Subsidies untouched in the Budget 2015

Aided by a slow pace of fiscal deficit cuts, NDA-2's first full budget aims to ramp up growth, leaving subsidies untouched, ushers tax measures to uncover unaccounted- domestic and foreign capital to work.

Prime Minister Narendra Modi posted a Tweet stating that the budget would further reignite the growth engine. Rising 141 points to end at 29,361.50, Sensex and the markets posted the first Budget day gain in four years showing a move that augurs with industry and corporate growth.

Finance Minister Arun Jaitley’s budget is termed as a test of the PM's willingness to reform Rs. $2 trillion or Rs. 124 lakh crore economies loaded with a full public sector, weak private investment and to remove obstacles to voters of "achche din" or "better days".

Mr. Jaitley told parliament in his 90-minute speech said that Indian economy is a super giant that moves slowly but definitely which even the critics would admit.

India’s decrepit roads and railways will be getting a higher investment promised Jaitley along with offering corporate tax cuts to global corporations and to get Indian tycoons to invest at home rather than abroad.

By the end of the fiscal year Jaitley, forecast inflation at 5 per cent ending March 2016, skipping the Reserve Bank of India's 6 per cent target and creating space to cut interest rates. In January, annual inflation was 5.1 per cent.

However the NDA government seeking instead to enhance efficiency of a rural jobs (MNREGS) scheme that's India's costliest welfare programme, has shied away from politically sensitive cuts in the Rs.3.8 lakh crore subsidy bills. Direct welfare payments into bank accounts will also improve and gradually replace benefits in kind.