Union Budget 2014

Updated : Jun 25, 2014

Interim Budget 2014: India's road network jumped over 7-fold in 10 years, says FM

Pitching for higher allocation for the infrastructure sectors, the finance minister said, there should be more funds for defence, railways, national highways and telecom.

Finance Minister P. Chidambaram <em>Photo: Reuters</em>

Updated : Feb 26, 2014

P Chidambaram is leaving behind a difficult task for next FM

Finance Minister P. Chidambaram's swan song will haunt his successor. As he highlighted his achievements in controlling the fiscal and current-account deficits during the vote-on-account, he also outlined a rather optimistic vision for 2014/15.

(Picture for representation only) <em>Photo: Reuters</em>

Updated : Feb 19, 2014

Interim Budget 2014: Auto giants welcome FM's decision to reduce excise duty

Auto makers, including General Motors India and Tata Motors, announced price cuts of their products soon after Finance Minister P. Chidambaram decided to reduce excise on automobiles in the interim budget 2014-15.

Updated : Feb 19, 2014

Interim Budget 2014: Chidambaram woos education loan borrowers

Presenting the Interim Budget for 2014-15 in the Lok Sabha on Monday, Chidambaram announced a moratorium period for all education loans taken up to March 31, 2009, and outstandings as of March 31, 2013.

Finance Minister P Chidambaram <em>Photo: AP</em>

Updated : Feb 19, 2014

Interim Budget 2014-15: Key highlights from P Chidambaram's speech

Amid constant interruptions by some members, Finance Minister P. Chidambaram presented the interim budget for 2014-15 in the Lok Sabha.

Finance Minister P Chidambaram. Photo : AP

Updated : Feb 19, 2014

Interim Budget: Here's where Chidambaram saved in 2013-14

Amid  the reams of Budget data lies a seemingly innocuous number, Rs 56,574 crore. It is under the head of non-plan expenditure. This is the amount that was kept aside as investment in International financial institutions for this fiscal year.

Updated : Feb 18, 2014

No Class 8 school boys debate with Modi, says Chidambaram

Chidambaram was asked about Modi's reaction to his Interim Budget on Monday calling it "a final act of misery after a decade of decay."

Updated : Feb 18, 2014

Interim Budget: FM hits out at critics, says govt has pulled back economy

Rejecting description of his interim Budget as populist, Finance minister P  Chidambaram said over the last couple of years, the government was trying to do a "rescue act" like every other government in the world was doing.

Finance Minister P Chidambaram <em>Photo: APp</em>

Updated : Feb 18, 2014

Vote on account 2014: Govt unveils restrained pre-election budget

Finance Minister P Chidambaram unveiled on Monday a restrained mini budget for the government's remaining months in office, saying the budget deficit has narrowed and pledging to keep public spending steady. WATCH: FM's full Interim Budget speech

Finance Minister P Chidambaram. Photo : Shekhar Ghosh

Updated : Feb 17, 2014

Chidambaram's poll Budget seeks to please all, with prudence

The finance minister could not change the tax regime vastly, as it required legislative approvals and is generally left for the next government in an election year. WATCH: Chidambaram presents Interim Budget for 2014-15. The direct tax rates were left unaltered. But that did not stop him from indulging in some self-acclamation for meeting key targets while highlighting achievements of his government.

Updated : Feb 17, 2014

Interim Budget: Generating 1 million jobs is a welcome move, say analysts

"Skills development is not only the key to tackling India's unemployment situation but will also help in raising the quality of life of our workforce through improved employment opportunities," says  Moorthy K. Uppaluri, CEO, Randstad India and Sri Lanka Uppaluri.

Updated : Feb 17, 2014

There are no winners in Chidambaram's 'hope' budget

UPA's last budget was more of a match-the-numbers exercise, away from economic realities and riding high on optimism. Though finance minister P Chidambaram has met his fiscal deficit and current account deficit targets, but the math seems forced and unsustainable. WATCH: Chidambaram presents Interim Budget for 2014-15

Updated : Feb 17, 2014

Interim Budget: Cars, two-wheelers, soaps set to become cheaper

As per Finance Minister P Chidambaram's proposal, excise duty on small cars, motorcycles, scooters and commercial vehicles has been cut to 8 per cent from 12 per cent earlier.

(Photo for representational purpose only. Souce: Reuters)

Updated : Feb 17, 2014

Govt hikes defence spending; makes one rank, one pension a reality

In his Interim Budget speech, Finance Minister P Chidambaram also pointed out that during the tenure of the UPA governments, changes in pension rules applicable to the defence services were made thrice in 2006, 2010 and 2013.

Updated : Feb 17, 2014

Interim Budget: Chidambaram hits back at Modi's 'hard work' comment

Taunting the Finance Minister P Chidambaram repeatedly at a rally in Chennai last week, Modi had said that India under Chidambaram and noted economist Prime Minister Manmohan Singh has registered high unemployment, fiscal debt and low growth.

Chidambaram proposed to provide initial capital of Rs 200 cr, which could be supplemented every year. <em>Photo: AP</em>

Updated : Feb 17, 2014

Interim Budget 2014: Venture capital fund for Scheduled Castes just a populist move

In the Interim budget for 2014/15, Finance Minister P. Chidambaram said that in order to promote entrepreneurship among scheduled castes, and to provide concessional finance to them, IFCI will set up a special venture capital fund for them.

Updated : Feb 17, 2014

Interim Budget 2014: Air India to get equity infusion of Rs 5,500 crore

Air India has been allocated Rs 5,500.10 crore as equity infusion during the year, with the total plan allocation for the Civil Aviation Ministry standing at Rs 5,720 crore and its non-plan expenditure estimated at Rs 657.98 crore.

Updated : Feb 17, 2014

Interim Budget 2014: Exchange rate has stabilised, says Chidambaram

"Among emerging economy currencies, rupee was affected the least when the actual reduction took place in December 2013 and January 2014, Finance Minister P Chidambaram said in the Budget speech in parliament.

Updated : Feb 17, 2014

Interim Budget: Excise duty cut unlikely to turn fortunes of commercial vehicle industry

Will the Interim Budget announcement help in turning around the sentiment and kick in demand for new trucks? This is unlikely, considering the sector has excess capacity to the tune of more than 40 per cent.

Finance Minister P Chidambaram outside Parliament on February 17, before presenting the Interim Budget. PHOTO: AP

Updated : Feb 17, 2014

Chidambaram's excise duty cut on durables, automobiles aimed at fiscal consolidation

In his Interim Budget speech, the finance minister announced a cut in excise duty on small cars and two-wheelers from 12 to 8 per cent, and on SUVs from 30 to 24 per cent. Excise duty on consumer durables has been reduced to 10 per cent from 12 per cent.

Updated : Feb 17, 2014

Govt seeks nod for Rs 46,227 cr additional spending

Of the net cash outgo, as much as Rs 10,041.72 crore will be towards petroleum subsidies to oil marketing companies for under-recoveries on account of selling petroleum products below cost, and project management expenditure.