Budget highlights relating to SMEs
Updated: Jul 10, 2014 12:49:41pm
New Delhi, Jul 10 (KNN)
· Additional Rs 1000 cr to boost rail connectivity
· Rs 500 cr for ultra-modern solar power projects
· Rs 100 crore for transforming employment exchanges into career centres
· Plan to establish 7 industrial cities in India
· Biotech clusters to be set up in Bangaluru and Faridabad to take science and technology to new heights
· Govt approves minimum monthly pension of Rs 1,000 per month under EPS-95 scheme run by EPFO.
· To Enhance PPF Contribution To Rs 1.5 Lk
· To Set Up 6 Debt Recovery Tribunals
· To set-up Rs 10,000 cr Start-Up fund for new businesses
· To set up Trade Facilitation Centres for Varanasi
· SEZs To Be Developed In Kandla, JNPT
· Urgent need to attract PPP investment for foods sector
· Propose Rs 200 Cr To Set Up 6 More Textile Clusters
· Plan 6 More Textile Clusters
· To Amend Apprenticeship Act
· To launch National Skill india programme
· Committed to provide stable, investor friendly taxation regime
· Committed To Supply 24x7 Power Supply To All Households
· Need to revive growth in manufacturing sector
. Scheme for for feeder separation to augment power supply to rural areas & for strengthening sub-transmission and distribution systems
. All Central Govt Depts & Ministries will integrate their services with eBiz platform on priority by 31 Dec this year
Tourism
· Setting Aside Rs 500 Cr For 5 Tourist Circuits
· e-Visas To Be Allowed In 9 Airports
Taxation
· To approve goods and services tax by end of this year
· Will not change rules on retrospective taxation
· All pending cases of retrospective tax for indirect transfers to be examined by a high-level committee before action is taken
· Changes in transfer pricing mechanism
· Withholding Tax On Corporate Bonds Issued Overseas Extended (KNN Bureau)
· Additional Rs 1000 cr to boost rail connectivity
· Rs 500 cr for ultra-modern solar power projects
· Rs 100 crore for transforming employment exchanges into career centres
· Plan to establish 7 industrial cities in India
· Biotech clusters to be set up in Bangaluru and Faridabad to take science and technology to new heights
· Govt approves minimum monthly pension of Rs 1,000 per month under EPS-95 scheme run by EPFO.
· To Enhance PPF Contribution To Rs 1.5 Lk
· To Set Up 6 Debt Recovery Tribunals
· To set-up Rs 10,000 cr Start-Up fund for new businesses
· To set up Trade Facilitation Centres for Varanasi
· SEZs To Be Developed In Kandla, JNPT
· Urgent need to attract PPP investment for foods sector
· Propose Rs 200 Cr To Set Up 6 More Textile Clusters
· Plan 6 More Textile Clusters
· To Amend Apprenticeship Act
· To launch National Skill india programme
· Committed to provide stable, investor friendly taxation regime
· Committed To Supply 24x7 Power Supply To All Households
· Need to revive growth in manufacturing sector
. Scheme for for feeder separation to augment power supply to rural areas & for strengthening sub-transmission and distribution systems
. All Central Govt Depts & Ministries will integrate their services with eBiz platform on priority by 31 Dec this year
Tourism
· Setting Aside Rs 500 Cr For 5 Tourist Circuits
· e-Visas To Be Allowed In 9 Airports
Taxation
· To approve goods and services tax by end of this year
· Will not change rules on retrospective taxation
· All pending cases of retrospective tax for indirect transfers to be examined by a high-level committee before action is taken
· Changes in transfer pricing mechanism
· Withholding Tax On Corporate Bonds Issued Overseas Extended (KNN Bureau)
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