Union Budget 2015-16: Arun Jaitley presents NDA's maiden Budget
28 Feb 2015
Finance minister Arun Jaitley began by presenting the Narendra Modi government's full-fledged budget, Union Budget 2015-16, stating India's GDP in the financial year 2015-16 is expected to grow between 8 and 8.5 per cent,
Here are some early highlights:
- To keep fiscal discipline in mind despite need for higher investment
- Fiscal deficit 3.9 pct of GDP in 2015-16
- Committed to meet fiscal target of 4.1 pct of GDP
- Committed to meeting medium term fiscal deficit target of 3 pct of GDP
- Current account deficit to be brought below 1.3 per cent of GDP
- Goods and services tax expected by April 2016
- GDP growth expected at between 8 per cent and 8.5 per cent and double-digit growth rate achievable soon
- Consumer inflation expected to remain close to 5 per cent by March, leading to more monetary policy easing
- To build additional 100,000 km of road