1. Finance Minister “Mr. Arun Jaitley” Presents Union
Budget 2015
Highlights of Jaitley's budget for the fiscal year that
begins on April 1.
FISCAL DEFICIT:
 Fiscal deficit seen at 3.9% of GDP in 2015-16.
 Will meet the challenging fiscal target of 4.1% of
GDP.
 Remain committed to meeting medium term fiscal
deficit target of 3% of GDP.
 Current account deficit below 1.3% of GDP.
 Jaitley says have to keep fiscal discipline in mind
despite need for higher investment.

2. GROWTH:
 GDP growth seen at between 8% and 8.5% (YoY)
 Aiming double digit growth rate, achievable soon
INFLATION:
 Expects consumer inflation to remain close to 5% by
March, opening room for more monetary policy
easing
 Monetary policy framework agreement with the RBI
clearly states objective of keeping inflation below
6%.

3. POLICY REFORMS:
 Propose to create a universal social security system
for all Indians
 Propose to merge commodities regulator with SEBI
 Allocates Rs346.99 billion for rural employment
guarantee scheme in 2015-16
 To bring a new bankruptcy code in 2015-16
 Jaitley says will move to amend the RBI act this
year, and provide for a monetary policy committee
 To set up public debt management agency
 To raise visa-on-arrival facility to 150 countries from
43
TAXATION
 Expects to implement goods and services tax by
April 2016.
 Plans to introduce direct tax regime that is
internationally competitive on rates without
exemptions.
 INFRASTRUCTURE:
 Investment in infrastructure will go up by 700 bln
rupees in 2015-16 over last year

4.  Plans to set up national investment infrastructure
fund
 Proposes tax-free infrastructure bonds for projects in
roads, rail and irrigation projects
 Proposes 5 'ultra mega' power projects for 4,000 MW
each
 Second unit of Kudankulam nuclear power station to
be commissioned in 2015/16
 Will need to build additional 100,000 km of road
 Ports in public sector will be encouraged to
corporatise under Companies Act
EXPENDITURE:
 If revenue improves, hope to raise budgeted
allocations for rural job scheme by Rs50 billion in
2015-16
INVESTMENT:
 Propose to do away with different types of foreign
investment and replace them with composite caps
 To allow foreign investment in alternative
investment funds

5. GOLD:
 To introduce gold monetisation scheme to allow
depositors to earn interest.
 To introduce Indian-made gold coin to reduce
demand for foreign gold coins.
SUBSIDIES:
 We are committed to subsidy rationalisation based
on cutting leakages
FINANCE MINISTER'S COMMENTS:
 'The world is predicting it's India's time to fly'
 'We inherited a sentiment of doom and gloom. The
investment community had almost written us off. We
have come a long way since then.'
 'We have turned around the economy, dramatically
restoring macroeconomic stability and creating the
conditions for sustainable poverty elimination, job
creation, durable double digit economic growth.'
 'While being mindful of the challenges ... this gives
us reason to feel optimistic.'
 'Domestic and international investors are seeing us
with renewed
interest and hope.'

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PLOT NO. 12, SCHEME NO. 78, PART II VIJAY
NAGAR INDORE 452001 (MP)