Union Budget 2016 - 2017 Highlights [English / Hindi - Download As PDF]

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  • Growth of Economy accelerated to 7.6% in 2015-16.
  • India hailed as a ‘bright spot’ amidst a slowing global economy by IMF.
  • Robust growth achieved despite very unfavourable global conditions and two consecutive years shortfall in monsoon by 13%
  • Foreign exchange reserves touched highest ever level of about 350 billion US dollars.
  • Despite increased devolution to States by 55% as a result of the 14th Finance Commission award, plan expenditure increased at RE stage in 2015-16 – in contrast to earlier years.

  • CHALLENGES IN 2016-17

  • Risks of further global slowdown and turbulence.
  • Additional fiscal burden due to 7th Central Pay Commission recommendations and OROP.


  • 'Transform India' to have a significant impact on economy and lives of people.
  • Government to focus on –
    • ensuring macro-economic stability and prudent fiscal management.
    • boosting on domestic demand
    • continuing with the pace of economic reforms and policy initiatives to change the lives of our people for the better.
  • Focus on enhancing expenditure in priority areas of - farm and rural sector, social sector, infrastructure sector employment generation and recapitalisation of the banks.
  • Focus on Vulnerable sections through:
    • Pradhan Mantri Fasal Bima Yojana
    • New health insurance scheme to protect against hospitalisation expenditure
    • facility of cooking gas connection for BPL families Continue with the ongoing reform programme and ensure passage of the Goods and Service Tax bill and Insolvency and Bankruptcy law
  • Undertake important reforms by:
    • giving a statutory backing to AADHAR platform to ensure benefits reach the deserving.
    • freeing the transport sector from constraints and restrictions
    • incentivising gas discovery and exploration by providing calibrated marketing freedom
    • enactment of a comprehensive law to deal with resolution of financial firms
    • provide legal framework for dispute resolution and re-negotiations in PPP projects and public utility contracts
    • undertake important banking sector reforms and public listing of general insurance companies undertake significant changes in FDI policy.

.............To Be Continue
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