Right to Information
The reason why Pune’s Information Commissioner is sitting on an 'illegal' seat
While Information Commissioner Ravindra Jadhav entrenches himself as Pune division’s IC, it is important to understand why appointments in Maharashtra are different from any other state in India

Information Commissioner (IC) Ravindra Jadhav holds the Pune division post as of Monday. The board with his name etched on it and Right to Information (RTI) applicants,  who come for hearings of their second appeals, is a picture of normalcy. However, the undercurrent of autocracy that lies in the way this seat was gifted to Jadhav speaks of a danger to the sanctity of appointments of Information Commissioners, if one goes by the rules implemented for Maharashtra. 
So, what is wrong if Ratnakar Gaikwad transfers Ravindra Jadhav from one commission to another? Let us examine.
Unlike any other state in India, wherein the State Information Commission and entire strength of ICs is concentrated only at one particular city, that is the capital of the relevant State, Maharashtra’s formula is completely different.
When the RTI Act was implemented in 2005, Maharashtra Government decided upon setting up Information Commissions at different regions as a gesture of citizen convenience. Meaning, if you are a Nagpur resident and have filed a second appeal, you do not have to travel the distance to Mumbai, but you have the privilege of having an IC in Nagpur itself, which will conduct the hearing. 
Maharashtra has seven benches of Information Commissions located in Pune, Greater Mumbai, Konkan, Amravati, Nashik, Aurangabad and Nagpur, and the State Chief Information Commission, which is in Mumbai. Thus, appointments of ICs in Maharashtra are not general in nature. They are region-specific and bench specific. In case a transfer has to be made, the entire process of recommendation by the High Powered Committee (HPC) and a signature by the appointing authority, the Governor, is mandatory.
Therefore, despite Section 14 stating "The general superintendence, direction and management of the affairs of the State Information Commission shall vest in the State Chief Information Commissioner who shall be assisted by the State Information Commissioners and may exercise all such powers and do all such acts and things which may be exercised or done by the State Information Commission autonomously without being subjected to directions by any other authority under this Act’’, in Maharashtra the SCIC cannot trample or encroach on the Governor’s authority to appoint an information commissioner.
To reiterate, as per the norms, the Governor is the only authority to appoint Information Commissioners after a High Powered Committee (HPC) comprising the Chief Minister, the Leader of Opposition in the Legislative Assembly and Deputy Chief Minister recommends a name for the post. This clearly means, that the Chief State Information Commissioner (SCIC) of Maharashtra cannot be the authority to transfer an IC from one region to another, as per his whims and fancies. In fact, in a letter to the state government dated 28 November 2013, SCIC Gaiwad had brought to its notice, that vacancies of Information Commissioners in Amravati, Nagpur, Brihan Mumbai and Konkan need to be filled, which means he has been abiding by the rules that are exclusive to Maharashtra. So, why did he flout them in the case of Jadhav? And at whose behest?
In a trail mail started by RTI activist Sarbhajit Sen who feels the issue is being blown out of proportion, Lt Gen SCN Jatar (retd), a noted RTI activist has written, “Nowhere could I spot even by remote inference that someone down the line can change the place of posting once the appointing authority has specifically mentioned it in the appointment letter. Else, the letter would have read differently without giving the place of posting of the IC as is done in the Services. Promotion or first appointment and postings are never mixed up in good business rules.”
“In the industry as well as in government, the authority that can appoint and those that can issue postings are not always the same. By no stretch of imagination can the provision 'the general superintendence, direction and management of the affairs of the State Information Commission shall vest in the State Chief Information Commissioner'  mean that the CIC is empowered to move around ICs at his whim and fancy. In fact, postings of senior officers are always at a higher level than the immediate boss. Else, there would have been a separate clause to that effect or a word saying that 'the officer is being posted initially at so and so place and further postings would be at the discretion of the CIC in public interest',” he said.
RTI activist Vijay Kumbhar, who has vociferously raised this issue says, “The SCIC Ratnakar Gaikwad, while transferring three ICs last year had defied even the legal  opinion of Advocate General (AG) that 'A State Information Commissioner cannot be transferred unless he resigns from his present posting'.’ Jadhav has not resigned – he has been simply transferred.”
In a letter to the Governor last year, Kumbhar had stated, “This was revealed after an official copy of AG's report in a similar case few years back was obtained. AG's report about the transfer clearly states that even if the high power committee (comprising Chief Minister, Deputy Chief Minister & Leader of Opposition in Vidhansabha) decides to recommend to the Governor transfer on new posting for an SIC, his resignation from his present posting is essential. Even when this report is in the records of the General Administration Department and State Information Commission, CIC Gaikwad ordered transfers of SIC, MH Shah from Nasik to Pune, Bhaskar Patil from Amravati to Nagpur and PW Patil from Nagpur to Nasik in June 2012 within a week after taking over as CIC.”
Since there is no power vested in state CIC for such transfers in RTI Act 2005, Vijay Kumbhar had written to the Governor to revoke these illegal transfers. 
“The legal opinion in this report has confirmed his contention that transfers of SIC's by SCIC Gaikwad were illegal. As per the report in 2007-08, the SIC Nagpur Vilas Patil had requested to the High Power Committee for his transfers to Nasik. The Committee under the chairmanship of Chief Minister accepted his request and sent recommendation of his transfer to the Governor. However the Governor's office observed that there was no provision of SIC's transfers in RTI Act, 2005 and ordered for the opinion of law and judiciary department and the AG.” 
In his report submitted to the Government on 14 February 2008 the AG states, 'Minutes of the high power committee clearly indicate a specific recommendation of commissioner for a specific reason. Committee can change the decision provided he (Vilas Patil) resigns from his present post. His appointment would be a fresh appointment requiring his resignation from his post at Nagpur. Neither an amendment nor a partial notification of the extant notification would serve the purpose.” 
Following this complication Patil withdrew his request for transfer. 
As per the minutes of the HPC, each of these three SIC's had been recommended for a specific region by the committee and the appointment letters signed by the Chief Secretary also indicate their postings. It is clear that even the HPC cannot transfer an SIC, then how can state CIC order and execute such transfers? The State CIC has clearly defied all authorities and procedures.
Let us for a minute say these legal technicalities are irrelevant. Then why not get them out of the way through an official process? Until such time, no one can be above law, and therefore, it will continue to be an issue.
(Vinita Deshmukh is consulting editor of Moneylife, an RTI activist and convener of the Pune Metro Jagruti Abhiyaan. She is the recipient of prestigious awards like the Statesman Award for Rural Reporting which she won twice in 1998 and 2005 and the Chameli Devi Jain award for outstanding media person for her investigation series on Dow Chemicals. She co-authored the book “To The Last Bullet - The Inspiring Story of A Braveheart - Ashok Kamte” with Vinita Kamte and is the author of “The Mighty Fall”.) 


Sensex, Nifty loses on disappointing budget – Thursday closing report
Nifty to move sideways

Yesterday we had said that the market would continue to remain under pressure. Today, following extreme intraday volatility, the indices finally ended in the negative. The market was trading flat until the start of the much awaited budget session. After the finance minister started his budget speech, the indices slumped and traded in the negative almost till the end of the speech. Post the budget, the benchmark zoomed up. From the low of the day till the high, Nifty was up by 252 points and Sensex was up by almost 800 points. However, in the last half hour, few minutes the index crashed and the entire gains were wiped off. 
Sensex opened at 25,514 while the Nifty opened at 7,590. Sensex moved to the level of 25,920 after hitting a low of 25,117 and closed at 25,373 (down 72 points or 0.28%). The Nifty hit a low of 7,479 after which it reached upto the level of 7,731 and closed at 7,568 (down 17 points or 0.23%). The NSE recorded a volume of 158.11 crore shares. India VIX fell 12.22% to close at 15.9650.
One of the mentions in the budget speech was to provide tax incentives for Real Estate Investment Trusts and hiking the deduction limit on interest on housing loan in respect of self occupied house property from Rs 1.5 lakh to Rs 2 lakh. DLF (9.22%), one such player in the sector, was the top gainer in the ‘A’ group on the BSE. Bharat Electronics (6.10%) was again the top loser today in the ‘A’ group on the BSE. US company Alcoa Inc reported better-than-expected earnings and has also increased its 2014 growth estimate for the North America commercial transportation market. Hindalco unit Novelis Inc directly competes with Alcoa in the North American markets. Hindalco (3.16%) was the top gainer in the Sensex 30 pack. Hero MotoCorp (3.99%) was the top loser in the Sensex 30 stock.
US indices closed in the green on Wednesday. Except for Shanghai Composite (0.01%), Nikkei 225 (0.56%) and Straits Times (0.18%) all the other Asian indices closed in the positive. Jakarta Composite (1.46%) was the top gainer. European indices were trading sharply lower on account of troubles in Portuguese banking system. The US Futures were trading deeply in red, following the release of meetings Fed’s minutes that. Federal Reserve officials said that monetary policy needed to continue to promote the favorable financial conditions required to support the economic expansion, according to the minutes of the June 17-18 Federal Open Market Committee meeting released on Wednesday.


BUDGET 2014: What is in it for you?

Jaitley's direct tax proposals are bound to bring some relief to millions of salaried employees who will gain from an increase in the income tax exemption limits to Rs2.5 lakh, while the limit under Section 80C has also been increased to Rs1.5 lakh

Finance Minister Arun Jaitley, while presenting his maiden budget said, decisive vote for change represents the desire of the people to grow, free themselves from the curse of poverty and use the opportunity provided by society. Country is in no mood to suffer unemployment, inadequate basic amenities, lack of infrastructure and apathetic governance, he added.


Jaitley said, “The situation is challenging, due to sub 5% growth and double digit inflation. Continued slow-down in many emerging economies is a threat to sustained global recovery. A recovery was visible with the growth rate of world economy projected at 3.6 per cent in 2014 vis-à-vis in 2013.”


“First budget of this NDA government to lay down broad policy indicators of the direction in which we wish to take this country. Steps announced are only the beginning of the journey towards a sustained growth of 7-8% or above within the next 3-4 years, along with macro-economic stabilization. Growing aspirations of people will be reflected in the development strategy of the Government led by the prime minister Narendra Modi and its mandate of 'Sab ka Saath Sab ka Vikas',” the Finance Minister added.


Deficit and Inflation

Decline in fiscal deficit from 5.7% in 2011-12 to 4.5% in 2013-14 was mainly achieved by reduction in expenditure rather than by way of realization of higher revenue. Improvement in current account deficit from 4.7% in 2012-13 to year end level of 1.7% was mainly achieved through restriction on non-essential imports and a slow-down in overall aggregate demand. He stressed the need to keep a watch on CAD.

A 4.1% fiscal deficit is a daunting task in the backdrop of two years of low GDP growth, static industrial growth, moderate increase in indirect taxes, subsidy burden and not so encouraging tax buoyancy.


Here is what the finance minister has given for you:




Direct Tax Proposals

  • Personal Income-tax exemption limit raised by Rs50,000, that is, from Rs2 lakh to Rs2.5 lakh in the case of individual taxpayers, below the age of 60 years. Exemption limit raised from Rs2.5 lakh to Rs3 lakh in the case of senior citizens

  • No change in the rate of surcharge either for the corporates or the individuals, HUFs, firms etc

  • The education cess to continue at 3%

  • Investment limit under section 80C of the Income-tax Act raised from Rs1 lakh to Rs1.5 lakh

  • Deduction limit on account of interest on loan in respect of self occupied house property raised from Rs1.5 lakh to Rs2 lakh

  • Conducive tax regime to Infrastructure Investment Trusts and Real Estate Investment Trusts (REIT) to be set up in accordance with regulations of the Securities and Exchange Board of India (SEBI)

  • Investment allowance at the rate of 15% to a manufacturing company that invests more than Rs25 crore in any year in new plant and machinery. The benefit to be available for three years i.e. for investments up to 31.03.2017

  • Investment linked deduction extended to two new sectors, namely, slurry pipelines for the transportation of iron ore, and semi-conductor wafer fabrication manufacturing units

  • 10 year tax holiday extended to the undertakings which begin generation, distribution and transmission of power by 31.03.2017

  • Income arising to foreign portfolio investors from transaction in securities to be treated as capital gains

  • Concessional rate of 15% on foreign dividends without any sunset date to be continued

  • The eligible date of borrowing in foreign currency extended from 30.06.2015 to 30.06.2017 for a concessional tax rate of 5% on interest payments. Tax incentive extended to all types of bonds instead of only infrastructure bonds

  • Introduction of a “Roll Back” provision in the Advanced Pricing Agreement (APA) scheme so that an APA entered into for future transactions is also applicable to international transactions undertaken in previous four years in specified circumstances

  • Introduction of range concept for determination of arm’s length price in transfer pricing regulations

  • To allow use of multiple year data for comparability analysis under transfer pricing regulations

  • To remove tax arbitrage, rate of tax on long term capital gains increased from 10% to 20% on transfer of units of Mutual Funds, other than equity oriented funds

  • Income and dividend distribution tax to be levied on gross amount instead of amount paid net of taxes

  • In case of non deduction of tax on payments, 30% of such payments will be disallowed instead of 100%

  • Government to review the DTC in its present shape and take a view in the whole matter

  • 60 more Ayakar Seva Kendras to be opened during the current financial year to promote excellence in service delivery

  • Net Effect of the direct tax proposals to result in revenue loss of Rs22,200 crore


Indirect Tax Proposals

  • To boost domestic manufacture and to address the issue of inverted duties, basic customs duty (BCD) reduced on certain items

  • To encourage new investment and capacity addition in the chemicals and petrochemicals sector, basic customs duty reduced on certain items

  • Steps taken to boost domestic production of electronic items and reduce our dependence on imports. These include imposition of basic customs duty on certain items falling outside the purview of IT Agreement, exemption from SAD on inputs/ components for PC manufacturing, imposition of education cess on imported electronic products for parity etc

  • Colour picture tubes exempted from basic customs duty to make cathode ray TVs cheaper and more affordable to weaker sections

  • To encourage production of LCD and LED TVs below 19 inches in India, basic customs duty on LCD and LED TV panels of below 19 inches reduced from 10% to NIL

  • To give an impetus to the stainless steel industry, increase in basic customs duty on imported flat-rolled products of stainless steel from 5% to 7.5%

  • Concessional basic customs duty of 5 percent extended to machinery and equipment required for setting up of a project for solar energy production

  • Specified inputs for use in the manufacture of EVA sheets and back sheets and flat copper wire for the manufacture of PV ribbons exempted from basic customs duty

  • Reduction in basic customs duty from 10 percent to 5 percent on forged steel rings used in the manufacture of bearings of wind operated electricity generators

  • Exemption from SAD of 4% on parts and raw materials required for the manufacture of wind operated generators

  • Concessional basic customs duty of 5 percent on machinery and equipment required for setting up of compressed biogas plants (Bio-CNG)

  • Anthracite coal, bituminous coal, coking coal, steam coal and other coal to attract 2.5% basic customs duty and 2% CVD to eliminate all assessment disputes and transaction costs associated with testing of various parameters of coal

  • Basic customs duty on metallurgical coke increased from Nil to 2.5% in line with the duty on coking coal

  • Duty on ship breaking scrap and melting scrap of iron or steel rationalized by reducing the basic customs duty on ships imported for breaking up from 5% to 2.5%

  • To prevent mis-use and avoid assessment disputes, basic customs duty on semi-processed, half cut or broken diamonds, cut and polished diamonds and coloured gemstones rationalized at 2.5%

  • To encourage exports, pre-forms of precious and semi-precious stones exempted from basic customs duty

  • Duty free entitlement for import of trimmings, embellishments and other specified items increased from 3% to 5% of the value of their export, for readymade garments

  • Export duty on bauxite increased from 10% to 20%

  • For passenger facilitation, free baggage allowance increased from Rs35,000 to Rs45,000

  • To incentivize expansion of processing capacity, reduction in excise duty on specified food processing and packaging machinery from 10% to 6%

  • Reduction in the excise duty from 12% to 6% on footwear of retail price exceeding Rs500 per pair but not exceeding Rs1,000 per pair

  • Withdraw concessional excise duty (2% without Cenvat benefit and 6% with Cenvat benefit) on smart cards and a uniform excise duty at 12%

  • To develop renewable energy, various items exempted from excise duty

  • Exemption to PSF and PFY manufactured from plastic waste and scrap including PET bottles from excise duty with effect from 29 June 2010 to 7 May 2012

  • Prospective levy of a nominal duty of 2 percent without Cenvat benefit and 6% with Cenvat benefit on such PSF and PFY

  • Concessional excise duty of 2 percent without Cenvat benefit and 6% with Cenvat benefit on sports gloves

  • Specific rates of excise duty increased on cigrettes in the range of 11 per cent to 72 per cent

  • Excise duty increased from 12 percent to 16 percent on pan masala, from 50 percent to 55 percent on unmanufactured tobacco and from 60 percent to 70 percent on gutkha and chewing tobacco

  • Levy of an additional duty of excise at 5 percent on aerated waters containing added sugar

  • To finance Clean Environment initiatives, Clean Energy Cess increased from Rs50 per tonne to Rs100 per tonne


Service tax

  • To broaden the tax base in Service Tax, sale of space or time for advertisements in broadcast media, extended to cover such sales on other segments like online and mobile advertising. Sale of space for advertisements in print media however would remain excluded from service tax. Service provided by radio-taxis brought under service tax

  • Services by air-conditioned contract carriages and technical testing of newly developed drugs on human participants brought under service tax

  • Provision of services rules to be amended and tax incidence to be reduced on transport of goods through coastal vessels to promote Indian Shipping industry

  • Services provided by Indian tour operators to foreign tourists in relation to a tour wholly conducted outside India to be taken out of the tax net and Cenvat credit for services of rent-a-cab and tour operators to be allowed to promote tourism

  • Service tax exempted on loading, unloading, storage, warehousing and transportation of cotton, whether ginned or baled

  • Services provided by the Employees’ State Insurance Corporation for the period prior to 1 July 2012 exempted, from service tax

  • Exemption available for specified micro insurance schemes expanded to cover all life micro-insurance schemes where the sum assured does not exceed Rs50,000 per life insured

  • For safe disposal of medical and clinical wastes, services provided by common bio-medical waste treatment facilities exempted

  • Tax proposals on the indirect taxes side are estimated to yield Rs7,525 crore

  • 24X7 customs clearance facility extended to 13 more airports in respect of all export goods and to 14 more sea ports in respect of specified import and export goods to facilitate cargo clearance

  • ‘Indian Customs Single Window Project’ to facilitate trade, to be implemented

  • The scheme of Advance Ruling in indirect taxes to be expanded to cover resident private limited companies. The scope of Settlement Commission to be enlarged to facilitate quick dispute resolution

  • Customs and Central Excise Acts to be amended to expedite the process of disposal of appeals


Foreign Direct Investment (FDI)

  • Government to promote FDI selectively in sectors

  • The composite cap of foreign investment to be raised to 49% with full Indian management and control through the FIPB route

  • The composite cap in the insurance sector to be increased up to 49% from 26% with full Indian management and control through the FIPB route

  • Requirement of the built up area and capital conditions for FDI to be reduced from 50,000 square metres to 20,000 square metres and from $10 million to $5 million respectively for development of smart cities

  • The manufacturing units to be allowed to sell its products through retail including E-commerce platforms


Bank Capitalization

  • Requirement to infuse Rs2.40 lakh crore as equity by 2018 in our banks to be in line with Basel-III norms

  • Capital of banks to be raised by increasing the shareholding of the people in a phased manner


PSU Capital Expenditure

PSUs will invest through capital investment a total sum of Rs2.48 lakh crore in the current financial year


Smart Cities

A sum of Rs7,060 crore is provided in the current fiscal for the project of developing “one hundred Smart Cities’


Real Estate

  • Incentives for Real Estate Investment Trusts (REITS). Complete pass through for the purpose of taxation

  • A modified REITS type structure for infrastructure projects as the Infrastructure Investment Trusts (INVITS).

  • These two instruments to attract long term finance from foreign and domestic sources

  • including the NRIs



Rs1,000 crore provided for “Pradhan Mantri Krishi Sinchayee Yojna” for assured irrigation


Rural Development

  • Shyama Prasad Mukherji Rurban Mission for integrated project based infrastructure in the rural areas

  • Rs500 crore for “Deen Dayal Upadhyaya Gram Jyoti Yojana” for feeder separation to augment power supply to the rural areas

  • Rs14,389 crore provided for Pradhan Mantri Gram Sadak Yojna(PMGSY)

  • More productive, asset creating and with linkages to agriculture and allied activities wage employment would to be provided under MGNREGA.

  • Under Ajeevika, the provision of bank loan for women SHGs at 4% to be extended to another 100 districts

  • Initial sum of Rs100 crore for “Start Up Village Entrepreneurship Programme” for encouraging rural youth to take up local entrepreneurship programs

  • Allocation for National Housing Bank increased to Rs8,000 crore to support Rural housing

  • New programme “Neeranchal” to give impetus to watershed development in the country with an initial outlay of Rs2,142 crore

  • Backward Region Grant Fund (BRGF) to be restructured to address intra-district inequalities


Scheduled Caste/Scheduled Tribe

  • An amount of Rs50,548 crore is proposed under the SC Plan and Rs32,387 crore under TSP

  • For the welfare of the tribals “Van Bandhu Kalyan Yojna” launched with an initial allocation of Rs100 crore


Senior Citizen & Differently Abled Persons

  • • Varishtha Pension Bima Yojana (VPBY) to be revived for a limited period from 15 August 2014 to 14 August 2015 for the benefit of citizens aged 60 years and above

  • • A committee will to examine and recommend how unclaimed amounts with PPF, Post Office, saving schemes etc. can be used to protect and further financial interests of the senior citizens

  • Government notified a minimum pension of Rs1,000 per month to all subscriber members of EP Scheme. Initial provision of Rs250 crore

  • Increase in mandatory wage ceiling of subscription to Rs15,000. A provision of Rs250 crore in the current budget

  • EPFO to launch the “Uniform Account Number” Service for contributing members

  • • Scheme for Assistance to Disabled Persons for purchase/ fitting of Aids and Appliances (ADIP) extended to include contemporary aids and assistive devices

  • National level institutes for Universal Inclusive Design , Mental Health Rehabilitation and a Centre for Disability Sports to be established

  • • Assistance to State Governments to establish fifteen new Braille Presses and modernize ten existing Braille Presses

  • • Government to print currency notes with Braille like signs for visibly challenged persons


Women & Child Development

  • • Outlay of Rs50 crore for pilot testing a scheme on “Safety for Women on Public Road Transport”

  • • Sum of Rs150 crore on a scheme to increase the safety of women in large cities

  • “Crisis Management Centres” in all the districts of NCT of Delhi this year government and private hospitals

  • • A sum of Rs100 crore is provided for “Beti Bachao, Beti Padhao Yojana”, a focused scheme to generate awareness and help in improving the efficiency of delivery of welfare services meant for women

  • • School curriculum to have a separate chapter on gender mainstreaming


Drinking Water & Sanitation

  • • 20,000 habitations affected with arsenic, fluoride, heavy/ toxic elements, pesticides/ fertilizers to be provided safe drinking water through community water purification plants in next 3 years

  • • “Swachh Bharat Abhiyan” to cover every household with sanitation facility by the year 2019


Health and Family Welfare

  • • Free Drug Service and Free Diagnosis Service to achieve “ Health For All”

  • • Two National Institutes of Ageing to be set up at AIIMS, New Delhi and Madras Medical College, Chennai

  • • A national level research and referral Institute for higher dental studies to be set up

  • AIIMS like institutions in Andhra Pradesh, West Bengal, Vidarbha in Maharashtra and Poorvanchal in UP. A provision of Rs500 crore made

  • 12 new government medical colleges to be set up

  • • States’ Drug Regulatory and Food Regulatory Systems to be strengthened by creating new drug testing laboratories and strengthening the 31 existing State laboratories

  • 15 Model Rural Health Research Centres to be set up for research on local health issues concerning rural population

  • • A national programme in Mission Mode to halt the deteriorating malnutrition situation in India to be put in place within six months




School Education

  • • Government would strive to provide toilets and drinking water in all the girls school in first phase An amount of Rs28,635 crore is being funded for Sarv Shiksha Abhiyan (SSA) and Rs4,966 crore for Rashtriya Madhyamic Shiksha Abhiyan (RMSA)

  • • A School Assessment Programme is being initiated at a cost of Rs30 crore

  • Rs500 crore provided for “Pandit Madan Mohan Malviya New Teachers Training Programme” to infuse new training tools and motivate teachers

  • • Rs100 crore provided for setting up virtual classrooms as Communication Linked Interface for Cultivating Knowledge (CLICK) and online courses


Higher Education

  • • Jai Prakash Narayan National Centre for Excellence in Humanities to be set up in MP

  • • Rs500 crore provided for setting up 5 more IITs in the Jammu, Chhattisgarh, Goa, Andhra Pradesh and Kerala

  • • Five IIMs in the States of HP, Punjab, Bihar, Odisha and Rajasthan

  • • Simplification of norms to facilitate education loans for higher studies


Information Technology

  • • Pan India programme “Digital India” to with an outlay of Rs500 crore to be launched

  • • Programme for promoting “Good Governance” to be launched. A sum of Rs100 crore provided


Information and Broadcasting

  • • Rs100 crore allocated for 600 new and existing Community Radio Stations

  • • Film & Television Institute, Pune and Satyajit Ray Film & Television Institute, Kolkata are proposed to be accorded status of Institutes of national importance and a “National Centre for Excellence in Animation, Gaming and Special Effects to be set up

  • • Rs100 crore is provided for Kisan TV, to disseminate real time information to the farmers on issues such as new farming techniques, water conservation, organic farming etc


Urban Development

  • • Vision of the Government is that 500 urban habitations to be provided support for renewal of infrastructure and services in next 10 years through PPPs

  • • Present corpus of Pooled Municipal Debt Obligation Facility facility to be enlarged to Rs50,000 crore from Rs5,000 crore

  • • Rs100 crore provided for Metro Projects in Lucknow and Ahemdabad



  • • Extended additional tax incentive on home loans shall be provided to encourage people, especially the young, to own houses

  • • Mission on Low Cost Affordable Housing anchored in the National Housing Bank to be set up

  • • A sum of Rs4,000 crore for NHB from the priority sector lending shortfall with a view to increase the flow of cheaper credit for affordable housing to the urban poor/EWS/ LIG segment is provided

  • • Slum development to be included in the list of Corporate Social Responsibility (CSR) activities to encourage the private sector to contribute more



  • • A programme for the up gradation of skills and training in ancestral arts for development for the minorities “Up gradation of Traditional Skills in Arts, Resources and Goods” to be launched

  • • An additional amount of Rs100 crore for Modernization of Madarsas



  • • Government to establish two more Agricultural Research Institute of excellence in Assam and Jharkhand with an initial sum of Rs100 crore

  • • An amount of Rs100 crore set aside for “Agri-tech Infrastructure Fund”

  • • Rs200 crore provided to open Agriculture Universities in Andhra Pradesh and Rajasthan and Horticulture Universities in Telangana and Haryana

  • • A scheme to provide every farmer a soil health card in a Mission mode will be launched

  • • Rs100 crore has been provided for this purpose and additional Rs56 crore to set up 100 Mobile Soil Testing Laboratories across the country

  • • To meet the vagaries of climate change a “National Adaptation Fund” with an initial sum an amount of Rs100 crore will be set up

  • • A sustainable growth of 4% in Agriculture will be achieved

  • Technology driven second green revolution with focus on higher productivity and including “Protein revolution” will be area of major focus

  • • To mitigate the risk of Price volatility in the agriculture produce, a sum of Rs500 crore is provided for establishing a “Price Stabilization Fund”

  • Central Government to work closely with the State Governments to re-orient their respective APMC Acts

  • • Sum of Rs50 crore provided for the development of indigenous cattle breeds and an equal amount for starting a blue revolution in inland fisheries

  • • Transformation plan to invigorate the warehousing sector and significantly improve post-harvest lending to farmers


Agriculture Credit

  • • To provide institutional finance to landless farmers, it is proposed to provide finance to five lakh joint farming groups of “Bhoomi Heen Kisan” through NABARD

  • • A target of Rs8 lakh crore has been set for agriculture credit during 2014-15

  • Corpus of Rural Infrastructure Development Fund (RIDF) raised by an additional Rs5000 crore from the target given in the Interim Budget to Rs25,000 crore

  • • Allocation of Rs5,000 crore provided for the Warehouse Infrastructure Fund “Long Term Rural Credit Fund” to set up for the purpose of providing refinance support to Cooperative Banks and Regional Rural Banks with an initial corpus of Rs5,000 crore

  • • Amount of Rs50,000 crore allocated for Short Term Cooperative Rural Credit

  • Sum of Rs200 crore for NABARD’s Producers Development and Upliftment Corpus (PRODUCE) for building 2,000 producers organizations over the next two years



  • • Restructuring FCI, reducing transportation and distribution losses and efficacy of PDS to be taken up on priority

  • • Government committed to provide wheat and rice at reasonable prices to the weaker sections of the society

  • • Government when required will undertake open market sales to keep prices under control



  • • Central Government Departments and Ministries to integrate their services with the e-Biz -a single window IT platform- for services on priority by 31 December this year

  • • Rs100 crore provided for setting up a National Industrial Corridor Authority

  • • Amritsar Kolkata Industrial master planning to be completed expeditiously

  • Master planning of three new smart cities in the Chennai-Bengaluru Industrial Corridor region, viz., Ponneri in Tamil Nadu, Krishnapatnam in Andhra Pradesh and Tumkur in Karnataka to be completed

  • • Perspective plan for the Bengaluru-Mumbai Economic corridor (BMEC) and Vizag-Chennai corridor to be completed with the provision for 20 new industrial clusters

  • Development of industrial corridors with emphasis on Smart Cities linked to transport connectivity to spur growth in manufacturing and urbanization will be accelerated

  • Proposed to establish an Export promotion Mission to bring all stakeholders under one umbrella

  • • Apprenticeship Act to be suitably amended to make it more responsive to industry and youth


Micro Small and Medium Enterprises (MSME) Sector

  • • Skill India to be launched to skill the youth with an emphasis on employability and entrepreneur skills

  • • Committee to examine the financial architecture for MSME Sector, remove bottlenecks and create new rules and structures to be set up and give concrete suggestions in three months

  • • Fund of Funds with a corpus of Rs10,000 crore for providing equity through venture capital funds, quasi equity, soft loans and other risk capital specially to encourage new startups by youth to be set up

  • • Corpus of Rs200 crore to be set up to establish Technology Centre Network

  • Definition of MSME to be reviewed to provide for a higher capital ceiling

  • Programme to facilitate forward and backward linkages with multiple value chain of manufacturing and service delivery to be put in place

  • • Entrepreneur friendly legal bankruptcy framework will be developed for SMEs to enable easy exit

  • • A nationwide “District level Incubation and Accelerator Programme” to be taken up for incubation of new ideas and necessary support for accelerating entrepreneurship



  • • Rs50 crore is provided to set up a Trade Facilitation Centre and a Crafts Museum to develop and promote handloom products and carry forward the rich tradition of handlooms of Varanasi

  • • Sum of Rs500 crore for developing a Textile mega-cluster at Varanasi and six more at Bareilly, Lucknow, Surat, Kutch, Bhagalpur and Mysore

  • • Rs20 crore to set up a Hastkala Academy for the preservation, revival, and documentation of the handloom/handicraft sector in PPP mode in Delhi

  • Rs50 crore is provided to start a Pashmina Promotion Programme (P-3) and development of other crafts of Jammu & Kashmir



• An institution to provide support to mainstreaming PPPPs called 4PIndia to be set up with a corpus of Rs500 crore



  • • Rs11,635 crore will be allocated for the development of Outer Harbour Project in Tuticorin for phase I

  • • SEZs will be developed in Kandla and JNPT

  • • Comprehensive policy to be announced to promote Indian ship building industry


Inland Navigation

• Project on Ganges called “ Jal Marg Vikas’ to be developed between Allahabad and Haldia


New Airports

• Scheme for development of new airports in Tier I and Tier II Cities to be launched


Roads sector

  • • Sector needs huge amount of investment along with debottlenecking from maze of

  • clearances

  • • An investment of an amount of Rs37,880 crore in NHAI and State Roads is proposed which includes Rs3,000 crore for the North East

  • • Target of NH construction of 8500 kms will be achieved in current financial year

  • • Work on select expressways in parallel to the development of the Industrial Corridors will be initiated. For project preparation NHAI shall set aside a sum of Rs500 crore



  • • Rs100 crore is allocated for a new scheme “Ultra-Modern Super Critical Coal Based

  • Thermal Power Technology”

  • • Comprehensive measures for enhancing domestic coal production are being put in

  • place

  • • Adequate quantity of coal will be provided to power plants which are already

  • commissioned or would be commissioned by March 2015

  • • An exercise to rationalize coal linkages to optimize transport of coal and reduce cost of

  • power is underway


New & Renewable Energy

  • • Rs500 crore provided for Ultra Mega Solar Power Projects in Rajasthan, Gujarat, Tamil Nadu, Andhra Pradesh and Laddakh

  • • Rs400 crore provided for a scheme for solar power driven agricultural pump sets and

  • water pumping stations

  • • Rs100 crore provided for the development of 1 MW Solar Parks on the banks of

  • canals

  • • A Green Energy Corridor Project is being implemented to facilitate evacuation of

  • renewable energy across the country


Petroleum & Natural Gas

  • • Production and exploitation of Coal Bed Methane reserves will be accelerated

  • Possibility of using modern technology to revive old or closed wells to be explored

  • • Usage of PNG to be rapidly scaled up in a Mission mode

  • • Proposal to develop pipelines using appropriate PPP models



• Changes, if necessary, in the MMDR Act, 1957 to be introduced to encourage investment in mining sector and promote sustainable mining practices




Capital Market

  • • Ongoing process of consultations with all the stakeholders on the enactment of the Indian Financial Code and reports of the Financial Sector Legislative Reforms Commission (FSLRC) to be completed

  • • Government in close consultation with the RBI to put in place a modern monetary policy framework

  • Following measures will be taken to energize Capital markets:

    1. Introduction of uniform KYC norms and inter-usability of the KYC records across the

    2. entire financial sector

    3. Introduce one single operating demat account

    4. Uniform tax treatment for pension fund and mutual fund linked retirement plan





  • • Time bound programme as Financial Inclusion Mission to be launched on 15th August this year with focus on the weaker sections of the society

  • • Banks to be encouraged to extend long term loans to infrastructure sector with flexible structuring

  • • Banks to be permitted to raise long term funds for lending to infrastructure sector with minimum regulatory pre-emption such as CRR, SLR and Priority Sector Lending (PSL)

  • • RBI to create a framework for licensing small banks and other differentiated banks

  • • Differentiated banks serving niche interests, local area banks, payment banks etc. are contemplated to meet credit and remittance needs of small businesses, unorganized sector, low income households, farmers and migrant work force

  • Six new Debt Recovery Tribunals to be set up

  • • For venture capital in the MSME sector, a Rs10,000 crore fund to act as a catalyst to attract private Capital by way of providing equity , quasi equity, soft loans and other risk capital for start-up companies with suitable tax incentives to participating private funds to be established


Insurance Sector

  • • The pending insurance laws (amendment) Bill to be immediately brought for consideration

of the Parliament

  • • The regulatory gap under the Prize Chits and Money Circulation Scheme (Banking)

Act, 1978 will be bridged


Small Savings

  • • Kissan Vikas Patra (KVP) to be reintroduced

  • • A special small savings instrument to cater to the requirements of educating and marriage of the Girl Child to be introduced

  • • A National Savings Certificate with insurance cover to provide additional benefits for the small saver

  • • In the PPF Scheme, annual ceiling will be enhanced to Rs1.5 lakh p.a. from Rs1 lakh at present



  • • A further sum of Rs1,000 crore to meet requirement for “One Rank One Pension”

  • • Capital outlay for Defence increased by Rs5,000 crore including a sum of Rs1,000 crore for accelerating the development of the Railway system in the border areas

  • • Urgent steps would also be taken to streamline the procurement process to make it speedy and more efficient

  • • Rs100 crore is provided for construction of a war memorial in the Princes Park, which will be supplemented by a War Museum. I am allocating a sum of Rs100 crore for this purpose

  • • Rs100 crore is provided to set up a Technology Development Fund for Defence


Internal Security

  • • Rs3,000 crore is provided in the current financial year for modernization of state police forces

  • • Adequate allocation for Additional Central Assistance for Left Wing Extremist Affected districts

  • • Rs2,250 crore provided to strengthen and modernize border infrastructure

  • • Rs990 crore allocated for the socio economic development of the villages along the borders

  • • A sum of Rs150 crore ear-marked for the construction of Marine Police Station, Jetties and for the purchase of boats etc

  • • Rs50 crore provided for construction of National Police Memorial



  • • Rs200 crore provided to build the Statue of unity(National project)

  • Facility of Electronic Travel Authorization (e-Visa) to be introduced in phased manner at nine airports in India

  • • Countries to which the Electronic Travel authorisation facility would be extended would

  • be identified in a phased manner

  • • Rs500 crore provided for developing 5 tourist circuits around specific themes

  • Rs100 crore provided for National Mission on Pilgrimage Rejuvenation and Spiritual Augmentation Drive (PRASAD)

  • • Rs200 crore provided for National Heritage City Development and Augmentation Yojana (HRIDAY)

  • • Rs100 crore provided for Archaeological sites preservation

  • Sarnath-Gaya-Varanasi Buddhist circuit to be developed with world class tourist amenities to attract tourists from all over the world



  • • Rs100 crore provided for Detailed Project Reports for linking of rivers

  • • Rs2,037 crore provided for Integrated Ganga Conservation Mission “NAMAMI GANGE”

  • • Rs100 crore provided for Ghat development and beautification at Kedarnath, Haridwar, Kanpur, Varanasi, Allahabad, Patna and Delhi

  • NRI Fund for Ganga will be set up



  • • Government to strengthen at least five institutions as Technical Research Centres

  • Development of Biotech clusters in Faridabad and Bengaluru

  • Nascent agri-biotech cluster in Mohali to be scaled up. In addition, two new clusters, in Pune and Kolkata to be established Global partnerships will be developed under India’s leadership to transform the Delhi component of the International Centre for Genetic Engineering and Biotechnology (ICGEB) into a world-leader in life sciences and biotechnology

  • Several major space missions planned for 2014-15



  • Rs200 crore provided for upgrading the indoor and outdoor sports stadiums in Jammu and Kashmir Valley to international standards

  • • Rs100 crore provided for sports university in Manipur

  • India to start an annual event to promote Unique sports traditions in the Himalayan region games

  • • Rs100 crore provided for the training of sports women and men for forthcoming Asian games

  • • A “Young Leaders Programme” with an initial allocation of Rs100 crore to be set up



  • • Rs100 crore provided for development of organic farming in North Eastern States

  • • Rs1,000 crore provided for development of rail connectivity in the North Eastern Region

  • • To provide a strong platform to rich cultural and linguistic identity of the North-East, a new 24x7 channel called “Arun Prabha” will be launched



  • • Government committed to addressing the issues relating to development of Andhra Pradesh and Telangana in the AP Re-organization Act, 2014. Provision made by various Ministries/Departments to fulfill the obligation of Union Government



  • • Rs200 crore for power reforms and Rs500 crore for water reforms to make Delhi a truly World Class City

  • • Rs50 crore provided to solve the long term water supply issues to the capital region

  • Construction of long pending Renuka Dam to be taken up on priority



  • • Rs150 crore provided to tide over communication related problems of the Island

  • Rs188 crore to Puducherry for meeting commitments for Disaster preparedness



• Rs500 crore provided to support displaced Kashmiri migrants for rebuilding their lives



• Rs100 crore provided to set up a National Centre for Himalayan Studies in Uttarakhand



  • • Mandate to be fulfilled without compromising fiscal consolidation

  • • Non-plan Expenditure of Rs12.2 lakh crore with additional provision for fertilizer subsidy and Capital expenditure for Armed forces

  • • Rs5.75 lakh crore Plan expenditure – increase of 26.9% over actuals of 2013-14

  • Plan increase targeted towards Agriculture, capacity creation in Health and Education, Rural Roads and National Highways Infrastructure, Railways network expansion, clean energy initiatives, development of water resources and river conservation plans

  • • Total expenditure of Rs17.94 lakh crore estimated

  • • Gross Tax receipts of Rs13.64 lakh crore estimated

  • • Net to centre of Rs9.77 lakh crore estimated

  • • Fiscal deficit of 4.1% of GDP and Revenue deficit of 2.9% estimated

  • New Statement to separately show plan allocation made for North Eastern Region

  • • Allocation of Rs53,706 crore for North East Regions

  • • Allocation of Rs50,548 crore under SCSP and Rs32,387 under TSP

  • Allocation for women at Rs98,030 crore and for children at Rs81,075 crore



  • • Ambitious Revenue Collection Targets in Interim Budget. Proposed tax changes factored in the Budget Estimates 2014-15

  • • Measures to revive the economy, promote investment in manufacturing, rationalize tax provisions to reduce litigation, address the problem of inverted duty structure in certain areas. Tax reliefs to individual tax payers



Ganesh Kamat

2 years ago

Simple Procedures-Solves most Problems,
Kindly see if you can Implement this?

(A)....After the Budget...

Most members of the House say,

that the Budget is…

Either, Pro-Poor or Anti-Poor….

Though these members would not even knows,

their own Liabilities,

Due to the Complex Laws,

Rules & Regulations in the Budget.

They make Complicated Laws &

unreasonable Procedure, to accommodate whom?

So our Democracy is no doubt,

BY:- the people, but

OF:- the Leaders? &

For:- the Administrators?

Simple Laws-Solves Problems,

OF:- the people,

FOR:- Growth-Prosperity to all.

Are you for Simple Laws?


(B)....Rail Reform...

Why, Passenger Train is important ?

1) British gave us Mail/ Express and Passenger Trains.

2) We added Super Fast Trains in place of Passenger Train.

3) Passenger train are helpful for rural area farmers to
sell their farm product to Taluka/ District places, without
middleman hence creating Employment & better value to our farmers.

4) Now a day they are talking about bullet train !
they call this as their vision?

5)Today we are in need of MORE passenger Train First
Which cost hardly anything, for our farmer.

Unfortunately No M.P. Raise this Question In our Parliaments.


(C)....TAX Reform Agenda ....

People are fed up with so called Development Agenda,

So Simple Agenda is:- 1% Tax on Gross Receipt, All other Tax abolition.

All are talking about Problems i.e.-Corruption, Inflation, Red-Tape,
Black Money, Unemployment etc.

Only new Laws may NOT be the solution.

We need Tax Reform, Administrative reform, Bank Reform..
with solution NOT words, but by action.

If we go to Public with such Reform solution..

1)How they get their work done with simplicity,
is the issue today for the people.

2)Tax Reform....1%+1% =2% Tax on gross receipt from other's.
1%..Tax + (1%>>to their own Account) as Less Privilege Fund.(L.P.F.)

3)This 1% L.P.F. will give power to the people as Less Privileged Fund
is their own Money.

4)Tax Number is your mobile number.
Bank Account Number is your mobile number.

5)Tax payment will be as easy, as payment of post paid mobile charges.

6)Salaried people will be happy as they have to pay less.

7)Government will get more Tax collection at least Two times,
as money transaction/ circulation is always at least 20 times or more.
No Black money problem.

8)All other Tax will be abolished, so all others are happy, can increase their
income & Concentrate more on the Business/ Work/ Services
& thus generate more employment.

9)In Administration Reform create simple procedure for various permits/ license.

10)Cash transaction is way of life in India, yet if system is simple,
Tax % Minimum All will pay Tax.

"Apple a day keeps Doctor away"... if apple costs Rs.10/-Each.
but if apple costs Rs.100/-Each???

Our development cost so high, so all our Netas, are all for, development.

Development is like cube of ice, Actual user may get, only cold palm.

So More Government means more development of Netas & Babus.
Less Government means more development of common man.

Let's NOT create any more problems and then try to solve it.
and to have Simple pay Tax & Proceed policy.

Let's Not stay like chor, by avoiding Tax, but by paying simplified minimum Tax.
So our new born baby's hand will not be with Tattoo-"Mera Baap Chor Hai".

Any Party want to work with such Agenda?

Awaiting Feedback..

[email protected]

Ganesh Kamat 9820867755
B.E.(civil), M.S.(U.S.A.)

BMC: Structural Audit Engineer -42 yrs. Exp.
Pioneers Low Cost, Green, Speedy RCB Housing.




2 years ago

This is a BBTM (bullshit-boggles-the-mind) budget. The bullshit of small time tax reliefs in individual income tax is designed to boggle the mind of the masses while not making any meaningful progress on things of importance: GST, GAAR and the patently foolish retrospective tax regime unleashed by our Hon' President, the introduction of a new retrospective tax by changing capital gains definition to 3 years from this FY (= tax increases on investments already made), no clear incentives for FDI in most sectors, idiotic protection for the steel lobby etc. etc.
Overall a major disappointment - and the investors are rightly voting with their feet as the sensex shows. The new retrospective tax on debt funds is either malicious disregard for investors or a staggering lack of understanding about investments.
Such a lost opportunity.

Prakash Basrur

2 years ago

A reasonable budget presented within the first 100 days of new government ! It would take quite some time to get out of the pass-over burden of rollover of postponed costs of "Free Lunches" from the previous budget of Chiddu and his Saint Poet Kular ! Even if India became another state of USA and sought federal funds from Washington it would have brought down the US economy ! Such gigantic are our problems and we do not have China-like "Gun point People's Republic" to steam roll infrastructure plans!


2 years ago

The budget is a blip in a five year journey that must be measured against the manifesto and ultimately re election. This will be tough as Nehru-Gandhi Khangressism and thinking is a multiple myeloma that has grown unchecked for 67 years. It permeates the Constitution, the laws, the courts, babudom, lathidom, netadom and subverts the resources of the Nation to the personal pelf, pleasure, power and perpetuation of the ruling scum of which, the Government of the day is an in significant component. How is accountability to be manifested and the scalpel applied in the sleaze driven culture?


2 years ago

If you closed your eyes and heard Arun Jaitley properly, you would have thought it was Chidambaram speaking - Arvind Kejriwal

My dear Arvind Kejriwal,

It requires wisdom to understand wisdom: the music is nothing if the audience is deaf.

Hemendra Shah

2 years ago

Good information Money life point to point.
Pro-growth, Progressive and well thought out Budget ! Bravo FM !
Unfortunately!Market reacted otherwise and sell off happened ! may be expectations were too high ! :)
Once the proposals interpreted correctly and understood then stock market should bounce back !India will be on the way to Glory even if 60% of the proposals implemented !

We are listening!

Solve the equation and enter in the Captcha field.

To continue

Sign Up or Sign In


To continue

Sign Up or Sign In



The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)