The first budget from Finance Minister Arun Jaitley the NDA was presented After being elected to power, spoke of smart cities in India, setup of new IITs and IIMs, new airports and schemes for developing sports across the country.
Limited tinkering with slabs on the personal income front, but income-tax exemption limit for senior citizens was raised to Rs 300,000. Jaitley promised aimed to achieve 7-8 per cent economic growth rate in next 3-4 years. The opposition reacted defensively to this budget, with Manmohan Singh, former Prime minister, calling it
"Budget lacks road-map".
Cartoon: Satish Acharya