FM Arun Jaitley begins presenting national budget for 2016-17
February 29, 2016
The Finance Minister Arun Jaitley began presenting India's national budget for the next fiscal in the Lok Sabha on Monday, amid concerns over stagnating growth, the state of government finances and stuttering pace of reforms.
"I am presenting the budget when the global economy is in crisis," Jaitley said in his opening remarks, adding that India, however, remained the bright spot in this gloom, turning difficulties into opportunities.
He said India's growth has expanded 7.5 percent, despite slowdown in exports, even as inflation had eased, bringing big relief to the general public. He also said foreign exchange reserves were robust. "Indian growth is at an extraordinary high."