Highlights of Union Budget-II

Finance Minister Arun Jaitley is presenting the Union Budget for financial year 2017-18.

Highlights of the Union Budget are as follows:

Union Budget, Arun Jaitley, BJP, NDA, Economy

• Demonetisation seeks to create a new normal, it will only have a transient impact.

• Demonetisation seeks to create a GDP which is bigger, cleaner and real.

• Amidst all these challenges, India stands out as a bright spot; current monetary stance of US federal reserve, uncertainty around commodity prices especially crude oil, increasing signs of retreat from globalisation goods as pressure of protectionism build up.

• My approach to this Budget - spend more but keep fiscal position in mind.

• Goal is poverty alleviation but with fiscal prudence.

• Effects of demonetisation are not expected to spill over to next year.

• Merger of Rail Budget a historic step, the autonomy of Railways will be maintained.

• Our Budget agenda is - transform, energise and clean India.

• Target of agricultural loans to farmers set at record Rs 10 lakh crore in 2017-18.

• A dedicated fund worth Rs 5,000 crore to be set up for micro-irrigation under Nabard.