Arun Jaitley Speaks at Post-Budget Press Conference: Highlights

Finance Minister Arun Jaitley speaks at a press conference post presenting the Union Budget 2015.

Highlights of his speech the presser:

• I am sure all states will take the budget in the right spirit and contribute towards nation building.
• We really have to cut down a very large part of the public spending.
• We found the right balance to reach the fiscal deficit target of 3% in 2 years, instead of 3, and we stuck to that note.
• Public spending on infrastructure has been increased, notwithstanding the squeezing on fiscal space.
• We had to concentrate on manufacturing and on correcting inverted duty structures.
• We brought a paradigm shift in the thinking to the extent that we need to introduce ideas of social security in the system.
• I appeal to the more affluent ones to relinquish subsidies, because they are not entitled to it.
• Many people have told me you must have a big bang idea. I have asked them to suggest one.
• If there is development, the middle class will also benefit. If you see the relief that has been given to middle class tax payers in this budget and the last one, don't think they've been given that in past 68 budgets.
• Our approach has been to encourage the middle-class to save.