Finance Minister Arun Jaitley announced a budget for growth on Saturday, saying the economy was ready to “fly”, that the government would boost investment and ordinary people should benefit. Here are the 5 challenges listed by him to the economy.
1. Agricultural incomes are under stress
2. Increasing investment in infrastructure.
3. Manufacturing has declined from 18% to 17% of GDP and manufacturing exports are stagnant. Make In India program will create jobs
4. Need for fiscal discipline in spite of rising demand for public investment. Unprecedented hike in share of states of revenue from federal taxes. This is cooperative federalism.
5. Will meet challenging fiscal target of 4.1% of the GDP which we have inherited. Remain committed to mid-term target of 3% of GDP as fiscal target.
