Union Finance Minister Arun Jaitley presented his third budget, and his big ticket reforms focused primarily on the rural and farm sectors, providing relief for farmers under distress. The finance minister said implementing the 7th Pay commission recommendations as well as the OROP will be a considerable burden on the treasury. He also announced moves to improve infrastructure across segment, including reviving under-utilised airports
“I am presenting this Budget when the global economy is in serious crisis. Global growth has slowed down from 3.4% in 2014 to 3.1% in 2015.Financial markets have been battered and global trade has contracted.Amidst all these global headwinds, the Indianeconomy has held its groundfirmly. Thanks to our inherent strengths and the policies of this Government,a lot of confidence and hope continues to be built around India.
Read the full text of Arun Jaitley’s second full budget below.