New Delhi: Finance Minister Arun Jaitley on Monday presented Union Budget 2016 in the Lok Sabha amid concerns over stagnating growth, the state of government finances and stuttering pace of reforms.
“I am presenting the budget when the global economy is in crisis,” Jaitley said in his opening remarks, adding that India, however, remained the bright spot in this gloom, turning difficulties into opportunities.
(Also read: Budget 2016: Mid-Term Full overview of Modi Government )
India’s growth has expanded 7.5%, despite slowdown in exports, even as inflation had eased, bringing big relief to the general public, Jaitley said.
Let’s have a look at the top quotes said by Jaitley:
1. 100% FDI in marketing of food products made in India.
2. Government will pay employees pension funds for the first 3 years for unskilled persons.
3. We will look at three pillars in right earnest: A prudent fiscal policy, raise domestic demand and carry out reforms.
4. Recapitalisation of banks also to be done during next fiscal year.
5. A unified agriculture platform to be dedicated to the nation on the birth anniversary of Dr. B.R. Amebdkar.
6. Entrepreneurs will be able to operate bus in several routes with greater public convenience along with creation of new jobs.
7. Money with the government belongs to people and we have it for our people.
8. RBI Act to be amended to provide for monetary policy panel.
9. Double the income of famers by 2022 under Pradhanmantri Krishi Sichai Yojana.
10. Forex level highest ever.