Live updates: Budget Feb 2014

 
Published: Thursday 11 June 2015

Live updates: Budget Feb 2014

  • Against expectations, Finance Minister Chidambaram proposed many sops, though limited

  • 140 million people lifted out of poverty in UPA's 10 years

  • Loading, unloading, packaging and storing of rice exempted from service charges

  • Deviating from convention, Finance Minister Chidambaram proposes indirect tax measures

  • Deregulation of diesel price is one of UPA government's major achievements, says Chidambaram

  • Excise rate reduced for small cars and SUVs

  • A research funding organisation has been proposed. This will follow competitive screening process to choose projects

  • Rs 1,200 crore additional funds for the Northeast this year

  • ICDS restructuring will be rolled out in 200 more districts to cover the whole country

  • Chidambaram interrupted; chaos over Telangana as expected

  • Rs 1.15 lakh crore for food subsidies

  • Rs 7 lakh crore bank loans to famers; coming year it is expected to be Rs 8 lakh crore

  • Flagship programmes will get prominence: Rs 4,300 crore for tribal affairs ministry; Rs 7,000 crore for panchayat institutions; Rs 82,800 crore for ministry of rural development

  • Forest Rights Act mentioned as UPA's big achievement

  • Youth, tribal people and women corner maximum benefits in interim budget

  • Ministry of drinking water and sanitation allocated Rs 15,260 crore

  • 10,080 MW power will be generated from seven nuclear plants in 12th Plan period 

  • Ministry of drinking water and sanitation allocated Rs 15,260 crore

  • More than 570 million Aadhar cards issued. More than 5.4 million transactions made under 27 identified schemesunder Direct Benefit Transfer 

  • Many space programmes and satellite missions planned in future

  • 'Nirbhaya' fund is non-lapsable pool. This year again 1,000 crore allocated, same as last year

  • Forest Rights Act mentioned as UPA's big achievement

  • National agroforestry policy budget allocation is Rs 444.59 crore

  • Deregulation of diesel price is one of our big achievements, says Chidambaram

  • Environment, inter-generational equity are the two new terms the FM used to describe UPA's last decade of works

  • Six times more spending on rural roads during 2005-2014

  • 100 million jobs from manufacturing in past one decade

  • Five times more spending on health. 10 years ago we spent Rs 7,248 crore on health; now the amount is Rs 36,322 crore

  • FM says investment projects got stuck due to 'logjam'. An obvious reference to environmental clearances

  • Food inflation is also largest in three years, 3.1% agricultural growth during 2005-2013

  • Agriculture: 263 million tonnes of foodgrain production. This is a new record, adds Chidambaram

  • Fiscal deficit at 4.96% of GDP during 2013-2014. Does this indicate reduced social spending?

  • Inequality is a challenge for all emerging economies, India is no exception, says finance minister

  • Despite global economy slowdown, we are growing, says Chidambaram

  • P Chidambaram begins presentationance Minister

  • P Chidambaram will shortly present the vote-on-account

  • In an election year, a government usually presents an interim budget for three to four months, which is also known as the vote-on-account. It leaves it to the next government to take important fiscal decisions

  • Given the economic slowdown, government may not declare major economic sops for tax payers

  • But with elections round the corner, the finance minister will present an assessment of its economic success of the past one decade

  • He will showcase the UPA's nearly Rs 12,00,000 crore social spending in the past decade. Expect creative data crunching to show big rise in socio-economic conditions of people, particularly the poor

  • The Finance Minister may increase allocation for health

  • Rural employment programme will get more funds; recently,tribal families have been promised 50 more days of work in a year under MGNREGA

  • Food subsidies will expectedly go up because of the rolling out of the National Right To Food Security law

  • Oil, fertiliser and food subsidies may be capped to two per cent of GDP

  • There are speculations about offer of a financial compensation package to Seemandhara after carving out of Telengana state from Andhra Pradesh

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