India Budget 2015 | India Writes

Budget 2015 reactions: Clear Vision, Making India story shine

February 28, 2015 - by India Writes Network

The maiden budget presented India’s Finance Minister Arun Jaitley on February 28 has elicited a largely positive response from leading politicians, industrialists and global investors. Prime Minister Narendra Modi described Budget 2015 as “a Budget with a clear vision.” “It is a Budget that is progressive, positive, practical, pragmatic & prudent,” he said. Mr Jaitely said that it’s time for India to fly. Can India fly? Here are a spectrum of reactions on India’s Budget 2015:
Rajnath Singh, Home Minister: “It will play an important role in the formation of modern India and it will help eliminate poverty and unemployment.”
Mallikarjun Kharge, Congress: “It is just a vision document, a Budget in interest of corporates and industrialists.”

Budget 2015: It’s time for India to fly, new steps to rev up economy

February 28, 2015 - by India Writes Network

With the “world predicting that it is India’s chance to fly,” India’s Finance Minister Arun Jaitley unveiled his first full-spectrum budget that seeks to make India a manufacturing hub and announced a host of policy changes and targets to revitalise Asia’s third largest economy. These include the reduction of corporate tax from 30% to 25% over the next four years, visa on arrival to 150 countries, 46,727 crore (around $8 billion) increase in defence spending, a comprehensive new law to bring back black money stashed abroad, and the setting up of new IIT, IIMs, AIIMS.
Underlining that India is going to take off on a faster growth trajectory, Mr Jaitely presented a robust picture of the India growth story in months to come. “While global growth forecasts have come down, India’s forecasts have either been maintained or scaled up,” Mr Jaitley said in his Budget speech on February 28.
Mr Jaitely reinforced his government’s commitment to greater fiscal consolidation, saying that he will be able to meet the stated 4.1 per cent fiscal deficit target for the current fiscal year.