Finance minister Arun Jaitley presented the Union Budget 2017-18 in the Lok Sabha today. Here are the highlights of the Union Budget:
1. India stands out as a bright spot amid world economic gloom.
2. Our focus will be on energising youth to reap benefits of growth and employment.
3. IMF estimates world GDP will grow by 3.4 per cent in 2017.
4. Oil prices, rising dollar and volatile commodity prices seen as risks to Indian economy.
5. India is seen as engine of global growth, have witnessed historic reform in last one year.
6. Demonetisation is a bold and decisive measure, for many decades tax evasion was a way of life for many.
7. Note ban is expected to have only a transient impact on economy.
8. I am reminded of what our father of the nation Mahatma Gandhi said: "A right cause never fails".
9. The pace of remonetisation has picked up.
10. Effects of demonetisation not expected to spill over to next year.
11. Budget preponement to February 1 will give sufficient time to departments to implement government schemes.
12. Our Budget agenda is - transform, energise and clean India - TEC India.
13. Our approach in preparing the Budget is to spend more on rural areas, infrastructure and poverty alleviation with fiscal prudence.
14. Agriculture sector is expected to grow at 4.6%, agriculture expenditure targeted at Rs 10 lakh crore.
15. 36% increase in FDI flow; forex reserves at