2014-15: Budget Highlights

NEW DELHI: The following are the highlights of the general budget for 2014-15 presented by Finance Minister Arun Jaitley in the Lok Sabha:

* IT exemption limit for those below 60 raised from 2 lakh to 2.5 lakh; from 2.5 lakh to 3 lakh for senior citizens

* Investment limit under Section 80C of the Income Tax Act raised to 1.5 lakh.

* Deduction limit on account of interest on loan in respect of self-occupied house property raised from 1.5 lakh to 2 lakh.

* No change in surcharge for corporates; education acess to continue

* Excise duty on cigarettes raised from 11 percent to 72 percent

* Allocation of 150 crore to improve safety of women in larger cities

* Allocation of 100 crore for "Beti bachao, beti padhao" (Protect the girl child, educate the girl child) programme

* Allocation of 500 to support Kashmiri Immigrants for rebuilding their lives

* Total sanitation in every household by 2019

* Colour TVs to cost less on reduced customs duties

* Free baggage allowance raised from 35,000 to 45,000

* Excise duty on footwear halved

* Total expenditure in 2014-15 estimated at 17,97,892 crore; plan expenditure estimated at 12,19,892 crore

* Budget will lay down steps aimed at 7-8 percent growth in next few years; aim is "Sub ke saath, sub ka vikas" (With everyone, For everyone's development)

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