Prime Minister Narendra Modi tweeted that the Union Budget 2014 heralds a new beginning at a time when the country’s economy is on the verge of collapse. The first Budget of the Narendra Modi government was presented by July 10, 201, by Finance Minister Arun Jaitley.

Here’s a video of the highlights of Budget 2014 that include provisions like IT exemption limit increased to Rs 2.5 lakh for individuals and Rs 3 lakh for senior citizens, setting up of 5 IITs and 5 IIMs, and 12 more medical colleges in India, plus AIIMS-like hospitals in every state. Cigarettes will cost more but colour TVs will cost less.

Watch Union Budget 2014 Highlights video below!