Updated: July 10, 2014 6:47:43 pm
Finance Minister Arun Jaitley presented his maiden budget of the BJP-led NDA government amid high expectations from common man to macro business players of the country. Jailetly in his budget left income tax rates unchanged while promising not to bring tax changes with retrospective effect.
Here’s the full text of the speech:
I rise to present the Budget for the year 2014-15.
I. STATE OF THE ECONOMY
2. The people of India have decisively voted for a change. The verdict represents the exasperation of the people with the status-quo. India unhesitatingly desires to grow. Those living below the poverty line are anxious to free themselves from the curse of poverty. Those who have got an opportunity to emerge from the difficult challenges have become aspirational. They now want to be a part of the neo middle class. Their next generation has the hunger to use the opportunity that society provides for them. Slow decision making has resulted in a loss of opportunity. Two years of sub five per cent growth in the Indian economy has resulted in a challenging situation. We look forward to lower levels of inflation as compared to the days of double digit rates of food inflation in the last two years. The country is in no mood to suffer unemployment, inadequate basic amenities, lack of infrastructure and apathetic governance.
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