Business Today

Budget for the common man

Significant allocation to agriculture and rural sector, which will generate employment, mitigate rural distress to some extent and boost rural demand.

G.N. Bajpai        Last Updated: February 29, 2016  | 00:00 IST
G.N. Bajpai, Former Chairman, Sebi and LIC
G.N. Bajpai, Former Chairman, Sebi and LIC


  • Fiscal deficit retained at 3.9 per cent & 3.5 per cent; speaks volumes about fiscal prudence and will help containing inflation, ensure macro-economic stability and bring down interest rates.
  • Huge push to infra-structure development:- roads, highways & rural roads, railways, ports, power and water transport etc.   

HIGHLIGHTS:Union Budget 2016

  • Significant allocation to agriculture and rural sector, which will generate employment, mitigate rural distress to some extent and boost rural demand.
  • Financial sector reforms, ease of doing business in particular ease of paying tax, including improving tax resolution mechanism, debt market, REITS etc. will improve Total Factor Productivity.
  • Budget has addressed wide ranging areas and therefore, implementation will be the key to reaping the benefits for the growth of economy and people.

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