While presenting the Union Budget 2016, Finance Minister in his speech laid out the nine pillars to boost the Indian economy, with focus on the agricultural and rural sector and on job creation. From laying stress on agriculture to tax and financial sector reforms, the FM’s nine pillars will focus on agriculture, rural sector, social sector, education, infrastructrural reforms, boosting financial sector, focusing on ease of doing business, fiscal management to take care of government’s finances and tax reforms to reduce compliance burden
The Finance Minister said the government has to keep in mind the provision for the 7th Pay Commission for government officials, and OROP – One Rank One Pension – for the armed force. “The government has to prioritise its sectors” he said.
Jaitley started his speech by stressing on Indian economy's resilience amidst the current global economic turmoil. "Global economy is in a serious crisis. Financial markets have been battered but Indian economy has held its ground firmly."
He also laid out 62 new Navodaya vidyalayas to be opened in next two years. The FM mentioned that certain parts of dylasis machines to be exempt from all forms of customs duty; national dylasis service programme to be launched in all district hospitals.