Budget 2014 by Arun Jaitly-Lets discuss impact on stock market, taxation and inflation
Today is the big day. Mr. Arun Jaitly, finance minister of India will be presenting the general budget 2014. We have already discussed the expectations from budget.
Lets analyse and discuss the announcements in budget 2014 and impact of budget on stock markets and tax rates.
Budget will have impact on Stock Markets, inflation and life of common man.
Lets wait and watch, what finance minister have for common tax payers. Whether rates or limits will be favourable?
No change in rules related to retrospective rules enacted.
To overhaul subsidies, specially related to food and fuel.
Changes in Transfer pricing rules purposed.
Fiscel Deficit at 3.16% targeted for FY 16.
Composite FDI in inusrance raised to 49%.
Composite FDI in Defence raised to 49%
To sell shares in Banks to Retail investors
To provide incentives for REITs.
1000 Crore allocated for PM Irrigation schemes.
7060 crore to develop 100 smart cities.
Committed to supply electricity 24x7 for all households.
Rs. 50,500 crore allocated for tribal schemes including SC and ST.
500 crore allocated for rural power schemes.
Rs. 14389 crore allocated for rural roads development
Rs. 12000 crore allocated for NHB (Housing)
Slum Development part of CSR (Corporate Social Responsibility)
50,000 crore allocated to increase warehouse capacity
PPF incentive increased from 1 lakh to 1.5 lakhs
2.29 Lakh crores for defence sector allocated.
Rs. 3000 crore for moderisation of State Police.
Exemption limit increased to 2,50,000
Increased from 2.5 Lakhs to 3 Lakhs for Senior citizens.
No changes in Education cess or surcharge.
80C limits increased from 1 Lakh to 1.5 Lakhs.
Self occupied property Interest limit increased from 1.5 Lakhs to Lakhs.
Retrospective amendments of Legislations will soon be done away with. However, already passed amendments will not be changed.