Finance Minister Arun Jaitley on Monday listed 'nine pillars' including tax reforms, promoting ease of doing business and ensuring fiscal discipline, that will transform India.
As Jaitley tabled Budget 2016, he also outlined NDA government's top four priorities for fiscal year 2016-17 that will set the tone of Indian economy going forward: Farm, social, infrastructure and banks.
FULL COVERAGE:Union Budget 2016
He set aside Rs 38,500 crore for MNREGA scheme in FY17, which is the highest till now and also spoke about doubling the farm income in five years.
HIGHLIGHTS:Union Budget 2016
Jaitley, in his budget speech, mentioned to achieve 100 per cent rural electrification by May 1, 2018 and budgeted Rs 8500 crore for the same.
Below are nine pillars that he outlined to transform India:
- Rural sector
- Social sector
- Educational skills and job creation to make India a knowledge based and productive economy
- Infrastructure investment to enhance quality of life
- Financial sector reforms
- Governance reforms and ease of doing business
- Prudent management of government finances
- Tax reforms to reduce compliance burden