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<keyword id="42575" type="PERSON" weightage="80" keywordseo="Arun-Jaitley">Arun Jaitley</keyword>, the newly sworn-in <keyword id="2258794" type="UNKNOWN" weightage="80" keywordseo="Finance-and-Corporate-Affairs-Minister">Finance and Corporate Affairs Minister</keyword> of India, said he would focus on restoring confidence of investors in Asia's third largest economy. 

	Soon after taking charge of the Finance Ministry, Jaitley stated that the country’s economy was passing through difficult times.
 The biggest challenge before the new finance minister will be to revive an economy that is mired in its worst slowdown since the 1980s due to myriad issues, such as strained public finances, persistently <keyword id="101998" type="UNKNOWN" weightage="40" keywordseo="high-inflation">high inflation</keyword>, high interest rates and rising bad loans at banks. Referring to his priorities as finance minister, Jaitley said that he had taken over the new responsibility at a very challenging time, particularly when there is a need to rebuild the confidence of the <keyword id="6356076" type="UNKNOWN" weightage="80" keywordseo="indian-economy">Indian economy</keyword>. 

	Jaitley also added that the political change itself would send a strong signal to the global community, as also to the domestic investors.
 

	The minister further said that the entire policy of the new government would be clarified in the next few days.
 

	India had registered over 9% growth for a few years before the global financial meltdown of 2008 pulled it down. The economic growth rate slipped to as low as 4.5% in 2012-13. However, it inched up to 4.9% in 2013-14.
 

	In the current fiscal, the growth rate is expected to rise further to 5.5%.
 

	He also said that he would be looking after the Defence portfolio as an additional charge till there’s an expansion in the Cabinet. 
	Image: Thinkstock

New Finance Minister Arun Jaitley Pledges To Restore Economy

Finance Minister <a href="http://www.businessinsider.in/markets/economy/jaitley-forecasts-7-5-gdp-in-current-fiscal-year/articleshow/58324958.cms">Arun Jaitley</a> took to social media platform Twitter to say that the government has no plans of taxing <keyword id="3281833" type="UNKNOWN" weightage="100" keywordseo="agricultural-income">agricultural income</keyword>, thus dismissing <a href="http://www.businessinsider.in/topic/niti-aayog">NITI Aayog</a> member Bibek Debroy’s suggestion. Also read: <a href="http://www.businessinsider.in/finance-minister-arun-jaitley-gets-defence-ministry-after-manohar-parrikar-heads-to-goa/articleshow/57618660.cms">Finance Minister Arun Jaitley Gets Defence Ministry After Manohar Parrikar Heads To Goa</a> &lt;blockquote class="twitter-tweet" data-lang="en"&gt;&lt;p lang="en" dir="ltr"&gt;FM &lt;a href="<a href="https://twitter.com/arunjaitley">https://twitter.com/arunjaitley</a>"&gt;@arunjaitley&lt;/a&gt; : I categorically state that the Central Government has no plan to impose any tax on agriculture income .&lt;/p&gt;&amp;mdash; Ministry of Finance (@FinMinIndia) &lt;a href="<a href="https://twitter.com/FinMinIndia/status/857119074006032384">https://twitter.com/FinMinIndia/status/857119074006032384</a>"&gt;April 26, 2017&lt;/a&gt;&lt;/blockquote&gt; &lt;script async src="//platform.twitter.com/widgets.js" charset="utf-8"&gt;&lt;/script&gt; <a href="http://www.businessinsider.in/politics/arun-jaitley-reminds-us-of-contribution-of-indian-professionals-in-the-country-raises-h1b-visa-issue/articleshow/58295654.cms">Jaitley</a> further said that as per the Constitutional allocation of powers, the Centre has no authority to tax agricultural incomes. Debroy had suggested that farm income above a certain level be taxed so that the tax base can be widened.

Won’t tax agricultural income, says Jaitley

The mortal remains of former Finance Minister Arun Jaitley on Sunday reached the Bharatiya Janata Party (BJP) headquarters from his residence in Kailash Colony here for people to pay their tributes. The BJP stalwart's mortal remains reached the party headquarters in a military vehicle decked with flowers at around 10.58 a.m. Several BJP leaders and family members accompanied the convoy carrying Jaitley's mortal remains. Senior party leaders, including Home Minister Amit Shah and Defence Minister Rajnath Singh, paid tribute to Jaitley by offering flowers to his body packed in a red colour casket. Jaitley's mortal remains were kept at the Central Hall of the BJP headquarters where it will be kept till around 2 p.m., and then it will be moved to Nigam Bodh Ghat for the last rites, party sources told IANS. Jaitley passed away at All India Institute of Medical Sciences (AIIMS) on Saturday due to a prolonged illness. He was 66. India’s former Finance Minister Arun Jaitley passed away after sustained illness at the age of 66 after an impressive political career spanning decades when he never won an election but was always relevant and maintained his deep influence in Indian politics. Jaitley, along with the former Foreign Minister, the late Sushma Swaraj -- <a href="https://www.businessinsider.in/sushma-swaraj-indias-former-foreign-minister-passes-away-at-the-age-of-67/articleshow/70561044.cms" data-type="tilCustomLink" target="_blank">who passed away earlier this month</a>-- were instrumental in keeping the Bharatiya Janata Party relevant, as an opposition party, in the ten years preceding 2014 when Narendra Modi swept to power as India's Prime Minister. With inputs from IANS SEE ALSO: <a href="https://www.businessinsider.in/news/arun-jaitley-a-detailed-profile-and-history-of-indias-former-finance-minister-who-had-many-friends-and-few-enemies/articleshow/70815608.cms" data-type="tilCustomLink" target="_blank">Arun Jaitley, every big man's friend, passes away at the age of 66-- leaving behind lessons in the 'art of the possible'</a>

The last rites of India's former Finance Minister Arun Jaitley will be performed today

"Education which does not help common mass of people to equip themselves is it worth of name?.." Finance Minister <keyword id="42575" type="PERSON" weightage="100" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> quoted Swami Vivekanandav in the Parliament, before making some of the biggest Budget announcements India has received in education sector so far. 
 
While highlighting Modi government's "Transform, Energize and Clean India" mission for Budget 2017-18, the Finance Minister said,"Quality education will energize our youth." 
 
He proposed the introduction of a system of measuring annual learning. Emphasis, he said, will be given to science education in schools. 
 
To free CBSE and other agencies of administrative responsibilities, he announced a National Testing agency to conduct all examinations in higher education. 
 
Additionally, in a major push to Make In India, Jaitley announced 100 international skill centres across India to help youth who are seeking jobs overseas. 
 
3479 educationally backward blocks will be given focus. A Swayam platform will be launched with atleast 350 online courses and it will be made available through DTH. 
 
Other key highlights concerning education, youth, women and minorities: 
 
Youth 
- Legislative reforms to simplify existing labour laws 
- ​Stress on vocational training for youth - Two new <keyword id="40458" type="COMPANY" weightage="20" keywordseo="AIIMS">AIIMS</keyword> to be set up in Jharkhand and Gujarat 
- Stepped up allocation for welfare of women and child at 1,82,000 crore 
-​ One stop convergence support system for skill employment etc for rural women 
 
Women and Children 
- Model Shops and Establishment Bill to open up additional opportunities for employment of women 
- For welfare of women and children, allocation stepped up from Rs 1,56,528 cr to Rs 1,84,632 cr in 17-18 - Rs 500 cr allocated to set up <keyword id="4126560" type="UNKNOWN" weightage="20" keywordseo="mahila-shakti-kendras">Mahila Shakti Kendras</keyword> 
- Allocation raised from Rs 1.56 lakh cr to Rs 1.84 lakh cr for women and child welfare. 
- Hiked Allocation For Women Skill Development to Rs 1.84 lakh cr 
- Total allocation to women and children related schemes to rise from Rs 1.56 lakh crore to Rs 1.84 lakh crore 
 
Minorities - SC/ST 
- 35% increase in funds allocation for schedule castes to Rs 52,393 crore. 
- Allocation for minorities stepped up 4195 cr. 
- Outcome based monitoring by NITI Aayog introduced. 
 The Finance Minister said,"Providing quality education is very crucial to the children who are on their way to create India’s core working population in the next 10 years. This development in their formative years can help the country in the years to come. <keyword id="6599769" type="UNKNOWN" weightage="20" keywordseo="Budget-2017">Budget 2017</keyword> is an opportunity for the government to concentrate on the improvement of school education for children who are enrolled in primary and secondary schools. The Centre’s commitment to education has always been high on intent but low in practice." 
 
The Budget 2016-17 allocated Rs 1,51,581 crore for social sector including education and health care. The then budget included 62 new Navodaya Vidyalayas to be opened, Sarva Shiksha Abhiyan to increasing focus on quality of education, regulatory architecture to be provided to ten public and ten private institutions to emerge as world-class Teaching and Research Institutions, set up of higher education financing agency with initial capital base of 1000 Crores and the digital depository for school leaving certificates, college degrees, academic awards &amp; mark sheets to be set-up.

Finance Minister Arun Jaitley makes biggest announcements for Education Sector in India

India’s <keyword id="6391015" type="UNKNOWN" weightage="80" keywordseo="Finance-Minister-Arun-Jaitley">Finance Minister Arun Jaitley</keyword> on Friday presented a report card of his ministry to mark the first year of the <keyword id="2863972" type="UNKNOWN" weightage="80" keywordseo="Narendra-Modi-led-Indian-government">Narendra Modi-led Indian government</keyword>. 
 
Addressing a news conference in the national capital, Jaitley said that Modi government was transparent and decisive, despite obstructions. 
 
India is one of the emerging economies of the world and Jaitley said that the country had the potential to achieve double digit growth. 
 
Slamming the previous government, Jaitley said crony capitalism led to its fall. 
 
He hailed many firsts of his government and also laid out a roadmap for future. 
 
“This government has reduced oil prices 11-12 times and hiked 3-4 times - that is market linked. We have increased excise thrice and once the Oil Marketing Companies (OMCs) benefitted from that,” he said. 
 
Talking about the Goods and Services Tax bill, Jaitley said that the Bharatiya Janata Party-led Indian Government had created history by tabling the bill and expected it to be implemented from April 2016. 
 
The minister did not give a miss to black money issue also, one of the poll planks by the party last year. 
He said that the laws were being introduced to squeeze the black money. 
 
Furthermore, the minister said the disinvestment proceeds in the last year were the largest ever in a single year. 
 
Jaitley said measures to bring direct taxation rates to global competitive levels. He added that the fiscal and account deficits had stabilised, including growth rate and revenue figures. 
 
Meanwhile, he also laid out a roadmap for future saying the government has to increase the spending capacity and in coming years it would raise spending in irrigation and rural infrastructure. 
 
He added that the proposals received by the ministry were of over Rs 50,000 crore and the target was more than Rs 69,000 crore. 
He said the banking sector was under a lot of pressure due to the global slowdown, adding the ministry had professionalised appointments to bank boards. 
 
(Image: Reuters)

Finance Minister Arun Jaitley presents one-year report card of his ministry

<a href="http://www.businessinsider.in/searchresult.cms?query=Finance+Minister+Arun+Jaitley+&amp;sortorder=effectivedate">Finance Minister Arun Jaitley </a>announced some relief for the common man in his <a href="http://www.businessinsider.in/searchresult.cms?query=Finance+Minister+Arun+Jaitley+&amp;sortorder=effectivedate">Finance Minister Arun Jaitley</a>. As per the new announcements, the <a href="http://www.businessinsider.in/searchresult.cms?query=income+tax&amp;sortorder=effectivedate">income tax</a> slabs have seen a slight shift and many people will have to shell out less tax as well. 
 
Once the tax proposals are implemented, here's who will pay less and who will pay more <a href="http://www.businessinsider.in/searchresult.cms?query=personal+tax&amp;sortorder=effectivedate">personal tax</a> 
 
1. Anyone with a taxable income of Rs 3.5 lakh will pay a tax of Rs 2,575 as against Rs 5,150 payable earlier. 
 
2. According to EY, Anyone with taxable income over Rs 5 lakh up and less than Rs 50 lakh will be paying Rs 12,875 less. 
 
3. Anyone taxable income in between Rs 50 lakh and Rs 1 crore, will be paying a flat surcharge of 10% on the total tax payable by them. This is likely to give additional revenue of Rs 2,700 crore. 
 
4. For people earning over Rs 1 crore, they will continue to pay the surcharge of 15% but would get the meagre benefit of saving Rs 12,875.

Budget 2017: Here’s how much income tax you will have to pay now

In the several education reforms announced by Finance minister <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword>, he has proposed to establish a <keyword id="581232" type="ORGANIZATION" weightage="20" keywordseo="National-Testing-Agency">National Testing Agency</keyword> which will conduct all the academic entrance examinations in India. 
 
This will take away the burden from Central Board of Secondary Education and All India Council for Technical Education in terms of the administration work related to examinations. 
 
Exams conducted by <keyword id="6356155" type="COMPANY" weightage="20" keywordseo="cbse">CBSE</keyword> as of now 
 
Apart from school exams at Class 10 and Class 12 level for CBSE affiliated schools, CBSE conducts major higher education related entrances in the absence of any national testing body. 
 
It conducts the Joint Entrance Exam-main (JEE Main) for engineering schools including IITs, and the National Eligibility Test for UGC for selecting professors in college and university system. 
 
<a href="http://www.businessinsider.in/Finance-Minister-Arun-Jaitley-makes-biggest-announcements-for-Education-Sector-in-India/articleshow/56906634.cms">ALSO READ: Finance Minister Arun Jaitley makes biggest announcements for Education Sector in India</a> 
 
It also conducts the Central Teacher Eligibility Test (CTET) for appointment of teachers across several states. It is also in charge of conducting the single medical entrance test for admission to all MBBS courses. 
 
Thanks to NTA, this central body will now conduct all entrance examinations including the two-tier JEE, CAT, CTET, UGC -NET and NEET, among others.

Jaitley just announced a National Testing Agency, so CBSE doesn't have to bother about academic entrance exams

If you are thinking of building the brand of your startup and fretting over taxes, Finance Minister Arun Jaitley may have some good news for you. 
 The Finance Ministry is mulling to give beneficial tax treatment to brand building expenses of the <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword>. 
 
If everything goes as planned, startups and e-commerce companies will be allowed to have initial brand building expenses with benefits. 
 
"The AMP expenses are very important for e-commerce companies to acquire new customers. A major part of these expenses is intangible and the government should allow identified category of AMP expenses to be capitalised," said KPMG (India) Partner Tax Amarjeet Singh. 
 
Experts say that expenditure in advertisement, marketing and sales promotion (AMP) should be an intangible asset. 
 
Such a move, according to Ashok Maheshwary and Associates Managing Partner Amit Maheshwari, would help reduce the losses and prevent net-worth erosion of the company. 
 
The government has decided to give host of tax incentives to encourage startups and some decisions are likely to be announced by Finance Minister Arun Jaitley in the 2016-17 Budget, to be presented on February 29. 
 
"Further, relaxation of withholding tax compliances by e-commerce companies, which are more in the nature of the startups, would enable them to focus more on the business with the reduced administrative burden resulting from relaxation," Deloitte Haskins &amp; Sells LLP Partner CA Gupta said. 
 
(Image: Thinkstock)

Budget 2016: Here’s why startups should not worry about expenses on brand building

Finance Minister <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword>'s 2017 Union Budget will be a big push by Modi government towards <keyword id="6355127" type="ORGANIZATION" weightage="20" keywordseo="employment">employment</keyword>. 
 Several measures have been announced to provide skills to <keyword id="6356126" type="ENTERTAINMENT" weightage="20" keywordseo="Youth">youth</keyword>, train them for industry demands and make them globally competitive. From foreign language courses to international skill centres, here are some announcements that the youth is going to be extremely happy about:

Budget 2017: A huge push to Job Creation in India

Prices of many items will be increasing, including luxury cars, jewellery, travel, water, etc. But, there are still few things prices of which have been reduced. 
 
Finance Minister Arun Jaitley in his Budget 2016 made provisions after which cost of these 11 items reduced. 
 
Here they are

11 items that got cheaper

Though <keyword id="6355261" type="POSITION" weightage="20" keywordseo="Finance-minister">Finance Minister</keyword> <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> in his budget speech for 2017-18 on Wednesday said his proposals on excise and customs duties will not result in any significant loss or gain to the exchequer, the fine print suggests a host of items can become either cheaper or dearer. 
 
Go through the slideshow below to know what got cheaper and what dearer.

Budget 2017: What just got cheaper and what's dearer

Finance Minister Arun Jaitley also touched an emotional cord while presenting his second full budget in the parliament. 
 
During his budget speech, Jaitley explained how the NDA government overcame all odds and converted challenges into opportunities. 
 
He also expressed gratitude to the farmers and women of the country, who despite highs and lows did not lose faith in them. 
 
Here are some quotes by the FM

When Arun Jaitley turned a poet!

Union Finance Minister <keyword id="42575" type="PERSON" weightage="100" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> is likely to start pre-<keyword id="6358021" type="PERSON" weightage="100" keywordseo="budget">budget</keyword> consultations with various stakeholders from today in the run-up to his first Budget. The Budget will also be the first major policy document of the new government led by Narendra Modi. 
 
Jaitley is likely to start by meeting the representatives of the farm and social sectors. He will also meet representatives from trade, industry, financial services and state finance ministers.

You Searched For "Finance Minister Arun Jaitley" and got 13 results

New Finance Minister Arun Jaitley Pledges To Restore Economy

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Won’t tax agricultural income, says Jaitley

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The last rites of India's former Finance Minister Arun Jaitley will be performed today

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Finance Minister Arun Jaitley makes biggest announcements for Education Sector in India

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Finance Minister Arun Jaitley presents one-year report card of his ministry

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Budget 2017: Here’s how much income tax you will have to pay now

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Jaitley just announced a National Testing Agency, so CBSE doesn't have to bother about academic entrance exams

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Budget 2016: Here’s why startups should not worry about expenses on brand building

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Budget 2017: A huge push to Job Creation in India

Anushree Singh

11 items that got cheaper

BI India Bureau

Budget 2017: What just got cheaper and what's dearer

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When Arun Jaitley turned a poet!

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Jaitley To Hold Consultations Ahead Of His First Budget

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