Finance Secretary Arvind Mayaram has said that the general budget is growth-oriented. He described the budget as balanced, forward looking, and said it lays out a very strong foundation for economic growth.Talking to the media in New Delhi yesterday, Mr Mayaram said, there is a substantial increase in the allocation for the defence sector and also for internal security.He said a lot of emphasis has been given to private investment which includes Foreign Direct Investment FDI and there is a provision for liberalization of the FDI regime in the budget.Mr Mayaram said, new schemes have been added and larger allocations have been made for the poor, marginalized, minority, downtrodden, women and the Scheduled caste-Scheduled tribes.On fiscal deficit, he said, a fiscal space has been created, in which Rs 22200 crores have been given as giveaways because of direct taxes and exemptions and about Rs 7500 crores raised as indirect taxes.
News On AIR | July 11, 2014 12:55 PM
General budget is growth-oriented: Finance Secretary