Union Finance Minister Arun Jaitley will present the first full-year budget of Narendra Modi government in Parliament on Saturday. The Narendra Modi-led government in the centre presented the interim budget last year in July. Though the Union Budget 2014 was dubbed as pro-people and the policies were termed as realistic and not populist, the budget failed to live up to the hype created around it was astounding.
Presenting the Economic Survey 2015-16 in the Lok Sabha on Friday, Finance Minister Arun Jaitley said, “India has reached a sweet spot and there is scope for Big Bang reforms now.” There are high expectations from the BJP-led NDA government’s first full-fledged budget in the centre. After winning the 2014 Lok Sabha Elections with a thumping majority, the expectations from the Modi government has only sky-rocketed. (Also Read: Union Budget expectations 2015-16: Price rise & drop of Petrol, Diesel, Automobiles, Food are top concerns of a common man! (Watch full video))
LIVE BUDGET UPDATES
Railway Minister Suresh Prabhu in the Railway Budget presented on Thursday chose to stay grounded and not make the Railway Budget 2015 only for headlines. Railway Budget 2015-16 is being touted as passenger-centric both on social and mainstream media and this has only made people expect more from General Budget on February 28. (Also Read: Defence Budget 2015-16: Arun Jaitley must ensure current military inventory stasis redressal for Modi’s vision of ‘Make in India’)
The onus is now on Arun Jaitley to deliver on the promises his party made a year ago in the run up to Lok Sabha Elections 2014. The thumping victory with a clear mandate wouldn’t give any excuses to the government and this will be the right time to unleash reforms by the Modi government. Another talking point of the Budget 2015 will be the income tax slab; will there be increase in exemption limit or complete abolishment? (Also Read: Union Budget 2015-16: Will Finance Minister Arun Jaitley abolish Income Tax altogether?)
Will the budget deliver on the promises being made? Catch this space for more live news and updates on General Budget 2015-16 here.