States Will take Union Budget in Right Spirit , Arun Jaitley

28 Feb, New Delhi

Finance Minister Arun Jaitley has exuded confidence that all states will take the Union budget in the right spirit and contribute towards nation building.

Addressing the post budget media interaction in New Delhi on Saturday, Mr Jaitley said, Centre believes in cooperative federalism and states have been allotted 62 per cent of the Central revenue as per the 14th Finance Commission recommendations.

He said, government found the right balance to reach the fiscal deficit target of 3 per cent in 2 years, instead of 3 years.

He added that public spending on infrastructure has been increased, notwithstanding the squeezing on fiscal space.

The Minister said, government brought a paradigm shift in the thinking to the extent that it need to introduce ideas of social security in the system.

He appealed to the more affluent ones to relinquish subsidies, because they are not entitled to it.

Jaitley said, the relief that has been given to middle class tax payers in this budget and the last one was not given in the past 68 budgets.

He said, government’s approach has been to encourage the middle-class to save. He said, no special status has been accorded to Bihar and West Bengal but the same benefits available to Andhra Pradesh will be extended to them.

He said government is committed to implement one rank one pension as said in the last budget.