No flashy dismantling of woodwork but a gradual hard dribble to the net was how finance minister Arun Jaitley chose to get India's slowing economy finds its goal of higher growth and more jobs. He chose fiscal prudence over grand schemes delivering a strong message in his much-awaited maiden budget. Jaitley's budget clearly brings out the fact that India's economy needs an overhaul after sputtering over haywire prices, low investment and a precarious fiscal situation. The finance minister reiterated the government's commitment to walk the talk on fiscal discipline pledging to keep the fiscal deficit at 4.1% of GDP.
There were also bold reformist intent in abundance in his speech. He promised to ease foreign investment caps in the defence and insurance sector, which have been hobbled by lack of capital.
He laid out a roadmap for reforming India's subsidy regime to make it more efficient, and sounded confident that India will be able to roll out its most ambitious tax reform-- a nation-wide goods and services tax.
The Bharatiya Janata Party's (BJP's) 's) 3D view— demography, democracy, and demand—is d—is an encapsulation of India's current problems. The solutions, however, are far more complex than a catchy alliteration. Demand—for goods and services—is vices— is a function of money and income.
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There were also bold reformist intent in abundance in his speech. He promised to ease foreign investment caps in the defence and insurance sector, which have been hobbled by lack of capital.
He laid out a roadmap for reforming India's subsidy regime to make it more efficient, and sounded confident that India will be able to roll out its most ambitious tax reform-- a nation-wide goods and services tax.
The Bharatiya Janata Party's (BJP's) 's) 3D view— demography, democracy, and demand—is d—is an encapsulation of India's current problems. The solutions, however, are far more complex than a catchy alliteration. Demand—for goods and services—is vices— is a function of money and income.
For More information on this news visit: http://www.itvnewsindia.com/
For More information on this news, visit: http://www.itvnewsindia.com/hindi
Connect with us on Social platform at: http://www.facebook.com/IndiaNewsTV
Subscribe to our You Tube channel: https://www.youtube.com/user/itvnewsindia
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