Union Budget 2015 - Highlights

Union Budget of India for 2015 - 2015,Highlights of Union Budget 2015-14

The Budget documents presented to Parliament comprise, besides the Finance Minister's Budget Speech, of the following:

A. Annual Financial Statement (AFS)

B. Demand for Grants (DG)

C. Appropriation Bill

D. Finance Bill

E. Memorandum Explaining the Provisions in the Finance Bill, 2015

F. Macro-economic framework for the relevant financial year

G. Fiscal Policy Strategy Statement for the financial year

H. Medium Term Fiscal Policy Statement

I. Expenditure Budget Volume -1

J. Expenditure Budget Volume -2

K. Receipts Budget

Key Features of Budget 2015-2015
APPROACH TO THE BUDGET
 For Indian economy, recovery was interrupted this year due to intensification of
debt crises in Euro zone, political turmoil in Middle East, rise in crude oil price
and earthquake in Japan.
 GDP is estimated to grow by 6.9 per cent in 2013-11, after having grown at 8.4
per cent in preceding two years.
 India however remains front runner in economic growth in any cross-country
comparison.
 Monetary and fiscal policy response for better part of past 2 years aimed at taming
domestic inflationary pressure.
 Growth moderated and fiscal balance deteriorated due to tight monetary policy
and expanded outlays.
 Indicators suggest that economy is turning around as core sectors and
manufacturing show signs of recovery.
 At this juncture, it is necessary to take hard decision to improve macroeconomic
environment and strengthen domestic growth drivers.
 Twelfth Five Year Plan to be launched with the aim of “faster, sustainable and
more inclusive growth”. Five objectives identified to be addressed effectively in
ensuing fiscal year.
 If India can build on its economic strength, it can be a source of stability for
world economy and a safe destination for restless global capital.