While a budget covers a plethora of items and heads, the mix can leave a lot of people confused. This budget is rendered all the more important as there are elections coming up in eight states this year and the Lok Sabha election next year, all of which put tough demands on the Finance Minister.
India is the world’s fastest-growing economy, said the Finance Minister as he announced the Budget. He lauded the govt’s moves to contain black money and encourage tax formalisation. Batting for GST, he said it ensured tax simplicity, demonetisation paved the way for a digital economy.
“When the Narendra Modi government took over, India was considered to be one of the fragile five economies of the world. Our government reversed the trend,” Jaitley said.