VCCEDGE TECHCIRCLE BIZCIRCLE EVENTS … to...22nd Jan, 2016, Hyatt Regency, Mumbai Techcircle India...
Transcript of VCCEDGE TECHCIRCLE BIZCIRCLE EVENTS … to...22nd Jan, 2016, Hyatt Regency, Mumbai Techcircle India...
1/15/2016 Govt to present 201617 budget on Feb 29 | VCCircle
http://www.vccircle.com/news/economy/2016/01/14/govtpresent201617budgetfeb29 1/5
SUBSCRIBELOGIN
Thursday, January 14, 2016 19:11 IST
Govt to present 201617 budget on Feb 29Fiscal deficit to be main concern in the budget.BY ISHAAN GERA
Finance Minister Arun Jaitley will presentthe general budget for 201617 on February29, minister of state for finance JayantSinha said on Thursday. This will be thethird budget of the Narendra Modiledgovernment since coming to power in 2014and the second fullterm budget.
Jaitley presented a more realistic budgetlast year with not much in terms of bigbang reforms. This year, the markets andanalysts will be watching how the finance
HOME >> OTHER >>
Enter email for free Newsletter Subscribe
Advertisement
DEALS CONSUMER FINANCE HEALTHCARE INFRASTRUCTURE MANUFACTURING TMT VCCTV RECAP 2015
Reuters
Show
Enter Keyword ... Search ABOUT VCCEDGE TECHCIRCLE BIZCIRCLE EVENTS TRAINING AWARDS MOBILE APPS
CAREERS
1/15/2016 Govt to present 201617 budget on Feb 29 | VCCircle
http://www.vccircle.com/news/economy/2016/01/14/govtpresent201617budgetfeb29 2/5
minister balances the constraints to thefiscal deficit from the seventh paycommission’s recommendations on wagehikes for central government employees andthe government’s approval to the onerank,onepension plan for defence personnel.
The markets will also be expecting a morerational divestment agenda. While thegovernment had announced plans to raiseRs 68,500 crore from disinvestment in thecurrent fiscal year, it has achieved just onefifth of the target so far.
The finance minister has already starteddiscussions with economists, trade unions
and IT sectors and will cover more industries in the runup to the budget.
The major concern in this budget is about revising the fiscal deficit target. While thegovernment is widely expected to meet its target for 201516, set at 3.9 per cent of GDP,there is less optimism about the next year’s goal of 3.5 per cent.
“This will be make or break, in terms of rationalization of expenditure and allocation to keysectors. While the government may deviate due to elections in some of the key states, thebudget as was last year will be more realistic as the government lacks the fiscal space toplay much with expenditure,” said Arun Singh, senior economist at Dun and Bradstreet.
A change in the fiscal deficit target will not only be a loss of face for the government but willalso defer further easing of monetary policy. This is because a rate cut from the central bankis predicated on the government’s fiscal consolidation roadmap.
“They may not be very aggressive to take the fiscal deficit to 3.5 per cent, they may retainit at 3.83.9 per cent. They are aware of the fact that the government is the only entity topush forward spending, so whatever could not be completed this year may be taken up inthe next,” said Madan Sabnavis, chief economist at CARE ratings.
Arun Jaitley, Finance Minister
1/15/2016 Govt to present 201617 budget on Feb 29 | VCCircle
http://www.vccircle.com/news/economy/2016/01/14/govtpresent201617budgetfeb29 3/5
Comments 0
Tags: Arun Jaitley
POST NEW COMMENT
Your name
Comment *
Submit
3Like
0 Comments Sort by
Facebook Comments Plugin
Oldest
Add a comment...
India Loyalty Conclave 201622nd Jan, 2016, Hyatt Regency,Mumbai
Techcircle India EcommerceSummit 201610th 11th Feb, 2016, The Westin,Gurgaon
VCCircle India LimitedPartners Summit 20169th 10th Mar, 2016, Taj LandsEnd, Mumbai
VCCircle Awards 20169th Mar, 2016, Taj Lands End,
UPCOMING EVENTS
1/15/2016 Govt to present 201617 budget on Feb 29 | VCCircle
http://www.vccircle.com/news/economy/2016/01/14/govtpresent201617budgetfeb29 4/5
View all »JOBS
2 Positions For VP With 57 Years OfRelevant Experience In M&A; 2Positions For AVP With 34 Years OfRelevant Experience In M&A SteerAdvisory Services Pvt Ltd
chinetwork
Be the first of your friends to like this
VCCIRCLE10k likesLike Page
1/15/2016 Govt to present 201617 budget on Feb 29 | VCCircle
http://www.vccircle.com/news/economy/2016/01/14/govtpresent201617budgetfeb29 5/5
Social fitness app Fitso gets $200K from @jugnoose CEO, others bit.ly/1RJiCS0 #funding pic.twitter.com/ijE9hxghHh
Retweeted by FITSO
VCCircle.com @vccircle
1h
Tweets
Compose new Tweet…
ChannelsDeals
Consumer
Finance
Healthcare
Infrastructure
Manufacturing
TMT
VCCTV
Recap 2015
SectionsInterviews
Columns
Blogs
Press Releases
AboutAbout Us
Advertise with us
Careers
Terms of Use
Copyright
Privacy
Contact
ProductsVCCEdge
Techcircle
Bizcircle
Events
Training
Mobile Apps
News Corp CompaniesProptiger
Bigdecisions.com
Makaan.com
WSJ
MarketWatch
Mansion Global
Realtor
Copyright © 2015 VCCircle.com. Property of Mosaic Media Ventures Pvt Ltd. A company