Jaitley reiterates focus on economic growth

Arun Jaitley started the budget speech emphasizing on the reforms and stressed on ease of doing business and announced that the government is now moving on to ease of living to enhance the life of every India. At 11:10 hours, BSE Sensex was at 36,137.28, up 172.26 or 0.48 per cent on Thursday. 

This budget is considered to be crucial for the government with the Loksabha elections scheduled in 2019. The major task for the government is to keep the general sentiment positive, while the nation goes to the polls.

India’s demographic dividend makes it the youngest country in the world. Further, the current NDA government now control 18 states in the country at state government level. More than 68 per cent of the total population resides in these 18 states, which bodes well for taking benefit of the demographic dividend of the country. Considering this government will try to promote more consumer-centric policies.

Finance Minister Arun Jaitley in his budget speech stated that demonetisation has increased the tax base and prompted greater digital transaction in the country. Further, he stated that the Indian economy is now 2.5 trillion dollar economy and expected to become the fifth largest economy very soon. He also mentioned that IMF has projected that India will grow at 7.4 per cent next year. Exports are expected to grow at 15 per cent in 2017-18. India’s exports are expected to report a 15 per cent growth this fiscal year and the economy is expected to grow at more than 7 per cent next fiscal.