The Dictation for Shorthand practice was compiled to Speech of Minister of State in the ministry of finance, Sri Jayant Sinha – Say in General discussion of demands for grants on account of budget session 2015-16 in Lok Sabha.
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The Government presents four important documents during the Budget session namely, the President’s Address, Rail Budget, Economic Survey and the General Budget. If we go through these four documents, we have a clear view of the Government ‘s vision that is ‘Sab Ka Sath, Sab ka Vikas’. I want to highlight three major points of the Budget. Firstly, I would like to bring to the fore how the Government handled the economic mess we inherited. Then, I would like to inform the House how the Government has brought about a revolutionary change in the fiscal architecture. Third point is the employment for the youth addressed in this Budget. Fiscal deficit of the Government used to be 4.1 per cent which we have managed. The other problem is NPA. When this Government was formed, there were approximately 1400 stalled projects. We are strengthening and taking forward our banking system. The third problem was lack of employment opportunity and we have policies in the Budget to generate employment. Ever since this Government has come into being, we have sent a clear cut message to the investors and industrialists in the country and the world over that we can run the Government quite well. Prior to the 14th Finance Commission, devolution to the states used to be 32 per cent. This time, the 14th Finance Commission has recommended to increase it to 42 per cent. If it is increased to 42 per cent, the amount of Rs.1.8 lakh crore that the Centre used to get, would go to the states. I want to elaborate the important policies formulated by the Government for the youth. This is a Budget for the young. We have laid much emphasis on Skill India.
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