9 years ago
The government unveiled a fire-fighting Budget on Monday that seeks to win back support among rural voters.
"We have a shared responsibility to spend prudently and wisely for the people, especially for the poor and downtrodden," Finance Minister Arun Jaitley told lawmakers in his 100-minute Budget address.
Watch Prannoy Roy's analysis of the Modi government's 'pro-poor' budget which Dr Manmohan Singh says is a "mixed bag with no big idea", but is upheld b y many as "transformational".
Feb 29, 2016 21:18 (IST)
All in all, it is a transformational Budget on the back of which 125 crore aspirations can be made: Piyush Goyal, Minister of State, Power, Coal, New and Renewable Energy
- In my view good economics and good politics are not divorced from each other.
- But power sector has not asked for more money. In effect we give money back to the Finance Minister.
- More than satisfied with the investment in power sector. In my mind my sector can stand on its own feet.
- India running one of the largest renewable energy programmes. Five times the size of the previous government's commitment 175 Gigawatts.
Feb 29, 2016 21:11 (IST)
Feb 29, 2016 21:11 (IST)
Minister of State, Finance Jayant Sinha on how you can save the tax on the Provident Fund corpus, 60 per cent of which is now taxable under the new Budget
- First of all I want to explain this is prospective. In 15-20 years if you withdraw the money and put in an annuity, the income from that won't be taxable.
- Let's say you have Rs 100 in your PF account. You take our Rs 40, which is tax-free, the Rs 60 which is to be taxed can be invested in an annuity and the income from it will be tax-free. So essentially, you will not have to pay any taxes on your PF money.
Feb 29, 2016 20:53 (IST)
Feb 29, 2016 20:52 (IST)
We have said that our philosophy is to transform India with Sab Ka Saath, Sab Ka Vikaas: Jayant Sinha, Minister of State for Finance
- Our economic Philosophy is very clearly articulated.
- Prime Minister in his landmark speech in 2014 had said that our government is that of the poor.
- What we have really tried to do in this and the previous budget is to provide impetus for both the rural economy and the globalised urbanised economy.
- We are really making sure that we have enough for the modern economy - Startup India, Make In India.
Feb 29, 2016 20:46 (IST)
This budget is an out and out political budget: Congress leader Sachin Pilot
- The way I see it, this government has two more budgets left before their promise of 'Achhe Din' delivered.
- They have realised that if they don't look like being pro-poor, they will be booted out.
Advertisement
Feb 29, 2016 20:41 (IST)
Budget full of platitudes, doesn't inspire growth: Anand Sharma, Deputy Leader of Opposition in Rajya Sabha
Feb 29, 2016 20:38 (IST)
Advertisement
Feb 29, 2016 20:33 (IST)
Don't think farmers' incomes can be doubled in 5 years: Praful Patel, Rajya Sabha MP and NCP leader
- Maximum emphasis was on agriculture and rural economy.
- Very surprised that they expect farm incomes to double in 5 years. Don't think it can be done.
- Mind you irrigation is a state subject. There are N number of problems.
- Farmer interest intervention is nothing new.
- Not saying what is being provided is wrong, question is the amount.
Feb 29, 2016 20:23 (IST)
A very good budget from the growth point of view of the Economy: Yashwant Sinha, Former Finance Minister
- During Vajpayee regime we followed a certain model for economic growth. That was to create demand for investment goods, then marshal supply.
- The Finance Minister has indeed concentrated on the right sectors and is going to spend massive amounts of money on roads and railways.
- He has introduced useful tax exemptions.
- This will create employment opportunities.
- It is a win-win from all points of view.
Advertisement
Feb 29, 2016 20:17 (IST)
Feb 29, 2016 20:10 (IST)
Saving the Banks - India's biggest problem are bad debts or non-performing assets
Advertisement
Feb 29, 2016 20:08 (IST)
The 9 pillars of Arun Jaitely's Budget
- Agriculture and farmer welfare
- Rural infrastructure
- Education
- Fiscal Discipline
- Tax reforms
- Governance, ease of doing business
- Enhance quality of life
- Massive investment in road, power, transport
- Infrastructure and Investment
