- Total allocation for agriculture and farmers'welfare is Rs. 35,984 crores: Finance Minister Arun Jaitley
- Since foreign markets are weak we must rely on domestic demand and Indian markets to ensure that Indian growth doesn't slow down: Jaitley
- Top industry leaders watching FM's Budget speech.
- Govt will reorient its intervention in the farm and non farm sector to double the income of farmers by 2022.
- Jaitley announces the nine pillars of his Budget — Agriculture and farmers' welfare, rural sector, social sector including healthcare, education, skills and job creation, infrastructure, financial sector reforms, ease of doing business, fiscal discipline, tax reforms to reduce compliance burden.
- Nominal premium and highest ever compensation in case of crop loss under the PM Fasal Bima Yojna-FM Jaitley
- We had to work in unsupportive global environment,adverse weather conditions and obstructive political atmosphere-Jaitley
- We are grateful to our farmers for being the backbone of the country's food security-Finance Minister Arun Jaitley
- CAD is 1.4% of GDP.
- FY 16-17 will have the additional burden of implementing the VII pay commission and the defence OROP.
- Our external situation is robust: Finance Minister Arun Jaitley
- Govt has to prioritize expenditure. Focus on rural and social sectors, infrastructure and recapitalization of banks-FM Jaitley
- Current account deficit has declined from 18.4 billion US dollars in 1st half of last year to 14.4 billion this year- Arun Jaitley
- We inherited an economy of slow growth, high inflation and low faith in Government-FM Jaitley
- Forex Reserves are at highest ever level, have reached their highest mark at $350 billion-FM Arun Jaitley
- Financial Year 2017 will be challenging for Government expenditure-FM Jaitley
- Foreign exchange reserves are at the highest ever level- FM Jaitley
- Foreign exchange reserves are at the highest ever level- FM Jaitley
- Kashti chalaane walon ne jab haar ke di patvaar humein, lehar lehar toofan mile, phir bhi dikhaaya hai humne ...aur phir ye dikha denge sabko ki in halaat mein ata hai dariya karna paar humein: Jaitley
- Growth of GDP has accelerated to 7.6% .CPI inflation has declined to 5.4%-FM Arun Jaitley
- Amidst slowdown in global growth and trade, the Indian economy has held its ground firmly-Finance Minister Arun Jaitley
- I am presenting this budget when global economy is in a serious crisis. Indian economy has held
- its ground firmly-A Jaitley
- Lot of confidence and hope continues to be build around India-FM Jaitley
- Union Finance Minister Arun Jaitley presents Budget 2016.
- FM Arun Jaitley begins Budget speech in Parliament.
- FM Arun Jaitley shows off Budget 2016 briefcase
- Rakesh Bharti Mittal, Bharti Enterprises: We need to see positive impact of reforms, rural sector needs to be incentivised. High time pvt sector be brought in to help farms
- Copies of Union Budget 2016 brought to Parliament.
- EAM Sushma Swaraj, Defence Minister Manohar Parrikar arrived for cabinet meet in the Parliament, meet underway
- PM Modi and Union Minister Venkaiah Naidu in Parliament
- Cabinet meeting in Parliament ends, UnionBudget2016 approved by the Cabinet
Prime Minister Narendra Modi wants today's Budget
to appeal to India's rural poor, officials familiar with his thinking
said, in a strategy shift designed to boost his party, the BJP's
prospects in crucial state elections to be held soon.
But that will disappoint investors. Stock markets opened lower ahead of Budget announcements on Monday morning.
The government is expected to increase spending on
agriculture, health and social sectors, a change from its focus on
infrastructure spending and market reforms, officials told Reuters.
In its first two years in power, the Modi
government splurged on roads and railways at the expense of welfare
programmes in the hope of creating economic stimulus. The PM's gamble
was that infrastructure investment would eventually generate dividends
for the poor and the rural community.
But rising rural distress after back-to-back
droughts and the recent election defeat in Bihar, a largely agricultural
state, have upset that calculus. The BJP calculates that the opposition
successfully attacked the government as a "suit boot ki sarkar
(government for the rich)." Today's Budget is expected to counter that
criticism ahead of key elections in heartland farming states such as
West Bengal this year and Uttar Pradesh next year.
But the increased social spending may hike the
closely watched fiscal deficit to 3.8 percent of GDP next financial year
from a target of 3.5 percent, one official said. Last week, the rupee
slumped on fears of a higher deficit level.
Investors are looking for concrete initiatives
from PM Modi's government to make it easier to do business, with hopes
it will move to simplify a complex tax regime seen as deterring
investors.
While Mr Jaitley has previously outlined his
intention to reduce corporate tax from 30 to 25 percent before the next
election, Monday is expected to be the first time he lays out a detailed
roadmap to reach that target.
"I have an exam too. 125 crore Indians are going
to test me, tomorrow is the Budget," Prime Minister Narendra Modi said
in his radio address Mann Ki Baat on Sunday as he wished school students
for the board examinations that begin tomorrow.
The finance ministry has promised that the 2016-17
budget will be "growth-oriented" in the face of a global climate that
appears significantly more challenging than last year.
