Jaitley takes a stand on the biggest controversies
- 5 years ago
After Finance Minister Arun Jaitley on Thursday presented the 2014-15 general budget, he said that his maiden budget was a vision statement that aimed at giving a fillip to infrastructure,
manufacturing and re-establishing confidence in the Indian economy.
Jaitley said that it's a directional budget. Jaitley sought to reassure investors by promising a stable tax regime and saying the government would not "ordinarily" create new liabilities retrospectively, but stopped short of moving to scrap the law.
The finance minister also said that he would uphold the fiscal deficit target for this year inherited from the last government - 4.1 percent of gross domestic product - despite expectations he would be forced to raise it due to weak revenue and high subsidy costs.
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manufacturing and re-establishing confidence in the Indian economy.
Jaitley said that it's a directional budget. Jaitley sought to reassure investors by promising a stable tax regime and saying the government would not "ordinarily" create new liabilities retrospectively, but stopped short of moving to scrap the law.
The finance minister also said that he would uphold the fiscal deficit target for this year inherited from the last government - 4.1 percent of gross domestic product - despite expectations he would be forced to raise it due to weak revenue and high subsidy costs.
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Connect with us on Social platform at : http://www.facebook.com/newsxonline
Subscribe to our YouTube Channel : http://www.youtube.com/newsxlive