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Jul 10, 2014

Key Features of Modi Govt's First Budget 2014-2015

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Government to promote FDI selectively in sectors.

‰ The composite cap of foreign investment to be raised to 49 per cent with full Indian

management and control through the FIPB route.

‰ The composite cap in the insurance sector to be increased up to 49 per cent from 26

per cent with full Indian management and control through the FIPB route.

‰ Requirement of the built up area and capital conditions for FDI to be reduced from

50,000 square metres to 20,000 square metres and from USD 10 million to USD 5

million respectively for development of smart cities.

‰ The manufacturing units to be allowed to sell its products through retail including E-

commerce platforms.

Bank Capitalization

‰ Requirement to infuse `.2,40,000 crore as equity by 2018 in our banks to be in line

with Basel-III norms

‰ Capital of banks to be raised by increasing the shareholding of the people in a phased

manner.

PSUs will invest through capital investment a total sum of ` 2,47,941 crores in the

current financial year.


A sum of ` 7060 crore is provided in the current fiscal for the project of developing

“one hundred Smart Cities’

Real Estate

‰ Incentives for Real Estate Investment Trusts (REITS). Complete pass through for the

purpose of taxation.

‰ A modified REITS type structure for infrastructure projects as the Infrastructure

Investment Trusts (INVITS).

‰ These two instruments to attract long term finance from foreign and domestic sources

including the NRIs .

‰ Government to print currency notes with Braille like signs for visibly challenged persons.

Women & Child Development

‰ Outlay of ` 50 crores for pilot testing a scheme on “Safety for Women on Public Road

Transport”.

‰ Sum of `150 crores on a scheme to increase the safety of women in large cities.

‰ “Crisis Management Centres” in all the districts of NCT of Delhi this year government

and private hospitals.

‰ A sum of `100 crore is provided for “Beti Bachao, Beti Padhao Yojana”, a focused

scheme to generate awareness and help in improving the efficiency of delivery of welfare

services meant for women.

‰ School curriculum to have a separate chapter on gender mainstreaming.

Drinking Water & Sanitation

‰ 20,000 habitations affected with arsenic, fluoride, heavy/ toxic elements, pesticides/

fertilizers to be provided safe drinking water through community water purification

plants in next 3 years

‰ “Swachh Bharat Abhiyan” to cover every household with sanitation facility by the year

2019.


‰ Free Drug Service and Free Diagnosis Service to achieve “ Health For All”

‰ Two National Institutes of Ageing to be set up at AIIMS, New Delhi and Madras

Medical College, Chennai.

‰ A national level research and referral Institute for higher dental studies to be set up.

‰ AIIMS like institutions in Andhra Pradesh, West Bengal, Vidarbha in Maharashtra and

Poorvanchal in UP. A provision of ` 500 crores made.

‰ 12 new government medical colleges to be set up.

‰ States’ Drug Regulatory and Food Regulatory Systems to be strengthened by creating

new drug testing laboratories and strengthening the 31 existing State laboratories.

‰ 15 Model Rural Health Research Centres to be set up for research on local health

issues concerning rural population.

‰ A national programme in Mission Mode to halt the deteriorating malnutrition situation

in India to be put in place within six months.

‰ ` 100 crore provided for setting up virtual classrooms as Communication Linked

Interface for Cultivating Knowledge (CLICK) and online courses.

Information and Broadcasting

‰ ` 100 crore allocated for 600 new and existing Community Radio Stations.

‰ Film & Television Institute, Pune and Satyajit Ray Film & Television Institute, Kolkata

are proposed to be accorded status of Institutes of national importance and a “National

Centre for Excellence in Animation, Gaming and Special Effects to be set up.

‰ ` 100 crore is provided for Kisan TV, to disseminate real time information to the

farmers on issues such as new farming techniques, water conservation, organic farming

etc.


‰ Mission on Low Cost Affordable Housing anchored in the National Housing Bank to

be set up.

‰ A sum of ` 4000 crores for NHB from the priority sector lending shortfall with a view

to increase the flow of cheaper credit for affordable housing to the urban poor/EWS/

LIG segment is provided

‰ Slum development to be included in the list of Corporate Social Responsibility (CSR)

activities to encourage the private sector to contribute more.

Minorities

‰ A programme for the up gradation of skills and training in ancestral arts for development

for the minorities “Up gradation of Traditional Skills in Arts, Resources and Goods” to

be launched.

‰ An additional amount of ` 100 crores for Modernization of Madarsas .

‰ An amount of ` 100 crores set aside for “Agri-tech Infrastructure Fund”.

‰ Technology driven second green revolution with focus on higher productivity and

including “Protein revolution” will be area of major focus.

‰ To mitigate the risk of Price volatility in the agriculture produce, a sum of ` 500 crore

is provided for establishing a “Price Stabilization Fund”.


‰ Central Government Departments and Ministries to integrate their services with the e-

Biz -a single window IT platform- for services on priority by 31 December this year.

‰ ` 100 crore provided for setting up a National Industrial Corridor Authority.

‰ Corpus of ` 200 crore to be set up to establish Technology Centre Network .

‰ Definition of MSME to be reviewed to provide for a higher capital ceiling.

An institution to provide support to mainstreaming PPPPs called 4PIndia to be set up

with a corpus of ` 500 crores.

Shipping

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Scheme for development of new airports in Tier I and Tier II Cities to be launched.

‰ Sector needs huge amount of investment along with debottlenecking from maze of

clearances.

‰ An investment of an amount of ` 37,880 crores in NHAI and State Roads is proposed

which includes ` 3000 crores for the North East.

‰ ` 500 crore provided for developing 5 tourist circuits around specific themes.

‰ ` 100 crore provided for National Mission on Pilgrimage Rejuvenation and Spiritual

 

Augmentation Drive (PRASAD).