For the first time in at least 15 years, there was no mention of allotment of funds for the Defence sector in the Union Budget. Jaitley in his Budget speech stated that financial year 2016-17 will cast an additional burden on account of the recommendations of the 7th Central Pay Commission and the implementation of One Rank One Pension to the defence veterans.
In his previous Budget, Jaitley had announced an outlay of Rs 2,46,727 crore for 2015-16.
Jaitley on Monday gave relief to small tax payers, nudged the affluent to shell out more while focusing on the rural economy with much higher fiscal outlays.
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