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Union Budget 2015-16 today; All eyes on FM Jaitley
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SME Times News Bureau | 28 Feb, 2015
Finance Minister Arun Jaitley was set to present India's national budget
for 2015-16 amid high expectations from all stakeholders in lifting
overall growth, reinforced by the positive agenda set by the Economic
Survey for "big bang" reforms.
"As the new government is to
present its first full year budget, it appears India has reached a sweet
spot and that there is a scope for big bang reforms now," the survey,
tabled by Jaitley Friday said, preparing the ground for the latest
annual budget.
Ahead of budget presentation, scheduled at 11 am
in the Lok Sabha, Jaitley met President Pranab Mukherjee, who was
himself a finance minister, and was also present at the customary
meeting of the cabinet, presided over by Prime Minister Narendra Modi
inside Parliament House.
In the meanwhile, the stock markets were
all fired up, hoping for some positive outcomes from the budget to lift
corporate fortunes, leading to the sensitive index (Sensex) of the
Bombay Stock Exchange (BSE) jump some 225 points, or 0.75 percent.
The
gain followed another rally Friay that saw the 30-share benchmark index
gain zoom 474 points or 1.65 percent, based on the positive tone set by
the Economic Survey, which predicted an 8-8.5 percent growth for the
next fiscal and said double digit expansion was now within reach.
This
will be Jaitley's second annual budget, with the first one tabled in
the middle of the year after a major victory in the national elections
for the Bharatiya Janata Party (BJP). In a way, the finance minister
then had himself raised expectations from his second budget due
Saturday.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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