(Report) UPSC : Key Features of Budget 2015-2016

(Report) UPSC : Key Features of Budget 2015-2016

INTRODUCTION :

• Credibility of Indian economy has been re-established in the last nine months.
• Indian economy about to take-off on a fast growth trajectory.
• Most growth forecasts have upgraded Indian economic growth while downgrading global economic growth.
• Economically empowered States are equal partners to Indian economic growth.
• Round the clock, round the year Government to pursue accelerated growth, enhanced investment for the benefit of all Indians.
• After inheriting an economy with sentiments of “doom and gloom” with adverse macro-economic indicators, nine months have seen at turn around, making India fastest growing large economy in the World with a real GDP growth expected to be 7.4% (New Series).
• Stock market - Second best performing in 2014.
• Macro-economic stability and conditions for sustainable poverty alleviation, job creation and durable double digit economic growth have been achieved.
• Restored the trust of the people on the Government by delivering on different areas.

Three Key achievements:

• Financial Inclusion - 12.5 crores families financially mainstreamed in 100 days.
• Transparent Coal Block auctions to augment resources of the States.
• Swachh Bharat is not only a programme to improve hygiene and cleanliness but has become a movement to regenerate India.
• Game changing reforms on the anvil:
• ♦ Goods and Service Tax (GST)
• ♦ Jan Dhan, Aadhar and Mobile (JAM) - for direct benefit transfer.
• STATE OF ECONOMY
• Inflation
• Inflation declined - a structural shift
• CPI inflation projected at 5% by the end of the year, consequently, easing of monetary policy.

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