Union Budget 2015: Updates

Union Budget 2015: Updates - Sakshi Post

Cabinet approved Union Budget 2015-16. (Highlights)

Jaitley’s budget balancing act. Here are the highlights of Union Finance Minister Arun Jaitley’s first full-fledged budget:


Here are the updates:


  • We turned around economy, economy sustainable, reason to feel optimistic: FM Arun Jaitley
  • Economic environment far more positive than in the recent past, says Finance Minister Arun Jaitley.
  • We inherited sentiment of gloom and doom, we have come a long way from there, says Jaitley.
  • Rupee has gained by 6.4 per cent against a broad base of currencies; Foreign exchange reserves at record USD 340 billion: Jaitley
  • GDP expected to accelerate to 7.4 pc, making India the fastest growing economy in the world: FM.
  • Coal bearing states will get several lakhs of crores of rupees as royalty following transparent auction process: FM
  • 50 lakh toilets constructed in 2014-15; on the way to achieve target of 6 crore toilets
  • We will move to amend the RBI Act this year to form Monetary Policy Committee: Jaitley
  • Embarked on GST and JAM Trinity to use bank accounts, Aadhar and Mobile number to transfer government benefits: FM.
  • GDP growth to be 8-8.5 pc in 2015-16: FM.
  • We have to aim to making India manufacturing hub. Make in India programme is aimed at raising share of manufacturing in GDP and creating jobs: FM
  • States to get in 2015-16 Rs 5.24 lakh crore or 42 per cent of central taxes, up from Rs 3.38 lakh crore in the previous year: FM
  • We will achieve 3 per cent fiscal deficit target in two years rather than three years: FM.
  • Will meet the fiscal deficit target of 4.1 per cent of GDP this fiscal: FM.
  • Public investment of Rs 1.25 lakh crore over the and above the revised budgetary target: FM.
  • it will be 3.9 per cent for 2015-16, 3.3 for 2016-17 and 3 per cent for 2017-18
  • Rs 34,699 crore allocated for MNREGA scheme, focus will be on improving quality and effectiveness: Jaitley
  • Fiscal deficit target for 2016-17 will be 3.5 per cent and 3 per cent in 2017-18: FM
  • Make in India programme is aimed at raising share of manufacturing in GDP and creating jobs: FM
  • 11.5 crore LPG consumers transfered subsidy directly; Well-offs including MPs and Ministers will give up subsidised LPG voluntarily: FM
  • Some strategic disinvestments will happen besides disinvestment in loss making PSUs: FM.
  • Rs 25,000 crore allocated in 2015-16 for rural infrastructure development fund: FM
  • Govt to work towards creating universal social security system for all Indians, especially the poor: Jaitley
  • 8.5 lakh farm credit targeted in 2015-16: FM.
  • Govt proposes to create senior citizen welfare fund with unclaimed deposit of Rs 9000 crore in PPF/EPF schemes: Jaitley
  • Govt plans Jeevan Jyoti Beema Yojana under which Rs two lakh cover at a premium of Rs 330 per year will be provided to people aged between 18 and 50: FM.
  • Will bring comprehensive bankruptcy code: FM.

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