The Narendra Modi government’s second Union Budget will be presented on Saturday, February 28, 2015. Expectations are high from Modi and Union Finance Minister Arun Jaitley, who will present the government’s again, but this time it will be the first budget after the Modi government has completed almost a year in power. While many speculations are being made about the Union Budget 2015-16, the Finance Minister faces a lot of challenges this year.
This video report by financial newspaper Mint presents six challenges that the FM Arun Jaitley faces this Union Budget. The article says Jaitley faces the following main challenges that it lists as his priorities:
1) Increase government revenue; 2) Increase India’s tax revenue as a percentage of gross domestic product (GDP); 3) Check Inflation – it is high in India as compared to most countries; 4) Measure the quality of India’s infrastructure; 5) Measure India’s expenditure on health; 6) And finally, address this question: How can the government spend more on physical and social infrastructure projects while sticking to fiscal deficit targets?
Mint also provides some basic answers on how to tackle the above challenges: Improve revenue, reduce subsidies and spend more on infrastructure. Well, if it only was as easy as that!
Watch the video below to know more.