The Finance Minister, P. Chidambaram while presenting the Interim Budget 2014-15 has kept the plan expenditure of Rs. 5,55,322 crore and non-plan expenditure of Rs. 12,07,892 crore. In other words, FY15 plan expenditure has been kept at the same level as FY14. The Finance Minister expects a GDP growth of 6% during the next fiscal.
Finance Minister also said the Government has given a big push to infrastructure and capacity addition in infrastructure industries. The Cabinet Committee on Investment and the Project Monitoring Group set up to speed up the implementation of projects in the country has cleared 296 projects with an estimated project cost of Rs. 660,000 crore by the end of January 2014.
An amount of Rs 11,200 crore has been provided for capital infusion in Public Sector Banks(PSB’s)in the Interim Budget 2014-15. The Finance Minister said Rs. 65,000 crores is provided for fuel subsidy. He has also cut excise duty on capital goods by 2%.
