Confiscation and penalty with effect from the date on which the finance bill, 2015 receives. An analysis of union budget 201718 centre for budget and governance accountability. Union budget 2014 15 latest breaking news, pictures, videos, and special reports from the economic times. Medium term fiscal policy cum fiscal policy strategy statement. Times of india brings you indepth live coverage of union budget 2014, indian budget 2014 news and union budget 2014 highlights. Analysis of union budget 2014 15 linkedin slideshare. Union budget of a year, also referred to as the annual financial statement statement of the estimated receipts and expenditure of the government for that particular year union. Eu budget 2014, financial report european commission.
Expenditure management commission has formed to oversee the management of expenses during the period. Key to budget documents pdf file opens in a new window. Full text of budget 201516 speech february 28, 2015 14. Get the latest news and views of the union budget 201415. The budget documents presented to parliament comprise, besides the. Will the first budget of the modi governmnet live up to the expectations of the aamaadmi. The union budget 201415 was going to be a tough balancing act for finance minister mr. Compiled by cbga from budget at a glance, union budget documents, various years. Union budget 2014 15 blogs, comments and archive news on. From 20 february until the presentation of budget about 100 government employees remained locked up in the north block of the secretariat building, new delhi, which houses the budget printing press. This change will come into effect from 1st october, 2014 and same has been notified vide. Press information bureau government of india budget speech summary part a indian economy becoming a 3 trillion dollar economy this year with world. The union budget of india, also referred to as the annual financial statement in the article 112. The analysis which has been done by our team looks at both the macro implications of the proposals as well as the impact on various sectors.
Finance minister p chidambaram has rejected the charge of policy paralysis as he presented his interim union budget in parliament on monday. The new government has unveiled the union budget 201415 with a pragmatic recognition of. With regard to expenditure, the total expenditure is estimated to rise by 5. Challenging situation due to sub five per cent growth and double digit inflation. Railway budget, presented for 92 years, merged with union. Budget it is a document containing a preliminary approved plan of public revenue and public. Fiscal deficit as % of gdp the budget estimates of gross fiscal deficit is at 3. Majority of people have demanded to increase tax exemption limit from 2 lac to 5 lac but tax limit was enhance only by 50,000 rs. Macroeconomic framework for the relevant financial year. His budget speech largely recapitulated various achievements and incentives extended by the united progressive alliance government, before he proceeded to present the interim budget. The niti aayog committee headed by bibek debroy noted that a separate railway budget was just an annual ritual that should be done away with.
Union budget 201415 india, indian union budget 201415. While making his maiden budget speech in parliament on july 10, the union finance minister shri arun jaitley said that india has a strong. The rail budget will be merged with the union budget starting next year in what finance minister arun jaitley. Changes in the cenvat credit rules, 2004 and its impact in the union udget, 2015 presented by the honble finance minister shri arun jaitley on.
The union budget of 10th july 2014 was perhaps more of an intent document which contains many of the promises made during electioneering. We hope the government will be able to meet the set target in the fiscal year 201516. The tax rates for financial year 201415 assessment year 201516 in comparison to financial year 2014assessment year 201415 are as per annexure i. Arun jaitley, given the precarious state that the economy was in. Union budget 201516 india, indian union budget 201516. The economic survey 201415 february 27, 2015 also endorsed. While the fm touched upon the need for capital infusion in psu banks, the figure of rs,400 crore allocated this year was much lesser than rs15,800 crore the previous year. Union budget 201516 the union budget for 201516 has been announced by mr arun jaitley, union minister for finance, government of india, in parliament on february 28, 2015. The union budget for 201516 has been announced by mr arun jaitley, union minister for finance, government of india, in parliament on february 28, 2015. The new government has unveiled the union budget 2014 15 with a pragmatic recognition of macroeconomic woes and a thrust towards structural reforms. The following are the union budget 201415 highlights. A detailed analysis of the union budget 2014 15 follows, with particular focus on.
The beginning of the budget printing began on 19 february 2015 with the traditional halwa ceremony. Union budget analysis 7 it may be noted that the government was able to meet just 50% of the budgeted amount for disinvestment in the year 201415. Based on a projected buoyancy in nontax revenue and indirect taxes the nominal growth rate of gdp is expected to be 14% for 2012. Comparison of union budget 201415, 1516, 1617, 1718 1. This effort of care has been part of our tradition to provide this analysis as soon as possible after.
Sequence of presentation introduction terms and concepts used current economic situation analysis of union budget 201415 future vision conclusion 3. Brief summary, financial, general, family, it latest update. India budget analysis a change in direction deloitte. Union budget of india 201819 highlights pdf cracku. Union budget 201415 the budget was particularly positive for infrastructure, housing and agriculture. Highlights of the union budget 201415 presented by finance minister arun jaitley in the parliament on july 10, 2014. As per new budget tax exemption limit for individual is raised to 2. Memorandum explaining the provisions in the finance bill, 2011. Gross domestic product gdp growth of india for 201516 projected between 88. Key to budget 20142015, key to union budget, budget documents, key to budget 2014, updated union budget of india 201415, indian new budget 2014, budget highlights, budget news, budget notifications, budget changes, budget documents, 201415.
Union budget speech 201415 minister speech 20142015. The union budget of india for 20142015 was presented by arun jaitley on 10. The government will retain the fiscal deficit target for 201415 at 4. Union budget keeps the account of the governments finances for the fiscal year that runs from 1st april to 31st march. According to article 112 of the indian constitution, the union budget of a year, also referred to as the annual financial statement, is a statement of the estimated receipts and expenditure of the government for that particular year. We do hope to hence provide a comprehensive view of the budget which the reader should find useful. This budget had promised so many structural reforms that would propel growth and buoyancy back into the economy. Union 1 budget highlights fiscal deficit projected at 5. What are the pros and cons of merging the railway budget. Government, fiscal year 2014 provides data on budget receipts. Additionally rail budget, presented separately for 92 years, merged with union budget.
Union budget 201415 10th july, 2014 economy at standstill industry national industrial corridor authority to coordinate the development of the industrial corridors psus capital investment of rs 2,47,941 crores in fy15 to create a virtuous investment cycle impact egovernance will usher in transparency and accountability in the government processes. Agricultural budget, basic budget, important points, pension for senior citizens, changes made by the budget committee. However, this is partly due to the recommendations of the 14th finance commission. Government of india ministry of finance department of. Imports reduced prices of crude oil, for which india is heavily dependent on imports, reduced indias import growth from 0. People have voted for a change and india desires to grow.
Tariff act is reduced from 12 percent to 10 percent for the period upto 31. The union budget of india, also referred to as the annual financial statement in the article 112 of the constitution of india, is the annual budget of the republic of india. This will be a critical budget as it would be the first non congress budget after more than a decade. A change that has been brought by union budget, 201415 is amendment of rule 2a of service tax determination of value rules, 2006 wherein they have merged the categories 2 and 3 above into a single category with percentage of service portion as 70%.
Key highlights of the interim union budget 201415 union finance minister p chidambaram has presented the interim budget for fiscal year 201415. The union budget 20142015 aims to cater all groups of the society with a motto, sab ka saath sab ka vikas. This rationalization by way of merger of categories has been made to avoid disputes of classification between these two categories. The report stated that as the size of the railway budget has shrunken when compared to the overall genera. The budget documents presented to parliament comprise, besides the finance ministers budget speech, of the following. Rule 15 of the cenvat credit rules, 2004 substituted. Here are the highlights of the vote on account 2014. Dear all, we are happy to present before you details of budget 2014. President of ficci, sidharth birla stated that the fm has set the ground for repair of the economy.
Union budget 201415 sbicap securities limited 4 services tax is extended on sale of space or time for advertisements in broadcast media, extended to cover such sales on other segments like online and mobile advertising. Union budget 201415 india presented by mr p chidambaram, the union finance minister, in parliament on feb 17, 2014. Javacript is either disabled or not not supported by this browser. The separate railway budget, a 92yearold tradition, has been scrapped by the centre.
The union budget for 201415 has been announced by mr arun jaitley, union minister for finance, government of india, in parliament on july 10, 2014. This budget has also successfully offered rewards to individuals by. The practice of a separate railway budget was started by the british in 1924 under the recommendation of a 10member acworth committee. Largely the budget proposals of this year have sought to address key concerns in indirect taxes, without being reformative or populist. The growth in personal income tax collections will be affected, following the increase in personal. Awards 2014 winner of taxation firm of the year award india business law journals indian law firm awards. Now, considering the inflationary trends in the economy. There has been a mix of both shortterm and longterm measures geared towards.
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