Page 15 - MASTER IN BUDGET
P. 15
Key Features of Budget
2016 - 2017
INTRODUCTION
# Growth of Economy accelerated to 7.6% in 2015-16.
# India hailed as a ‘bright spot’ amidst a slowing global economy by IMF.
# Robust growth achieved despite very unfavourable global conditions and
twoconsecutive years shortfall in monsoon by 13%
# Foreign exchange reserves touched highest ever level of about 350 billion US dollars.
# Despite increased devolution to States by 55% as a result of the 14th Finance
Commission award, plan expenditure increased at RE stage in 2015-16 – in contrast
to earlier years.
CHALLENGES IN 2016-17
# Risks of further global slowdown and turbulence.
# Additional iscal burden due to 7th Central Pay Commission recommendations and
OROP.
ROADMAP & PRIORITIES
# 'Transform India' to have a signiicant impact on economy and lives of people.
# Government to focus on –
ensuring macro-economic stability and prudent iscal management.
boosting on domestic demand
continuing with the pace of economic reforms and policy initiatives to change
the lives of our people for the better.
# Focus on enhancing expenditure in priority areas of - farm and rural sector, social
sector, infrastructure sector employment generation and recapitalisation of the
banks.
# Focus on Vulnerable sections through:
Pradhan Mantri Fasal Bima Yojana
New health insurance scheme to protect against hospitalisation expenditure
facility of cooking gas connection for BPL families
# Continue with the ongoing reform programme and ensure passage of the Goods and
Service Tax bill and Insolvency and Bankruptcy law
# Undertake important reforms by:
giving a statutory backing to AADHAR platform to ensure beneits reach the
deserving.
freeing the transport sector from constraints and restrictions
@Mahendra’s 15 MASTER IN BUDGET 2016-17
2016 - 2017
INTRODUCTION
# Growth of Economy accelerated to 7.6% in 2015-16.
# India hailed as a ‘bright spot’ amidst a slowing global economy by IMF.
# Robust growth achieved despite very unfavourable global conditions and
twoconsecutive years shortfall in monsoon by 13%
# Foreign exchange reserves touched highest ever level of about 350 billion US dollars.
# Despite increased devolution to States by 55% as a result of the 14th Finance
Commission award, plan expenditure increased at RE stage in 2015-16 – in contrast
to earlier years.
CHALLENGES IN 2016-17
# Risks of further global slowdown and turbulence.
# Additional iscal burden due to 7th Central Pay Commission recommendations and
OROP.
ROADMAP & PRIORITIES
# 'Transform India' to have a signiicant impact on economy and lives of people.
# Government to focus on –
ensuring macro-economic stability and prudent iscal management.
boosting on domestic demand
continuing with the pace of economic reforms and policy initiatives to change
the lives of our people for the better.
# Focus on enhancing expenditure in priority areas of - farm and rural sector, social
sector, infrastructure sector employment generation and recapitalisation of the
banks.
# Focus on Vulnerable sections through:
Pradhan Mantri Fasal Bima Yojana
New health insurance scheme to protect against hospitalisation expenditure
facility of cooking gas connection for BPL families
# Continue with the ongoing reform programme and ensure passage of the Goods and
Service Tax bill and Insolvency and Bankruptcy law
# Undertake important reforms by:
giving a statutory backing to AADHAR platform to ensure beneits reach the
deserving.
freeing the transport sector from constraints and restrictions
@Mahendra’s 15 MASTER IN BUDGET 2016-17