Rs 12,000-cr relief for salaried class, senior citizens: Jaitley

Finance Minister Arun Jaitley said the Budget has given Rs 12,000 crore benefits to salaried class and senior citizens and also defended the long-term capital gains tax on equities, saying this government knows how to “bite the bullet”.

Jaitley further said demonetisation and the Goods and Services Tax (GST) will benefit the economy in the medium and long term and the country will again become the fastest growing large economy of the world next fiscal.

Replying to a debate on Budget 2018-19, the minister said that a lot of things have changed since the NDA government took office in May 2014.

“The narratives which we inherited and the narratives which we have now created are entirely different,” he said referring to the initiatives taken by the government since 2014.

Observing that India has missed the tag of fastest growing economy by 0.1 per cent, Jaitley said, that as per the IMF, India will again become the fastest growing economy.

Taking a dig at the Congress, Jaitley said during the UPA regime, nobody spoke in terms of the Indian economy being the brightest spot.

“It has only happened now,” he added.

(Agencies)

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