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Review of Union Budget 2014 1. Fiscal deficit target for 2014-15 at 4.1% of GDP and 3.6 for 2015-16 and 3% for 2016-172. Revenue Deficit seen at 2.9% for FY153. Aim to achieve 7-8 per cent economic growth rate in next 3-4 years: FM4. Committed for growth of agriculture at the rate of 4 per cent.5. Defence FDI cap raised to 49% from 26% at present6. Exemption limits on income tax from Rs. 2 lakh to Rs. 2.5 lakh.7. For senior citizens, the exemption on income has been raised to Rs. 3 lakh per annum.8. Tax-free cap on home loan …

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Review of Union Budget 2014 1. Fiscal deficit target for 2014-15 at 4.1% of GDP and 3.6 for 2015-16 and 3% for 2016-172. Revenue Deficit seen at 2.9% for FY153. Aim to achieve 7-8 per cent economic growth rate in next 3-4 years: FM4. Committed for growth of agriculture at the rate of 4 per cent.5. Defence FDI cap raised to 49% from 26% at present6. Exemption limits on income tax from Rs. 2 lakh to Rs. 2.5 lakh.7. For senior citizens, the exemption on income has been raised to Rs. 3 lakh per annum.8. Tax-free cap on home loan …

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