2014 Interim Budget Highlights: The Good News And The Bad News
Bangalore: Finance Minister P Chidambaram presented the interim budget in parliament with an eye on the upcoming general election. The budget which is described by the economists as ‘reasonable’ and ‘aspirational’ comes with the usual recipes- fee waiver, tax cut and self acclamation. Listed below are the highlights of the budget.
The Good News
Deficit
-Deficit for the year 2013-2014 will be contained within 4.6 percent of GDP.
-At the end of the current financial year, $ 15billion is expected to be added to the foreign exchange reserve.
Inflation
-Core inflation has been brought down from 4.2 percent last year to 3.0 percent this year.
-Food inflation has been brought down from 13.6 percent last year to 6.2 percent this year.
Agriculture
-Food grain production has reached 255.36 million tonnes for the year 2012-13.
-Expected food grain production for the current year is 263 million tones.
-Agricultural export for the year 2012-13 is $41 billion.
-Expected agricultural export for the current year is $45billion.
Infrastructure
-Addition to power capacity in the year 2012-13—29,350 Mega Watt.
-Addition to the length of national highways in the year 2012-13—3928 km.
-Addition to the length of rural road in the year 2012-13—39,144km.
-Addition to the length of railway tracks in the year 2012-13—3,343km.
-Number of new airports under construction—7
Read More:
