Budget 2016: Economic Survey 2015-16 to be tabled in Parliament today

 

New Delhi: Union Finance Minister Arun Jaitley will table the Economic Survey for 2015-16 in the Parliament today.

The Economic Survey is the Finance Ministry's view on the annual economic development of the country that gives a broad idea on the macro-economic data, which will impact the budget decisions.

The survey, which is a flagship annual document of the Ministry of Finance, reviews the developments in the economy over the previous 12 months, summarises the performance on major development programmes, and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term.

The Economic Survey has been prepared by the Chief Economic Adviser Arvind Subramaniam and his team.

This year’s budget is likely to witness several key changes including raising of lowest income slab from Rs 2.5 lakh to Rs 3 lakh and greater interest exemption on home loans as a part of Government’s  bid to revive the housing sector.

The Finance Minister is also likely to enhance bank recapitalization from Rs. 25,000 crore to Rs. 30,000 crore.

News24 Bureau