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Exports, Tax proposals, Banking capital infusion, health and education expenditure - Interim budget 2014-15

Exports, Tax proposals, Banking capital infusion, health and education expenditure - Interim budget 2014-15


Exports

Merchandise exports seen at $326 billion in 2013-14, up 6.3% Year-on-Year

Agriculture exports expected to touch $45 billion in 2013-14, up from $41 billion in 2012-13


TAX Proposals

No major change in tax rates


Factory gate tax to be reduced to 10% from 12% on some capital goods and consumer durables


Cut excise duty on small cars, two wheelers, commercial vehicles to 8% from 12%


Excise duty reductions on larger vehicles cut from 30% to 24%


Excise duty on mobile handsets to be 6% on CENVAT credit to encourage domestic production


Banking

Government to provide Rs.112 billion capital infusion in state run banks in 2014-15


Propose to set up public debt management office to start work from 2014-15


Health and Education expenditure

The expenditure on Health and Family Welfare has reached Rs.36,322 crore from Rs.7,248 ten years ago


The expenditure on Education has reached Rs.79,451 crore from Rs.10,145 ten years ago

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