"We are working hard on Budget that will be presented on February 29 and that will establish a roadmap for two or three years," he said while addressing India-Korea Business Summit here.

Finance Minister Arun Jaitley in his second full-year budget is likely to focus on steps to accelerate economic growth that seems to have stagnated in 7-7.5 percent range amid a global slowdown.

The Finance Minister's Budget team comprises Minister of State for Finance Jayant Sinha, Chief Economic Advisor Arvind Subramanian and NITI Aayog vice chairman Arvind Panagariya.

The official team is led by Finance Secretary Ratan Watal, DEA Secretary Shaktikanta Das, Revenue Secretary Hasmukh Adhia and Disinvestment Secretary Neeraj Gupta.

Speaking on the priorities of the government, Sinha said the first and foremost responsibility is to eliminate poverty.

Besides, he said, the government is working on increasing productivity of agriculture.

In addition, the government has carried out reforms in the financial sector and increased investment in infrastructure.

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