Dubai: Budget views by Sudhesh Giriyan, COO, Xpress Money

- Media Release

Dubai, 28 Feb 2015: ‘The Indian Finance Minister’s initiative of National Skill Mission will give a boost to the employability of youth, especially below 25 years of age. When skills are suitably polished the workforce is ready for better opportunities in employment across all sectors, not only in India but also globally. If skill-equipped workforce moves abroad, it would mean higher value of transactions coming to India as remittances, further contributing to the GDP of the country,’ says Sudhesh Giriyan, COO, Xpress Money.

 

 

UNION BUDGET – 2015 – CONSOLIDATED SUMMARY

1. India Set To Take Off On Faster Trajectory of Growth Again

2. The credibility of Indian economy has been re-established

3. Budget Proposals Lay Down Roadmap for Accelerating Growth

4. Government to doggedly pursue path of growth and higher investment

5. The latest CPI inflation is 5.1 percent and whole sale price inflation is negative

6. Current Account Deficit for FY15 to be Below 1.3 percent Of GDP

7. We inherited a sentiment of Doom and gloom and have come a long way by pour actions

8. Embraced States as Equal Partners Of Growth

9. Real GDP is likely to grow 7.4 percent

10. Modi government has taken several steps to re-energize economy

11. People of India wanted scam scandal corruption raj to end and wanted quick change, we have lived up to those expectations

12. People have voted for change, quick growth and trusting government.

13. Current Account Deficit estimate < 1.3 percent; second best performing major Market

14. 3 major achievements of government: Jan Dhan Yojana, Coal Auction and Swacch Bharat programme

15. Embarked On GST & JAM Trinity

16. Target of building 6 crore toilets will be met

17. 3 achievements that reflect our work # JanDhan Yojana, Coal auctions and Swachh Bharat

18. We have embarked on two fundamental reforms is GST and new JamTrinity

19. Have Concluded Monetary Policy Agreement with RBI

20. Aiming for a double digital growth rate is seeming feasible

21. Expect CPI To Remain Close To 5% By Year-end

22. To amend RBI act enabling setting up of a monetary policy plan

23. Incremental change is not going to take us anywhere, will need to think in terms of quantum jump

24. 50,000 toilets constructed under Swachh Bharat Abhiyan

25. GST will put in place indirect tax system by April 2016

26. 12.5 Cr Families A Part Of Jan-Dhan Yojana Already

27. Swachh Bharat will regenerate India; 12.5 Cr families now in fin system

28. To See 6 Cr Units Of Rural & Urban Housing By 2020

29. Double digit GDP growth seems feasible and growth in FY16 expected at 8 percent to 8.5 percent

30. Ease of Doing Biz Will Be Improved Further In Near-term

31. India has to be made the worlds manufacturing hub

32. States have been economically empowered

33. We have also to encourage new start ups and entrepreneurship

34. Commit to raising irrigated area; need to increase agricultural productivity; build 20 million houses in urban India

35. A roof for each family in India by 2022- 75th Year of India’s Independence

36. We expect the CPI inflation to remain close to 5 percent towards the end of yea

37. To ensure employment to our youth, we have to make India the manufacturing hub of the world

38. India’s youth should be job creators and not job seekers

39. Key challenges agricultural incomes falling, decline in share of manufacturing , need for fiscal discipline

40. To complete 1 lac kilometers of Road Project; need quantum changes; incremental change not enough