Putting surplus money in hands of middle-class taxpayer every Budget: Jaitley

New Delhi: In his media address after presenting the Union Budget 2018 in parliament, Finance Minister Arun Jaitley said the Budget blends fiscal prudence with the requirement and needs of the economy today.

“We looked at the areas that require the maximum support, and agriculture and rural sectors came foremost in our mind,” Jaitley added.

He further said,” A social security net has to be created. And we need resources for the social security net.”

Also read: Budget pro-farmers, healthcare pro-poor, will boost ‘New India’ vision: Modi

The finance minister also stated that the contribution of the salaried class has been recognised for the first time.

Hailing Budget 2018 and all the previous budgets of the BJP-led NDA government, Finance Minister said, “Step by step, in every budget, I have been putting surplus money in the hands of the middle-class taxpayer.”

He said that he is confident of limiting the fiscal deficit target for 2018-19 within 3.3 per cent.

Also read: Union Budget 2018: Key highlights

“The Union Budget proposes an institutional mechanism to fix the emoluments of the elected members, thereby addressing the criticism that they fix their own salaries,” Jaitley added.

In response to a question, Finance Secretary Hasmukh Adhia, who was also present at the press conference, said, “There is no impact on the final price of petrol and diesel (after the excise duty cut). To the consumer, there is no change. We took Rs 2 away from the duty and turned it into a cess. That is the only change we made.”