Budget 2016 to give a new direction to Indian economy: Javadekar

By: | Published: February 29, 2016 4:06 AM

Budget 2016: Minister of State for Environment and Forests Prakash Javadekar on Sunday expressed hope that the General Budget to be presented by FM Arun Jaitley on Monday in Parliament would give a new direction to the country's economy.

Budget 2016: Minister of State for Environment and Forests Prakash Javadekar on Sunday expressed hope that the General Budget to be presented by FM Arun Jaitley on Monday in Parliament would give a new direction to the country’s economy.

“It’s a first meeting, courtesy call with everybody, so that we can see how things emerge. I am meeting all NDA colleagues and in that sequence I met everybody. Modi Government has brought change in the country. We expect that in tomorrow’s budget, many new changes and many new schemes will be announced and there will be a new direction to the economy,” Javadekar told the media here.

“People will be benefited by this budget and by every action of the Modi Government. This is what we will take to the people of Tamil Nadu,” he added.

Certain steps like extending benefit of interest subsidy scheme to more sectors to boost exports is likely to be announced in the Budget. It may also look into the demands of SEZ players who have sought reduction or even removing the minimum alternative tax.

The Budget is expected to address retrospective tax concerns. Jaitley faces a tough task of balancing the needs of farm sector as well as the industry when he presents his third Budget, as he seeks to garner resources to boost public spending for higher growth amid global headwinds.

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