BUDGET 2014 : First Budget of Narendra modi's government.

Finance Minister Arun Jaitley presented the first budget  of NDA Government. Here are the highlights of this year's budget :

1. Two years of sub- five per cent growth has led to the challenges of the economy.

2.Green shoots of recovery seen in the global economy.

3. Slow decision making has resulted in loss of opportunity.

4. We look forward lower level of inflation .

5. Aim to achieve 7 per cent economic growth in next 3 - 4 years.

6. " Will leave no stone unturned to create a vibrant India "

7. Budget Proposes plan expenditure of Rs. 5,75,000 crore for current fiscal.

8. Anti poverty programmes will be targeted.

9. We need to revive growth particularly in manufacturing sector and infrastructure.

10. There is urgent need to generate more resource.

11. We must continue to be watchful of CAD

12. Target of 4.1 per cent fiscal deficit is daunting but accepting it as a challenge.

13. Finance Minister emphases on fiscal prudence ,  need to generate more resources.

13. Iraq crisis having impact on oil prices.

15. We must address the problem on black money fully.

16. We must take bold steps to enhance economic activity .

17. Expenditure reforms are to be viewed .

18. We are minimum government, maximum governance.

19. overall subsidy regime will reviewed. Marginalised sections and SC/ST to be protected.

20. New urea policy will be formulated.

21. This government will not ordinarily change the policies retrospectively which creates a fresh liability.

22. All the future indirect transfers under the retro tax regime will be scrutinised bya high level committee of CBDT before action is taken.

23. We are committed to provide stable tax regime which is investor friendly.

24. FDI in defence sector raised to 49 per cent.

25. Finance minister Arun Jaitley takes a 5 minute break ; Lok Sabha adjourned for 5 minutes.