Union Budget 2016-17, FM Arun Jaitley, income tax, corporates, Jayant Sinha
Budget 2016 'balanced', 'pragmatic': RBI deputy guv

Budget 2016-17 is "pragmatic" and "balanced," and its focus on the rural economy and job creation will bring long-term benefits, Reserve Bank of India Deputy Governor S.S. Mundra said.

The comments come even after Jaitley stuck to a fiscal deficit target of 3.5 per cent of gross domestic product for the 2016/17 year, sparking gains in bond markets.
The Finance Minister Arun Jaitley today widened the duty drawback scheme to extend more support to the export sector.
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