Highlight of Union Budget 2015

Fiscal deficit

* Fiscal deficit seen at 3.9 pct of GDP in 2015/16

* Will meet the challenging fiscal target of 4.1 pct of GDP

* Remain committed to meeting medium term fiscal deficit target of 3 pct of GDP

* Current account deficit below 1.3 percent of GDP

* Jaitley says have to keep fiscal discipline in mind despite need for higher investment


* GDP growth seen at between 8 pct and 8.5 pct y/y

* Aiming double digit growth rate, achievable soon


* Expects consumer inflation to remain close to 5 percent by March, opening room for more monetary policy easing

* Monetary policy framework agreement with the RBI clearly states objective of keeping inflation below 6 percent

Policy reforms

* Propose to create a universal social security system for all Indians

* Propose to merge commodities regulator with SEBI

* Allocates 346.99 billion rupees for rural employment guarantee scheme in 2015/16

* To bring a new bankruptcy code in 2015/16

* Jaitley says will move to amend the RBI act this year, and provide for a monetary policy committee

* To set up public debt management agency


* Expects to implement goods and services tax by April 2016

* Plans to introduce direct tax regime that is internationally competitive on rates without exemptions


* Investment in infrastructure will go up by 700 bln rupees in 2015/16 over last year

* Plans to set up national investment infrastructure fund

* Proposes tax-free infrastructure bonds for projects in roads, rail and irrigation projects

* Proposes 5 ultra mega power projects for 4,000 MW each

* Second unit of Kudankulam nuclear power station to be commissioned in 2015/16

* Will need to build additional 100,000 km of road

* Ports in public sector will be encouraged to corporatise under Companies Act


* If revenue improves, hope to raise budgeted allocations for rural job scheme by 50 billion rupees in 2015/16


* We are committed to subsidy rationalisation based on cutting leakages

Finance minister’s comments

* “The world is predicting it’s India’s time to fly”

* “We inherited a sentiment of doom and gloom. The investment community had almost written us off. We have come a long way since then.”

* “We have turned around the economy, dramatically restoring macroeconomic stability and creating the conditions for sustainable poverty elimination, job creation, durable double digit economic growth.”

* “While being mindful of the challenges … this gives us reason to feel optimistic.”

* “Domestic and international investors are seeing us with renewed interest and hope.”

Trying to connect you from almost all the hottest news of Bihar and the reason behind this is to ensure the proper awareness of all of the citizen.
So say AaoBihar



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