NEW DELHI : The Union Budget presented by Finance Minister Arun Jaitley in the Lok Sabha today announced various social security and welfare schemes for the aam aadmi (common man) besides a raft of measures to give a push to ‘Make in India’ and Clean India programmes.
Mr Jaitley also announced more finances for states, asking them to increase their spending on the social sector. Special tax exemptions were provided to middle class and senior citizens.
He said the decline in inflation and growth recovery made possible due to the various steps taken by the government in the last nine months had given it confidence to take bold and generous
measures for improving the life of the common man. To ensure the ease of doing business and boosting investment, the Finance Minister announced various steps including a stable and simplified tax regime.
He reduced corporate tax from the present 30 per cent to 25 per cent and said the GST, to be introduced in 2016, will play a transformative role on the way business was done in the country from next financial year.
(AGENCIES)
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