Demonetisation was a bold and decisive strike in a series of measures to arrive at a new normal of bigger, cleaner and real GDP, he said, adding that it has only a transient impact on economy and the long term benefit include higher GDP growth and tax revenue.
In his Budget speech, Finance Minister Arun Jaitley said that to leverage Information Technology, a new platform called Swayam will be launched. Students will have access to more than 1500 courses. The government will also tie-up with DTH channels for the same.
Finance Minister Arun Jaitley today said the focus of his Budget for 2017-18 will be on 10 important sectors, including farmers, infrastructure, digital economy and tax administration to transform, energise and clean India.
India is a "bright spot" in the world economy, Finance Minister Arun Jaitley said as he unveiled his annual Budget on Wednesday, adding that the impact on growth from the government's cash crackdown would wear off soon.
Expectations were rife that the Narendra Modi government will announce a populist budget given the fact that five states are going to assembly polls later this month. Measures aimed at soothing the adverse impact of demonetization are also expected.
Demonetisation has been a bold decision of the government against black money, Finance Minister Arun Jaitley said is his Budget speech today.
Watch accompanying videos of Finance Minister Arun Jaitely presenting the Union Budget 2017.
The government has waived basic custom duty on nickel -- a key steel making raw material -- in a major relief to the steel industry which is facing tough times.
Expenditure Budget - Volume I and II
Memorandum - Part 1 and 2
Finance Bill: 1) Preliminary 2) Rates of Income Tax 3) Income Tax and Wealth Tax 4) Customs and Excise 5) Service Tax.
The Central Statistics Office has recently released a new series for GDP, which involves a number of changes relative to the old series. Based on the new series, estimated GDP growth for 2014-15 is 7.4%. Growth in 2015-16 is expected to be between 8 to 8.5%. Aiming for a double-digit rate seems feasible very soon.
Markets are expecting a Budget that will lay the foundation for sustained growth in the economy and also one that focuses on fiscal rectitude, says brokerage firm Kotak Securities
Excise tax collection is expected to see 20% jump over previous year whereas service tax is expected to record 13% increase
Low fuel prices have cut down on fuel subsidy. Excise revenues to go up with economy picking up.
Speech of Shri Suresh Prabhakar Prabhu introducing the Railway Budget for 2015-16 on 26th of February, 2015.
CRISIL expects India‘s export revenues to grow by nearly 10-11 percent in 2015-16 to USD 28 billion, led by rising generic demand in regulated markets and India‘s cost-competitive product offerings.
He had all of 45 days, from being appointed finance minister, to presenting the full Union Budget for 2014-15 but Arun Jaitley showed glimpses of the kind of changes the present NDA government can bring to economic policy but disappointed many by staying away from big-bang reforms as they had expected.
While presenting the tax proposals in the Budget 2013-14, the Finance Minister set the context by stating that the underlying theme of his proposals is to bring clarity in tax laws, stability in tax regime, provide a non-adversarial tax administration and a fair dispute resolution mechanism.
The budget for financial year 2013-14 has been widely debated. There are different and varied views on the budget.
India's 2013/14 Budget unveiled last week offers a "realistic" plan to meet the country's fiscal deficit target, and should be a credit positive for its sovereign ratings, Moody's Investors Service said in a report on Monday.
Budget 2013-14: Sectors which got affected
In the Union Budget 2013 Finance Minister - P Chidambaram presented a budget that appears "working" and has nothing exceptional to offer to fuel growth. While there are many things that could have been done, focus on infrastructure certainly is a positive step that could result in growth for allied sectors.
The finance ministry‘s printing press located in the basement of North block can print more than 5,000 copies of the budget papers in one hour.