Budget 2015 : All you wants to know
This will be Jaitley's second annual budget, with the first one coming in the middle of the year after a major victory in the national elections for the Bharatiya Janata Party (BJP). In a way, the finance minister then had himself raised expectations from his second budget due Saturday
According to a preview by Karvy Stock Broking, Finance Minister Arun Jaitley will present the Union Budget 2015-16 on Feb 28, 2015 which is very crucial for channelizing the government’s resources to achieve the double digit economic growth rate under the leadership of Prime Minister Shri Narendra Modi.
For the previous interim budget presented on Jul 10, 2014 the Finance Minister could get only few weeks to prepare from the swearing in ceremony on May 26, 2014, this time for Union Budget 2015-16 there is ample time to consult various sections and arrive at the right framework as well as prioritize resource allocation in line with the government’s agenda to achieve double digit economic growth, while maintaining fiscal discipline.
GDP at constant prices (with new base 2011-12) for the year 2014-15 is estimated at Rs. 106.57 lakh crore as against the first revised estimate of GDP for the year 2013-14 at Rs 99.21 lakh crore. GDP growth during 2014-15 is estimated at 7.4% as compared to the growth of 6.9% during 2013-14.
In a more conducive policy environment and optimal allocation of resources in the budget GDP growth is expected to move to double digit in the coming years. Index of industrial production has seen a growth of 2.1% for the period Apr-Dec 2014 and is expected to improve sharply with the ‘Make in India’ campaign as well as increased allocation to capital spending.
Governments thrust on infrastructure projects like roads, railway network, ports and airports would spur industrial production as well as GDP growth.
There are many more sector's eyes on the Union Budget 2015, wich will be presented by Union Finance Minister Arun Jaitley on Saturday February 28.
