Budget will transform future of people, says Piyush Goyal

Piyush Goyal, minister of State for Power, Coal and New and Renewable Energy, on Saturday said the Budget for fiscal 2015-16 will touch the lives of 125 crore Indians, and added that it will transform the future of the people from a pension less society to a socially secure society.

"For the first time in independent India, the Budget has touched the lives of 125 crore Indians. This is a Budget which impacts every individual in India. It is a budget which reaches the poor, the farmer and the workers," Goyal told ANI.

"It is a budget which transforms people's future from a pension less society to a socially secure society," he added.

Union Minister of Finance Arun Jaitley presented Budget for the fiscal 2015-16 in the Parliament earlier on Saturday.

The Finance Minister announced a host of measures including the slashing of corporate tax to 25 per cent from 30 per cent over the next four years and the General Anti-Avoidance Rules or GAAR would be deferred by two years.

He also announced that the government will target a 3.9 per cent fiscal deficit for year starting April 1, 2015, adding that the real GDP growth is expected to be 7.4 per cent.

Prime Minister Narendra Modi has also hailed the Union Budget for 2015-16 as a budget with a clear vision, and one that is progressive, positive, practical, pragmatic and prudent.