Category Archives: Budget 2014

BUDGET 2014 HIGHLIGHTS : THINGS THAT MATTER TO US

Budget 2014 Highlights

Taxpayers

India_Tax

  • There have been no changes in tax rate. Tax exemption limit has been simply raised from Rs.2 Lakhs to Rs.2.5 Lakhs. So those earning 25000 to 30000 per month need to pay taxes if they do some savings too.
  • Savings / investment limit under Section 80C has been raised from Rs 1 lakh to Rs 1.5 lakhs which is a good news for those citizens who believe in savings.
  • PPF limit has been raised to Rs 1.5 lakh per year. Another good news for the Taxpayers is that Housing Loan rebate has been raised from 1.5 lakhs to 2 lakhs.
  • The Senior citizens has something theto cherish about. Saving exemption limit for them has been raised to Rs 3 lakh per annum.

House wives, & General Public

woman_condition

  • For Housewives, there is some good news and some bad. Whereas costs of Color TVs / LED TVs, cotton clothes, leggings, Oil & Oil products, shoes and soaps have been reduced but government has increased the duties on Cosmetics.
  • Costs of bottled / packaged consumer goods would go down as the government has decided to reduce duties on food processing. Duties on Medicines & all solar powered products have also been reduced.
  • The FM has assured that steps would be taken to boost supply of vegetables and reduce the juicy margins. Hoarding of essential commodities would be made a non-bailable offence.
  • A Price Stabilization Fund of Rs.500 crores has been setup to fight inflation.
  • Cigarettes Cigar, Pan Masala, Gutka, Tobacco and Tobacco products would be costlier. Bottled Juice and aerated water products with added sugar ie. cold drinks (such as Pepsi, Coke etc.) to be costlier.
  • Travelling in Radio Taxi & availing Catering facility would now cost you more.

Youths and Students

Budget 2014

  • Youths can cheer as the costs of Mobile, Laptops and Computers would go down. However, youths who like show-off their branded and designer clothes in their friend circle would have be shelve out more money for the Branded clothes with increase in duties.
  • There is further good news for students as the government has decided to setup four more AIIMS and 5 more IITs and IIMs. This would increase the overall seats of Engineering, Medical & Management aspirants in the IITs & AIIMs and going to create more job opportunities for them.

Defence Personnel

Defense| Fullonsms

  • Saluting the Real Heroes of the Nation, the government has approved the ‘One Rank One Pension’ policy for defence personnel which would benefit over 25 lakhs retired military personnel.
  • 49 % FDI has been allowed in the Defence Sector to boost production of defense equipments locally.

For Farmers

Budget 2014 |Fullonsms

  • The FM has tried to outline a road-map for modernization of agriculture techniques in India with a budgetary allocation of Rs 100 crore for setting up an “Agri-Tech Infrastructure Fund”
  • A 1000 crore scheme “Pradhan Mantri Krishi Sinchayee Yojana” has been initiated to provide assured irrigation.
  • Several Agriculture Research Centre and 100 mobile laboratories are to be setup and Rs.100 earmarked for Soil Health Card Scheme.

For North-East

  • Rs.1,000 crore for rail connectivity, Rs.2,000 crore for road connectivity and Rs.100 crore to promote ‘Organic Farming’ in North-East.
  • A 24×7 news channel called ‘Arun Prabha’, will be started in the northeast region.

For Ganga

Budget 2014

  • The Holy river seems to be the biggest gainer with the FM allocating Rs 2037 crore to clean up Ganga under the ‘Namami Ganga’ Project and a separate NRI fund has been setup to receive donations for conservation of ganga.
  • Rs 100 crore has also been set aside for development and beautification of the ghats at Kedarnath, Haridwar, Kanpur, Varanasi, Allahabad, Patna and Delhi.

A HOUSEWIVE DARES THE FINANCE MINISTER

Dear Jaitelyji,

Namaste! Accept my warm greetings on your first assignment as the Finance Minister and a challenging task to present the first Budget of the newly elected government to the country. I can understand it is difficult to present a budget that can please all the citizens but I have been doing the same for the last 15 years within the limited resources available within my kitchen.

arun_jaitley

15 years back when I was married, my husband promised me that our good day are going to arrive soon. But for the last 15 yrs I have been struggling to manage my home without any hint of ‘the good days’. It was only when your party promised that “Achhe Din Aane Wale Hain”, my faith was revived and I made sure to give you the mandate for the same. Now is the time for you to deliver the “Acche Din”(Good days).

budget 2014

I do not know the intricacies of the financial world and economic jargons and neither do have time enough for it. What I am concerned is about my Kitchen and my home and how to manage it within the limited budget available.

Why all the governments are against subsidies? Don’t you guys create Special Economic Zones and give away land at cheap rates to corporates and businessmen with the hope to create an infrastructure to sustain the economy in future. I too, toil day and night to creating a human-infrastructure for the country. One of my sons wants to be an engineer and the other wants to serve the country as an Army Officer. After another decade I am going dedicate to the country the best of the citizens. So what is the harm if you provide me LPG, water and electricity at subsidized rates?

bidgett 2014

I know inflation has to rise but what I am more concerned about are the basic things that are important for a family. If you want me to build a healthy and vibrant India do not allow the giant of inflation to swallows pulses, cereals, milk, and other basic grocery items. Any steep rise in costs of Fruits and Vegetables price should be controlled especially during adverse climatic conditions. Raise excise on Liquor and Cigarettes but please ensure that our children get food, milk, books and magazines, computers and internet at the cheapest rate possible. Costs of Cosmetics, DTH /Cable TV services and Mobile call rates and other house-hold items of daily use should be brought down.

vegetables price

Another thing that worries me is the cost of education. The school fees are becoming unmanageable and higher education drains out every penny we save for our future. Please let me know in this budget if you have plans to control the rising cost of education in India. If right to education is a fundamental right, then right to quality education at manageable costs should be a directive principle for the government. Do you have a vision to achieve this goal?

Finally, I must remind you that “Acche Din” or Good days should not be a term in ‘future continuous tense’ but should be converted into ‘Present Tense’ failing which the present government would have to settle down to ‘Past Tense’ after Five years.

Without any pre-judice

Regards

An Indian Housewife