The budget can be a joy to behold. The good part here, is that the Finance Minister has not made exaggeratedly hopeful projections, and, therefore, the scope for disappointment could be reduced.


  • Bank loans for the infra sector to be exempt from CRR and SLR. This should reduce the cost of funds for these companies, and hopefully will boost the infrastructure.


  • Financial Year 2015 fiscal deficit targeted at 4.1 percent, FY16 at 3.6 percent.


  • Foreign institutional investors' capital gains to be taxed, and not business income.


  • Tax-pass through allowed for real estate, infrastructure investment trusts to avoid double taxation.


  • Power plants are going operational in March 2015 to get adequate coal supply.


  • Tax holiday for power generation companies extended till 2017.


  • Subsidy expenses estimated at Rs 2.5 Lakh Crore, almost the same as in the interim Budget.


  • FDI in the insurance sector insurance from 26% to 49%.


  • I-T exemption limit hiked to Rs 2.5 lakh for those below 60 years and up to Rs 3 lakh for senior citizens.


  • Divestment targets not very aggressive at Rs 43,425 crore. This means that the government is not relying heavily on divestment to bridge fiscal deficit.


  • Budgetary provision for Pooled Municipal Debt Obligation enhanced from Rs 5000 crores to Rs 50,000 crores to promote and finance infrastructure projects in urban areas on shared risk basis.



  • No move to repeal retrospective tax amendments


  • No clear plan to reduce subsidies.


  • No clear plan to recapitalize PSU banks or tackle the NPA problem


  • No reduction in gold import duty.


  • No clear timeline for implementation of GST


  • No mention of GAAR


  • Rs.200 crores set for Sardar Patel's Statue.