How Budget 2015 will help India attain its full potential.pdf
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Transcript of How Budget 2015 will help India attain its full potential.pdf
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Print | Clo
M VENKAIAH NAIDU @mvenkaiahnaidu
MONEY | 2-minute read | 01-03-2015
The general Budget for 2015-16 presented by finance Minister Arun Jaitley was the first full year Budget presented by our government. It offered a
clinical analysis of the legacy of the deficit in respect of very critical areas of
economy inherited by our government.
Further, it contained a bold statement of the road ahead for converting the
"recovering national economy" to a "surging economy". The major deficit
that our government inherited spanned over infrastructure, transparentgovernance, stable policy framework, management of public finances, etc. A
sincere effort has been made to address these concerns with a clear
articulation of the approaches in the years ahead.
The Budget has been formulated in the context of historical devolution of
financial resources to the states. Further to the recommendations of the 14th
How Budget 2015 will help India attain its fullpotential
Union minister M Venkaiah Naidu gives his take on the Budget.
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Writer
Finance Commission, devolution of divisible tax revenues has been increase
by a whopping and unprecedented 10 per cent which resulted in the fiscal
scope of the central government by that much.
But still, the Plan Expenditure for 2015-16 has been retained at the level of
the Revised Plan Outlay for 2014-15. This Budget ensures social security tothe poor and vulnerable sections of people.
Concrete measures to address infrastructure deficit, curb generation of black
money, putting in place an enabling regulatory mechanism to enhance ease
of doing business and to make PPP model a success, promoting innovation,
public debt management, pragmatic fiscal consolidation, spreading JAM
(Jan Dhan, Aadhaar and Mobile technology) for efficient delivery of subsidies, rationalisation of taxes, widening social security net etc.,
strengthening social infrastructure etc. are all aimed at achieving the twin
objectives of rapid economic development with a human face.
Urban areas are the engines of economic growth. Building smart cities,
empowering 500 cities with essential urban infrastructure and housing for
all urban poor are set to take off soon.
Further to what Prime Minister Narendra Modi has articulated over the last
nine months and the initiatives taken by our government, the Budget marks
the beginning of a full-fledged journey of the people and the national
economy unleashing its full potential to attain our due in the global scheme
of things. India's steady journey has begun.
#Economic Reforms, #Economy , #BJP, #Narendra Modi,
The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official
policy or position of DailyO.in or the India Today Group. The writers are solely responsible for any claims arising out
of the contents of this article.
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M VENKAIAH NAIDU @mvenkaiahnaidu
The writer is minister of urban development,
housing & urban poverty alleviation and
parliamentary affairs.
URL of this article: http://www.dailyo.in/business/budget-2015-india-growth-arun-jaitley-narendra-modi- venkaiah-naidu/story/1/2321.html
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