Free Press Journal
  • Domestic cos can obtain advance ruling on tax liability

    New Delhi: With Rs 4 lakh crore locked in litigations, Finance Minister Arun Jaitley today proposed to allow domestic companies to obtain advance ruling with regard to their direct and indirect tax liabilities.

  • Right To Education

    Government launches Beti Bachao, Beti Padhao Yojana

    New Delhi: Government has introduced a new scheme called Beti Bachao, Beti Padhao, which will help in generating awareness and improving the efficiency of delivery of welfare services meant for women with an initial corpus of Rs 100 crore.

  • Budget 2014: Social Media erupts with responses

    New Delhi: Social media reactions began pouring in today as soon as Finance Minister Arun Jaitley started presenting the maiden Union Budget of the Modi government.

  • Realty stocks surge as much as 11% post Budget

    Mumbai: Real estate stocks surged as much as 11 per cent after Finance Minister Arun Jaitley today announced plans to provide incentives for establishment of real estate investment trusts.

  • Blast in Pune

    Pune: At least two people, including a woman, were injured in a low intensity explosion in a motorbike at a parking lot here Thursday, officials said.

  • Budget 2014 Highlights – Sports

    * Allots 1 bln rupees for Asian, Commonwealth Games training
    * To set up sports institute in Manipur
    * To give 2 bln rupees to develop sports infra in J&K
    * Allots 1 bln rupees for sports university in Manipur
    * 2 bln rupees for indoor, outdoor stadiums in J&K
    * To set up natl sports academies for major sports

  • Budget 2014 Highlights – STATES

    * Govt committed to address issues in Andhra, Telangana
    * 2 bln rupees to improve power availability in Delhi
    * Allots 5 bln rupees for Delhi water reforms
    * Plan 24X7 TV channel for North Eastern states
    * 1 bln rupee for centre for Himalayan studies in Uttarakhand
    * 10 bln rupees to up rail connectivity in Northeast
    * Allots 1 bln rupees for organic farming in northeast
    * Allocate 5 bln rupees for displaced Kashmiri migrants
    * Biotech clusters to be

  • Budget 2014 Highlights – TECHNOLOGY BOOST

    * Allot 1 bln rupees for Technology Development Fund
    * To allow mfg cos to sell pdts on e-commerce platform freely
    * Special focus on software exporting start-ups
    * Allots 5 bln rupee for rural broadband programme
    * Set aside 1 bln rupees for virtual classroom projects FY15
    * Plan to launch pan-India Digital India programme
    * Need to boost pvt, public investment in agro tech sector

  • Budget 2014 Highlights – Education

    * To set up five more IITs, 5 more IIMs
    * Allots 5 bln rupee to set up more IITs, IIMs
    * Plan IIMs in Punjab, Odisha, Bihar, Maharashtra, Himachal
    * Plan 5 more IITs in Chattisgarh, Goa, J&K, Andhra, Kerala
    * To start Pandit Madan Mohan Malaviya Teaching Programme
    * Allots 2 bln rupees for new agri, horticulture universities
    * Plan to have horticulture university in Haryana, Telangana
    * Plan to set up agricultural university in Andhra, Rajasthan
    * Allocate 1

  • Budget 2014 Highlights in SUBSIDIES

    * Aim to make food subsidy better directed, more inclusive
    * To review food, fuel subsidy
    * Food, oil subsidy to be more targeted
    * New urea policy will be formulated

  • Budget 2014 Highlights in FDI

    * To hike FDI in insurance to 49%
    * FDI in several sectors provides additional resources
    * To hike FDI in defence to 49%
    * NDA policy to encourage FDI in selective sectors
    * Domestic defence mfg sector at nascent stage
    * FDI in selected sectors to help larger interest of country

  • Budget 2014 Highlights: SOCIAL SECTOR

    * 9.9 bln rupee for socio econ development of border villages
    * Allocate 1 bln rupees for good governance plan
    * Plan to include slum redevelopment in CSR
    * Allot 1 bln rupees for agri infra fund
    * Plan 500 bln rupee for municipal debt mgmt for infra
    * Digital connect, solid waste mgmt part of urban renewal plan
    * Safe drinking water, sewage mgmt part of urban renewal plan
    * Committed to provide housing to all by 2022
    *

  • Budget 2014 Highlights: INFRASTRUCTURE/INDUSTRY

    * To revive old, closed oil, gas wells
    * 1 bln rupee for pilot work on ultramodern coal power plants
    * To ensure just allocation to states from mineral royalty
    * National Gas Grid needs 15,000-km more gas pipeline
    * To use PPP mode to add 15,000-km gas pipeline
    * Revision of royalty rate on minerals due soon
    * To review mining royalty for states
    * To expedite resolution of iron ore mining impasse
    * Existing impasse of coal sector

  • Budget 2014 Highlights: FARM SECTOR

    * Committed to give wheat, rice at reasonable price to poor
    * Have enough central pool grain stock to handle weak monsoon
    * Plan 1 bln rupees for Kisan TV on farming issues in FY15
    * Allot 50 bln rupees for NABARD long-term rural credit fund
    * Will conduct open mkt sale to control grain stocks
    * Allot 2 bln rupee for forming 2000 producers’ organisations
    * Extended 3% interest subvention for farmers in FY15
    * Rural infra corpus allocation raised

  • Budget 2014 Highlights: FINANCIAL SECTOR

    * Suitable incentives for increasing reach of insurance
    * RBI will create framework for licenses of small banks
    * Annual PPF deposit ceiling to be raised to 150,000 rupees
    * Framework for differential bks for small businesses, poor
    * To address low penetration of insurance
    * Will bridge regulatory gap for chit funds
    * Propose to revamp small savings scheme
    * To provide all households with banking facilities
    * There should be at least 2 bank accounts in each household
    * To take

  • Budget 2014 Highlights: GROWTH, INFLATION

    * Higher growth is a sine qua non
    * Still not out of the woods on inflation
    * Seen gradual moderation in WPI inflation recently
    * Bound to usher in a regime to boost growth
    * Two years of sub-5% growth created challenging situation
    * Today’s steps only start of a journey to sustained growth
    * Slowdown in India reflects trend in many economies
    * Seeing greenshoots of recovery globally
    * Euro area expected to witness growth
    * Look forward to lower inflation

  • Budget 2014 Highlights: GOVT SPENDING

    * To constitute expenditure mgmt panel
    * Time has come to revive efficiency of govt spend
    * Must reduce wasteful expenditure
    * Cannot spend beyond our needs
    * Can’t leave behind legacy of debt
    * Non-tax revenue must be increased