Stating that best is yet to come in terms of economy, FMCG major ITC on Friday said that it is optimistic on Indian economy. “We are not holding back any investments. A lot of projects are there in the pipeline.” Talking about Budget 2017 it said that a growth-oriented Budget with focus on infrastructure and rural areas is expected. Recently Nitin Gadkari said, “I expect the Finance Minister to give importance to the infrastructure and power sector in the Budget”. Gadkari sees India to grow in double-digits in the coming years and believes that there is a “good atmosphere” for development in the country. “I believe that India is the best destination for investment,” he said, adding that investors are keen to invest in Indian infrastructure, power and energy sectors.
Narendra Modi government is likely to present Budget 2017 on February 1. The Budget is special not only for the fact that it has been preponed, but more importantly because it comes within months after Modi government’s massive demonestisation drive. Most analysts and economists expect Budget 2017 to be tax-payer friendly, especially given the pain that common man has faced after old Rs 500 and Rs 1000 notes ceased to be legal tender money.
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Also, the 92-year-old practice of presenting a separate Rail Budget is going to end from this fiscal, with the Finance Ministry accepting Railway Minister Suresh Prabhu’s proposal to merge it with the General Budget. Finance Minister Arun Jaitley has indicated that railway travel may become pricier for passengers come the next financial year.