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Union Budget 2014: Banking facilities for all households

Thursday, 10 July 2014

New Delhi: Some of the highlights of the budget proposals made by Finance Minister Arun Jaitley today in the Parliament.

War memorial to be set up along with a war museum; Rs.100 cr set aside fro this: FM.

Rs.100 cr set aside for development of Technology Development Fund scheme for education of girl child to be launched soon: FM.

 Will take measures to revitalise small savings schemes: FM.

Pending Insurance Amendment Bill to be taken up in the Parliament: FM.

Govt will work out measures for revival of other stressed assets: FM.

RBI will create framework for licenses of small banks: FM.

Bank will be encouraged to give long term funds and loans to the infrastructure sector: Jaitley.

Benefits of insurance have not reached larger section of people; govt will addres this in multi-pronged manner with stakeholders: FM.

To provide all households with banking facilities to empower the weaker sections; there should be at least 2 bank accounts in each household: FM.

Urgent need to converge current Indian standard with international accounting standards: FM.

FM proposes number of measures to energise Indian capital market.

Essential to strengthen and modernise regulatory framework in financial sector to meet challenges of increasing complex economy: FM.

Financial sector is at the heart of the growth engine: FM.

Revision of rate of royalty on minerals to be taken up on request from the states: Jaitley.

In order to complete gas grid, 15000 km of additional pipeline to be developed through PPP mode: FM.

Existing impasse of coal sector will be resolved: Jaitley.

Rs.4200 cr set aside for the Jal Marg Vikas project on river Ganga connecting Allahabad to Haldia,over 1620 km: Arun Jaitley.

New airports to be developed through PPP mode: FM.

FM announces development of Hastkala Academy in PPP mode: Jaitley.

Rs.50 cr set aside for pashmina production programme in Jammu and Kashmir: Jaitley.

There is need to develop more sophisticated models with quick redressal mechanism in PPP contracts: FM.

India has emerged as the largest PPP market in the world: FM.

FM announces Rs.200 cr for 6 more textile clusters in Rae Bareily, Lucknow, Surat, Bhagalpur: FM.

Definition of MSME to be revised for high capital ceiling: FM.

MSMEs are the backbone of the economy; to be revived through a committee to examine and report in three months: FM.

Effective steps to be taken to revive SEZs: FM.

Apprentice Act to be suitably amended to strengthen the Apprentice Training Scheme: FM.

To set up Industrial Smart Cities in 7 cities: Jaitley.

All govt departments and ministries to be integrated through E-platform by 31 Dec this year: Jaitley.

Rs.100 cr set aside for Kisan Television to provide real time information on various farming and agriculture issues:

FM allocates Rs.200 cr for setting up 2000 producers' organisations across the country.

FM allocates funds for setting up 2,000 producers' organisations across the country.

 Rs.5000 cr short time rural credit refinance fund for 2014-15: Jaitley.

 Additional Rs.5000 cr set aside for RIDF: Jaitley.

 Rs.50 cr set aside for indigenous cattle breed and blue revolution for inland fisheries: FM.

State governments to be encouraged to develop farming markets: FM.

 Propose to provide finance to 5 lakh landless farmers through NABARD: FM.

National Adaption Fund for climate change to be set up: Jaitley.

Govt will initiate scheme to provide a soil health card; Rs.100 cr set aside. Rs.56 cr for soil testing labs across the country: FM.

Five minute break announced in presentation of Budget.

Agriculture University in Andhra and Rajasthan, and Horticulture University in Haryana, Telangana; Rs.200 cr set aside.

Slum development to be included in Corporate Social Responsibility activities.

FM announces Rs.100 cr for modernisation of madrasas.

 FM announces development of Metro rails in PPP mode; Rs.100 cr set aside for metro scheme in Ahmedabad and Lucknow.

 Mission for low cost housing proposed to incentivise development of low cost housing; Rs.400 cr announced.

 Urban renewal will address drinking water, use of recycled water,solid waste management, digital connectivity; 500 habitats supported: FM.

Rs.100 cr set aside for Community Radio Centres; 600 new and existing ones will be supported: Jaitley.

FM proposes National Rural Internet and Technology Mission; Rs.500 crores set aside.


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