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Union Budget is practical, pragmatic and prudent: PM Modi

New Delhi, Feb 28 (ANI): Prime Minister Narendra Modi on Friday said the Union Budget for 2015-16 is a budget with a clear vision, and one that is progressive, positive, practical, pragmatic and prudent. "Budget 2015 has a distinct focus on farmers, youth, poor, neo-middle class and the Aam Nagrik. It delivers on growth, equity and job creation," Prime Minister Modi tweeted. "Budget is investment friendly and removes all doubts on tax issues. It assures investors that we have a stable, predictable and fair tax system," he added. "From housing for all, jobs, health, education and total electrification, FM laid down goals to be achieved by 2022, India's Amrut Mahotsav ," he tweeted. Prime Minister Modi congratulated Jaitley for doing an excellent job in respecting the aspirations of the states and at the same time delivering on national priorities. Feb 28, 2015
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Union Budget 2015-16: Surcharge of 2% on super-rich replaces wealth tax

New Delhi, Feb 28 (ANI): Union Finance Minister Arun Jaitley while presenting the budget in the Lok Sabha on Saturday asked rich and wealthy to pay higher tax. Jaitley abolished the wealth tax but increased the surcharge to 2% on individuals earning Rs 1 crore and above annually and on firms with an annual income of Rs 10 crore or more. Feb 28, 2015
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Jaitley ends Union Budget with tax reforms, says NDA is round the clock govt

New Delhi, Feb 28 (ANI): Asserting that the Union Budget has historically become a significant opportunity to indicate the pace and direction of India's economic policy, Finance Minister Arun Jaitley on Saturday said the NDA-led by Prime Minister Narendra Modi is a 'round the clock, round the year government'. Presenting the NDA Government's first full-fledged budget in the Lok Sabha today, Jaitley turned lyrical and said that much more needs to be done for the improvement of Indian economy. He also introduced various tax reforms. Jaitley further said that his proposals, therefore, lay down the roadmap for accelerating growth, enhancing investment and passing on the benefit of the growth process to the common man, women, youth and child; those whose quality of life needs to be improved. Feb 28, 2015
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Market experts applaud Jaitley's Union Budget 2015-16, calls it a 'balanced budget'

New Delhi/Mumbai, Feb 28 (ANI): Market experts on Saturday applauded Finance Minister Arun Jaitley's Union budget 2015-16. Market Expert Sunil Shah said that it is a good budget and that Prime Minister Narendra Modi-led government has started to implement the promises they had made during the general elections. FICCI's Former President Sidharth Birla called it a 'balanced budget'. He added that the budget talked about less governance which will have good impact in the long run. Feb 28, 2015
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Union Budget 2015-16: Corporate Tax reduced from 30% to 25% for 4 years, says FM

New Delhi, Feb 28 (ANI): Union Finance Minister Arun Jaitley presented the General Budget for 2015-16 in Lok Sabha on Saturday. Aiming to up employment generation, Jaitley proposed the reduction of basic rate of corporate tax to 25% from current 30% over the next four years, accompanied by fewer exemptions. He further proposed to enact a comprehensive new law on black money to bring back black money stashed abroad. The budget estimates of expenditure announced by the government was 77 lakh crore, of which Non Plan was 13.12 lakh crores, and Plan was 4.65 lakh crores. PAN number quoting was made compulsory in the Union Budget for transactions for more than one lakh. Feb 28, 2015
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Congress reacts as Jaitley concludes General Budget for 2015-16

New Delhi, Feb 28 (ANI): Political leaders reacted as Union Finance Minister Arun Jaitley concluded the General Budget for 2015-16 in the Lok Sabha on Saturday. Kamal Nath said that the budget only gives relaxation to corporate and rich administrations. Ashwani Kumar, Mallikarjun Kharge and PC Chacko said that there was nothing new in the Union Budget worth praising. Chacko also added that the Finance Minister has only included some previous schemes set up by UPA but he should have acknowledged the previous government for that. Feb 28, 2015
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Union Budget 2015-16: FM announces more AIIMS, IIT and IIMs

New Delhi, Feb 28 (ANI): Union Finance Minister Arun Jaitley presented the General Budget for 2015-16 in Lok Sabha on Saturday. Jaitley said that the government is putting scam, scandal and corruption behind it and added the Parliament needs to look into a procurement law. Jaitley proposed to set-up an IT based student financial aid system under the PM Vidya Laxmi scheme to ensure that no student misses out on higher education due to lack of fund. He also proposed to set up All India Institute of Medical Sciences (AIIMS) in Jammu and Kashmir, Punjab, Tamil Nadu, Himachal and Assam. Keeping in view the need to augment medical services in Bihar, Jaitley proposed to set up another AIIMS like institution in the state. He further talked about setting up IIT in Karnataka and IIM in Jammu and Kashmir and Andhra Pradesh. Feb 28, 2015
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Govt to allocate Rs. 2,46,727 crores to defence sector

New Delhi, Feb 28 (ANI): Finance Minister Arun Jaitley, who is presenting the Union Budget for fiscal 2015-16 in the Lok Sabha said that the Prime Minister Narendra Modi-led government would allocate Rs. 2, 46, 727 crores in the defence sector. Jaitley said in his budget speech that the government is following a policy of transparency and quick decision-making in procurement to keep the defence forces prepared for any eventuality. Feb 28, 2015
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Union Ministers welcome General Budget

New Delhi, Feb 28 (ANI): Cabinet ministers reacted as Union Finance Minister Arun Jaitley concluded the General Budget for 2015-16 in the Lok Sabha on Saturday. Minister of State for Parliamentary Affairs Mukhtar Abbas Naqvi said that the budget will see long impending impacts. Environment Minister Prakash Javadekar said that it is a welcome budget as it has much in store for the common man. Railway Minister Suresh Prabhu said that Jaitley has given an appropriate budget keeping in mind the well-being of all citizens. Transport Minister Nitin Gadkari said that first time in history the budget has given emphasis on infrastructure. HRD Minister Smriti Irani said that the budget has given importance to education and girl child, which is appreciable. Meanwhile, Law Minister Ravi Shankar Prasad said that the budget is meant to be in support of the poor and underprivileged. Feb 28, 2015
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