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Highlights of Union Budget 2014-15 - Important Points - Summary

Here is the Highlights of UNION BUDGET 2014-2015 / Important points of Union budget 2014-15. These will help you in clearing the questions related to Indian Union Budget in upcoming SSC, IBPS, RBI, SBI etc. As you all know, some questions are definitely asked from current affairs and budget. So this list will give you an easy idea about our country budget.
Candidates who want to increase their chances of clearing the exam, should know all facts about the union budget. Here you will find some of the important facts / summary of Union budget 2014-15 which will be helpful for your competitive exam preparation.

Highlights of Union Budget 2014-15 - Important Points of Union Budget 2014-15 for SSC, IBPS, SBI, RBI etc. competitive exams.

1. Minimum pension of Rs.1000 per month.
2. Target to achieve 7-8 per cent economic growth rate in upcoming 3-4 years.
3. Skill India initiative to create more entrepreneurs and make youth employable.
4. A total of 15 Braille press to come up.
5. Assam and Jharkhand to get Centre of Excellence on farming.
6. Senior Citizens Pension Plan Extended Till August 2015
7. PSU Banks to Raise Rs 2.40 Lakh Cr Capital by 2018
8. 100 soil testing laboratories across the country.
9. Target Agriculture growth rate at 4 %
10. Defence FDI cap raised to 49% from 26% at present
11. Insurance FDI cap raised to 49% from 26% at present.
12. Revenue Deficit seen at 2.9% for FY15.
13. Annual PPF ceiling to be improved from Rs 1 lakh to Rs 1.5 lakh.
14. For hygiene and cleanliness, Bharat Swach Yojna is proposed.
15. e-visa for nine cities to promote tourism.
16. Crisis Management Centre for women at Delhi.
17. Currency note with Braille-like signs.


18. Income Tax exemption limit raised:
(a) from Rs. 2 lakh to Rs. 2.5 lakh for all.
(b) to Rs. 3 lakh per annum for senior citizens.

19. Fiscal deficit target: for current and upcoming years
- for 2014-2015 (Current fiscal year) - 4.1% of GDP
- 2015-16 - 3.6%
- 2016-17 - 3%

20. Tax-free cap on home loan interest from Rs. 1.5 to Rs. 2 lakh.

21. Budget Allocation: 
(1) Rs 50,548 cr - SC development
(2) Rs. 14,389 crores - PM Sadak Yojana
(3) Rs. 500 crore - price stabilization fund
(4) Rs. 7060 cr - creating Smart cities
(5) Rs 100 crore - to promote entrepreneurship among rural youth
(6) Rs 100 crores - set up virtual classrooms.

(7) Rs 500 crores  - setting up 5 more IIM, 5 IIT and 4 AIIMS institutes - Question on this has been asked several times in IBPS RRB and RBI Assistant exam.

(8) Rs. 200 crore - for making Statue of Unity (Sardar Patel statue) in Gujarat
(9) Rs. 1000 cr - Budget Allocate for irrigation plan named Pradhan Mantri  Krishi Sichayin Yojana
(10) Rs 200 crores - credit scheme for start-ups by those from scheduled castes and tribes
(11) Rs 200 crore - set up six textiles cluster
(12) Rs. 100 crores - modernization of Madrasas
(13) Rs 8000 crore - Budget Allocate for (Rural housing) national housing banking programme
(14) Rs 3600 cr - National Rural Drinking Water
(15) Rs. 100 cr - Metro rails in PPP mode; for metro scheme in Ahmadabad and Lucknow.
(16) Rs. 200 cr for Horticulture University in Haryana, Telangana and Agriculture University in AP and Rajasthan
(17) Women Safety:
i. 100 crores - Beti Bachao, Beti Padhao Yojana
ii Rs. 50 crores - Pilot scheme on road safety
iii. 150 crores - On safety on women in larger cities by MHA.