Jaitley says Budget proposals for 2014-15 directional, lays out a roadmap: Jaitley

Union Finance Minister Arun Jaitley on Thursday said his maiden budget, which he presented in Parliament; is a directional one, and added that the government has laid out a roadmap for the Indian economy.

"It is a directional budget, we have laid down a roadmap," said Jaitley in an exclusive interview with ANI's Editor (News) Smita Prakash.

On being asked whether he had any room for maneuverability, Jaitley said, "In terms of policy, it was unlimited. In terms of money, it was limited. When I say in terms of policy it was unlimited, there were a lot of items which were left behind, which the UPA Government could not decide. There were some issues, like taxation, which were complicated by the UPA. There were certain new ideas which came."

"Therefore in the first part of my speech, I had indicated that these are all directional changes. And, they are in the direction to take us back to the eight percent growth bar," he added.

As far as certain schemes are concerned, Jaitley said told ANI that the government has come up with ideas according to ideology, philosophy and manifesto.

On taxation, Jaitley said, "As far as taxation is concerned, more reasonable rates of taxation. If manufacture is not growing, give them some incentives and make them competitive. Higher slabs won't do, a larger base will be better. Therefore, more reasonable taxation in order to revive manufacture and growth. A taxation administrative structure which reposes confidence."

He said that he wished he could have done more for the common taxpayer, and said, "I have gone in that direction which I think is the correct direction and the beginning of the journey." (ANI)

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