Budget 2016: India on strong wicket despite global crisis, says Jaitley

Amid massive cacophony in the Parliament, Finance Minister Arun Jaitley presented his second full-year Budget. He said the Indian economy has held its ground strongly despite global headwinds. He said though the global economy is in a serious crisis and global growth has slowed, there is a lot of hope and confidence is building as far as India is concerned.Global economy has slowed from 3.4 percent in 2014 to 3.1 percent in 2015.Jaitley said CPI inflation has fallen to 5.4 percent despite two years of monsoon shortfall. He also said GDP growth has risen to 7.6 percent during the NDA government's tenure.The finance minister also said he will increase plan expenditure. He also added that there will be an additional burden on account of 7th Pay Commission and OROP.