Finance Minister Holds 5th Pre-Budget Consultation Meeting

The Finance Minister of India Arun Jaitley holds his 5th Pre-Budget Consultation Meeting with the leading Economists in New Delhi. According to the Finance Minister, India has recorded an average growth of 7.5% from 2014-15 to 2016-17, significantly higher as compared to the growth in the previous two years. 

The fiscal deficit as a ratio of GDP stood at 3.9% in 2015-16 and 3.5% in 2016-17 and is budgeted to be 3.2% for the Current Financial Year 2017-18.

Static/Current Takeaways Important for RBI Assistant Mains 2017 Exam-
  • The first finance minister of independent India was R. K. Shanmukham Chetty, who also presented its first Budget.


Source- DD News

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