He said taxation has to be rationalised to make Indian products competitive.
Bimal Jalan, has recommended to the government that it cut fiscal deficit to 3.6 per cent of the GDP during 2015-16.
Being mandatory, these recommendations will have to be immediately built into the Budget for 2015-16.
Pradhan Mantri Jan Dhan Yojana and Make in India -- are not covered here.
The problems facing India and its economy are far too severe and deep to be fixed in 100 days, and an excessive focus on the first 100 days might have indicated that the government had failed to understand that.
Government looking at cushioning slowdown due to demonetisation with sops and higher outlay for micro, small and medium enterprises, agriculture, and affordable housing.
Besides advancing the presentation of the Budget to perhaps the first week of January, , there are four new initiatives that could be rolled out from the next Budget, says A K Bhattacharya.
The government has unleashed a slew of reforms to attract greater investments including higher foreign direct investment in defence and opening up the railways infrastructure sector, relaxed labour laws, launched campaigns like the Make in India for re-invigorating manufacturing, Clean India and Digital India, among others.
Credibility of fiscal promises is a virtue that no finance minister can afford to lose.
The ministry sought to allay the rating agency's concerns and said economic growth was on an upward swing.
The RBI expects change, presumably commencing in the next Budget, but must hold its current view until this actually happens.
The Centre had set up a Commission under former Reserve Bank of India Governor Bimal Jalan to suggest steps to rationalise subsidy and help the government in effectively bringing down the fiscal deficit.
The government has at last commenced important structural reforms.
The obvious temptation for Mr Jaitley would be to achieve a better fiscal deficit figure than what he had promised in July.
A brief report card on Modi's ministers.
The finance minister defended the change in the tax rates.
The Budget is remarkably coherent.
FY16 GDP growth was seen at 7.5%, against 8.1-8.5% earlier.
There are some 20-odd schemes with this default provision, or something close to it.
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
Chief economic advisor Arvind Subramanian discusses the Budget, goods and services tax, Centre-state relationship and larger issues facing the economy
'Will 'Make in India' be able to harness the demographic dividend so it does not become a disaster?' 'Will 'Digital India' live up to the lofty promises the government and private sector made as part of its recent launch?'
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