1

Budget Aims:
Growth; Make in India; Infrastructure (roads, ports); Job creation
Big ticket reforms: GST
Fight Inflation
Fiscal consolidation
Railway Budget: Operating Ratio
Economic Survey
Forecasts growth 8.1% for 2015-16
Fiscal Deficit Target 2014-15 = 4.1%
Retail Inflation: 5-5.5%
Farm output 4%
CAD to fall to 1% of GDP in 2015-16
2014-15: Exports; industrial & manufacturing growth (-); agricultural growth ; land under agriculture
Tax expectations are over-estimated; & there is a need for revenue-generation & expenditure-cut
Govt needs public investment in the short-run
Current tax structure:
12% Excise Duty on production
Service Tax
VAT on sale, charged by state governments on varying rates (4-20%)
1% inter-state sales tax, levied by Centre for inter-state sale of goods
GST can boost GDP growth by 1%
Health for All
3A
Reliable delivery mechanisms of healthcare services
Infrastructure
Resources, manpower, funds
Spending on Health (as % of GDP): China 3%, USA 8.3%, India 1.4%
2

Suggestion to boost infra-sector = tax-exempted Infra-bonds; private funds; long-term financing

Consolidation & integration of schemes
3
JAM = Jan-Dhan (~15cr accounts) Aadhar (~75cr numbers) Mobile (~90cr connections)

http://timesofindia.indiatimes.com/budget-2015/union-budget-2015/Union-Budget-2015-Highlights/articleshow/46404993.cms
http://www.thehindu.com/business/budget/highlights-of-union-budget-2015/article6944752.ece