Singapore Budget 2016 was unveiled on 24 March 2016. The budget was keenly watched with more than the usual anticipation by all sections of the economy for three reasons: it is the first one from the newly elected government; it is expected to set a blueprint for the next phase of economic development of the country and most importantly, it comes at a time when all major economies are fearing a seismic recession. It is also the debut budget from Mr. Heng Swee Keat who has taken up the role of the Finance Minister after successfully serving as the Minister of Education in the previous regime.