Presenting the Union Budget 2017 in the Lok Sabha, Finance Minister Arun Jaitley on Wednesday said the Union government has…
Arun Jaitley (Photo: AFP)
Presenting the Union Budget 2017 in the Lok Sabha, Finance Minister Arun Jaitley on Wednesday said the Union government has controlled the double-digit inflation and sluggish growth has been replaced by high growth.
“Double digit inflation has been controlled; sluggish growth replaced by high growth; war on blackmoney launched,” Jaitley said in the lower house of Parliament, adding, the government moved from “discretionary based administration to policy based administration”.
Talking about demonetisation, Jaitley said, “it was a bold & decisive strike in a series of measures to arrive at a new normal of bigger, cleaner & real GDP”.
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“We are moving from informal to formal economy & the government is now seen as a trusted custodian of public money,” he added.
“My approach in preparing the Budget 2017 is to spend more on rural areas, infrastructure & poverty alleviation with fiscal prudence,” Jaitley said.
Meanwhile on budget merger, Jaitley said, “the merger of Railway Budget with Union Budget was a historic step”.
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