Budget 2017: India seen as an engine of global growth

Finance Minister Arun Jaitley started his Budget speech by highlighting India’s economy prowess vis-à-vis global economy.

According to FM, ‘IMF estimates world GDP will grow by 3.4 per cent in 2017.' FM also listed the threats to the economy in terms of oil prices, rising dollar and volatile commodity prices globally posing a risk to the domestic economy.

Uncertainty around global commodity prices to have an impact on Indian economy. Monetary Policy stance by the US Fed, will be a concern for emerging economies.

The FM has also raised concern about the global protectionism approach however, remains optimistic of exports to improve in the year ahead.

Nifty and BSE Sensex were trading with gains of 0.21 and 0.24 per cent as of 11.29 am.