NEW DELHI: Double digit inflation has been controlled; sluggish
growth replaced by high growth; war on blackmoney launched said FM.
More steps will be taken to benefit farmers and the
weaker sections; budget being presented during weak global economy says FM.
Monetary policy to be expansionary in major economies said FM.
Uncertainty around commodity prices especially oil to have
impact on emerging economies said FM.
India has emerged as bright spot in the world said FM.
CAD declined from 1 pc last year to 0.3 pc in first half
of current fiscal said FM.
Protectionism is increasing, says Jaitley.
36 pc increase in FDI flow; forex reserves at USD 361
billion in January enough to cover 12 months needs says FM.
We are seen as engine of global growth; IMF sees India to
grow fastest in major economies said FM.
Demonetisation was a continuation of series of measures
taken by govt in 2 yrs; it is bold and decisive measure said FM.
Govt took two tectonic policy initiatives – passage of
GST Bill and demonetisation said Jaitley.
Effects of demonetisation not expected to spill over to
the next year, says Finance Minister.
GDP will be bigger, cleaner after demonetisation said FM.
Only transient impact on economy due to demonetisation;
long term benefit include higher GDP growth and tax revenue says FM.
Merger of Railways Budget with General Budget brings
focus on a multi-modal approach for development of railways, highways and inland water transport said FM.
Demonetisation will help in transfer of resources from
tax evaders to government said Jaitley.
Functional autonomy of the railways to be maintained,
says Jaitley.
Pace of remonetisation has picked up; demonetisation
effects will not spill over to next year said FM. (agencies)
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