Monday, February 29, 2016
Aim to work on passage of GST, Bankruptcy Code
* Indian econ still bright spot despite challenges

* GDP grew notwithstanding global meltdown

* India GDP has accelerated to 7.6% now

* India's external situation is robust

* Must carry out reforms

* Must have prudent fisc policy, up domestic demand

* Pay panel, defence pension to add to spending in FY17

* FY16, FY17 will be extremely challenging for govt spend

* Must continue with pace of reforms

* Must ensure growth does not slow down

* Must ensure macro-economic stability

* Strengthened firewalls against global risks

* Plan spend increased under FY16 revised estimates

* Risk of global slowdown is mounting

* Money with govt belongs to people

* We had to work in unsupported global environment

* Forex reserves highest ever at $350 bln

* Foreign exchange reserves are at highest ever level

* FY16 CAD projected at 1.4% of GDP

* To make significant changes in FDI policy

* To incentivise gas exploration

* Aim to work on passage of GST, Bankruptcy Code

* FY17 priority to give additional resources to rural areas

* Need to provide for bank recapitalisation

* Must prioritise spending in FY17

* Managed to improve FY16 fincl condition on revenue buoyancy

* Infra invest to enhance quality of life

* To have prudent mgmt of govt expenses for fiscal prudence

* To focus on tax reforms

* To undertake tax reform to improve compliance

* To focus on prudent mgmt of govt finance

* To focus on governance, ease of doing business

* To focus on infra investment

* To provide dispute resolution for PPP platform

* Allotted 90 bln rupees for Swachh Bharat mission

* Allotted 1.5 bln rupee for land record digitalisation FY17

* 7.5 mln households gave up LPG subsidy

* Jaitley sits down, continues Budget speech

* 1 bln rupees for birth anniversary of Guru Gobind Singh

* 1 bln rupees for birth anniversary of Deen Dayal Upadhyay

* Interim provision made for pay panel suggestions execution

* Committed to fincl requirements of announced econ packages

* Made interim provision for seventh pay panel

* To up MSME category turnover cap to 20 mln rupees

* To drive towards self-sufficiency in hydrocarbon sector

* Jaitley stands up, continues Budget speech


* To have fiscal deficit target range

* FY17 fiscal deficit target at 3.5% of GDP

* FY16 fiscal deficit pegged at 3.9% of GDP

* Prudence lies in adhering to fiscal targets


* FY16 revenue deficit 2.5% of GDP

* Ensured development agenda is not compromised


* FY17 total expenditure 19.78 trln rupee

* FY17 total spend at 19.78 trln rupees

* FY17 non-plan expenditure 14.3 trln rupees

* FY17 plan expenditure 5.5 trln rupee

* Total resources to states in FY17 at 996 bln rupees

* To scrap plan, non-plan expenditure distinction

* To do away with plan, non-plan classification of spending

* Plan allocation to stress on rural, infra, social sectors

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