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The move comes days after Budget announcement. In his Budget, Mr Jaitley had loosened the reins on public spending to drive growth, but promised lower-than-expected borrowing despite raising the fiscal deficit target.

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Credibility of Indian economy has been re-established. The world is predicting it is India’s time to fly....We have to think in terms of a quantum jump. Incremental changes will not take us anywhere. - Arun Jaitley

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