, up 6.3 percent year on year.

Agriculture exports xxpected to touch $45 billion in 2013/14, up from $41 billion in 2012/13


* Plan expenditure for 2014/15 seen at same level as previous year

* Non plan spending estimated at about 12.08 trillion rupees in 2014/15


* Total spending on food, fertilisers and fuel at 2.5 trillion rupees in 2014/15


Spending raised to 2.24 trillion rupees in 2014/15, up 10 percent year on year


Govt to provide 112 billion rupees capital infusion in state run banks in 2014/15

Other Points to remember

Defence Ministry gets Rs 2,24,000 cr; 10 pc more than last time

Nirbhaya Fund gets additional Rs 1,000 crore in budget

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