Jaitley to present union budget, no postponement owing to MP demise
"Watch me live presenting the Union Budget 2017 at 11 am, February 1, 2017 http://www.loksabhatv.nic.in/," tweeted Jaitley ending the doubts that the budget could be postponed by a day following the death of Former Union Minister E Ahamed.
The budget assumes significance as it will be the first one since the Union government's demonetisation move banning old Rs 1000 and Rs. 500 currency notes to curb black money menace.
The Economic Survey presented ahead of the budget said demonetisation has hit India’s growth by 0.25-0.5% of GDP, but will yield a fiscal “windfall”.
The Indian economy has sustained a macro-economic environment of relatively lower inflation, fiscal discipline and moderate current account deficit coupled with broadly stable rupee-dollar exchange rate despite continuing global sluggishness, said Union Minister Arun Jaitley in the Parliament on Tuesday.
As per the advance estimates released by the Central Statistics Office, the growth rate of GDP at constant market prices for the year 2016-17 is placed at 7.1 per cent, as against 7.6 per cent in 2015-16.This estimate is based mainly on information for the first seven to eight months of the financial year.
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