Following are the highlights of the Union Budget 2014-15 presented by Finance Minister Arun Jaitley in Parliament today:
* Income tax exemption limit raised by Rs 50,000 to Rs 2.5 lakh and for senior citizens to Rs 3 lakh
* Exemption limit for investment in financial instruments under 80C raised to Rs 1.5 lakh from Rs 1 lakh.
* Investment limit in PPF raised to Rs 1.5 lakh from Rs 1 lakh
* Deduction limit on interest on loan for self-occupied house raised to Rs 2 lakh from Rs 1.5 lakh.
* Committee to look into all fresh tax demands for indirect transfer of assets in wake of retrospective tax amendments of 2012
* Fiscal deficit target retained at 4.1 pc of GDP for current fiscal and 3.6 pc in FY 16
* Rs 150 crore allocated for increasing safety of women in large cities
* LCD, LED TV become cheaper
* Cigarettes, pan masala, tobacco, aerated drinks become costlier
* 5 IIMs to be opened in HP, Punjab, Bihar, Odisha and Rajasthan
* 5 more IITs in Jammu, Chattisgarh, Goa, Andhra Pradesh and Kerala.
* 4 more AIIMS like institutions to come up in AP, West Bengal, Vidarbha in Maharashtra and Poorvanchal in UP
* Govt proposes to launch Digital India' programme to ensure broad band connectivity at village level
* National Rural Internet and Technology Mission for services in villages and schools, training in IT skills proposed
* Rs 100 cr scheme to support about 600 new and existing Community Radio Stations
* Rs 100 cr for metro projects in Lucknow and Ahmedabad
* Govt expects Rs 9.77 lakh crore revenue crore from taxes
* Govt's plan expenditure pegged at Rs 5.75 lakh crore and non-plan at Rs 12.19 lakh crore.
* Rs 2,037 crore set aside for Integrated Ganga Conservation Mission called 'Namami Gange'.
* Kisan Vikas Patra to be reintroduced, National Savings Certificate with insurance cover to be launched
* FDI limit to be hiked at 49 pc in defence, insurance
* Disinvestment target fixed at Rs 58,425 crore
* Gross borrowings pegged at Rs 6 lakh crore
* Contours of GST to be finalised this fiscal; Govt to look into DTC proposal.
* 'Pandit Madan Mohan Malviya New Teachers Training Programme' launched with initial sum of Rs 500 crore
* Govt provides Rs 500 crore for rehabilitation of displaced Kashmiri migrants
* Set aside Rs 11,200 crore for PSU banks capitalisation
* Govt in favour of consolidation of PSU