New Delhi: Price of branded or premium petrol will be cut by over Rs 5 per litre after the government reduced excise duty on the fuel. The government had in 2008 introduced differential duty structure for normal and branded/premium petrol and diesel.
Branded petrol attracts a total of Rs 15.50 per litre in excise duty as compared to Rs 9.20 a litre on regular or unbranded fuel. Similarly, branded diesel attracts Rs 5.75 a litre excise duty as opposed to Rs 3.46 a litre for fuel without a brand name. This had led to sales of branded fuel falling to almost nil. Finance Minister Arun Jaitley presenting his maiden Budget announced reduction of central excise duty on branded petrol from Rs 7.50 per litre to Rs 2.35 a litre. No change in excise duty on branded diesel was made. (PTI)
Sops galore for realty sector
New Delhi: Much to the relief of slowdown- hit realty sector, the government today relaxed FDI rules, gave incentives on home loans, offered tax sops on investment trusts and provided Rs 7,060 crore for the development of 100 smart cities.
Finance Minister Arun Jaitley in his Budget 2014-15 also increased the allocation of Rural Housing Fund, run by National Housing Bank (NHB), to Rs 8,000 crore in this fiscal. Another Rs 4,000 has been earmarked for NHB to increase the flow of cheaper credit for affordable housing for urban poor. “Our government is committed to endeavour to have housing for all by 2022,” Jaitley said. (PTI)
Rs 8,000 cr bridge to reduce gap b/w digital haves & have nots
New Delhi: The government today earmarked more than Rs 8,000 crore to integrate technology across sectors so as to connect rural India via the Internet and increase transparency in its functioning. Finance Minister Arun Jaitley proposed schemes like setting up smart cities, taking internet to rural areas, to promoting start-ups and virtual classrooms in the social media-savvy government’s efforts to bridge the divide between “digital haves and have nots”.
The Minister proposed an allocation of Rs 7,060 crore in the current fiscal for developing 100 ‘smart cities’. (PTI)
Free drugs, diagnosis to ensure ‘Health for All’
New Delhi: Aiming to ensure “Health for All,” government promised to take up on priority initiatives like providing free drugs and diagnostic services besides earmarking Rs 500 crore to set up four more AIIMS-like institutes and earmarked Rs 39,237.82 crore for the sector. Finance Minister Arun Jaitley said the government has also decided to set up 15 model rural health research centres in states for better healthcare facilities in rural India. (PTI)