Arun Jaitley presents Union Budget in Parliament

He began saying that there is a global slowdown but Indian growth should not slow down. 

 

He said the challenges are opportunities too. 

 

"Inflation has come down," he said, adding that the forex reserve is highest ever. 

With expectations running high, it remains to be seen if the budget packs some big bang reforms or follows more a populist line.

The Economic Survey 2015-16 presented in the Parliament on Friday by  Jaitley emphasized that Indian economy will continue to grow more than 7 percent for the third year in succession in 2016-17 helped by a normal monsoon, despite global meltdown.

This is the third time Jaitley is presenting the Union Budget.