Budget Bytes: Reforms roadmap with rural focus

Wednesday, 1 February 2017

By Dilip Davda
Veteran Journalist

The third Budget from BJP led government, which was also the first to be advanced by a month as well as a complete budget exercise combining the Railway Budget for the first time in the Indian history, came out with a reforms promise focusing on  rural road map.

Again this was the budget in the backdrop of post historical move of last four decades in the form of Demonetization and, hence, there were many expectations across the board.

As GST implementation is scheduled from 1st July 2017, the FM kept indirect taxes unchanged for a while but gave boost to the MSME sector with lower corporate tax, enhancing Mudra funding by hundred percent and boosting realty sector with low cost/affordable housing liberal guidelines.

Salaried and low income class got the desired concessions, although they were short of expectations. Individuals (having income up to Rs. 5 lakh per annum) and senior citizens got concessions in tax rates.

Textile and infra sector, including power and road construction, as well as defense sector got higher allocations that will ensure speedy development of economy coupled with security and thus it was a well balanced budget.

This budget has also plugged in the loopholes in political party funding and has also dealt with generation of black money. Th fiscal deficit and the inflation targets seem to be within the desired limits. 


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