One of the least expected turn of events in this year’s budget was the lack of change in the taxation eco-system.
Jharkhand Chief Minister Raghubar Das today hailed the Union Budget, saying despite challenges Finance Minister Arun Jaitley presented the best budget, focusing on villages, the poor, farmers, youth, women and social security.
Union Budget 2017 is silent on the amount of Black money recovered until now after demonetisation.
Javadekar also added that the Union Budget also gives an opportunity of financial discipline in the country along with fiscal consolidation.
In order to widen the scope of TDS, the government has proposed to insert a new section of 194-IB in the I-T Act to provide that an individual or a HUF
In a bid to insulate the country from volatility in global oil market, the government will build two more underground crude oil storages in Odisha and Rajasthan.
As Finance Minister Arun Jaitley presented the Union Budget 2017-18, today, Rashtriya Janata Dal (RJD) supremo Lalu Prasad Yadav denounced the Budget as ‘bereft of substance and compared PM Modi with Donald Trump.
Union Minister Rajiv Pratap Rudy today said the measures announced in the Budget will have “major ramifications” for skill development in the country.
ISSDA urged the Finance Ministry to relook at the Budget decision and abolish the duty on key raw materials and increase duty on stainless steel finished goods adding that these steps would help revive the ailing industry.
The Union Budget 2017-18 was announced with the theme of Transform, Energise and Clean India (TEC) was largely geared towards rural growth, infrastructure, and poverty alleviation, with a huge impetus to affordable housing.
To ensure availability of specialist doctors at the secondary and tertiary levels, the Centre today announced the creation of additional 5,000 post- graduate (PG) seats every year even as it increased the budget allocation for the health sector by almost 28 per cent.
M Kharge criticised the government for insisting on presenting budget before elections so that they can lure voters. He also criticised the government’s move to scrap the rail budget, presented separately for years.
A day after the Economic Survey rang alarm bells on India’s “soon-to-recede demographic dividend”, Finance Minister Arun Jaitley today turned towards the youth seeking to ‘energise’ them through education, skills and jobs, earmarking as much as Rs 6,200 crore under two schemes.
Finance Minister Arun Jaitley’s Union budget 2017 will be remembered, not just for its date of presentation but its attempt to curb down the flow of black money from the economic ecosystem.
Commenting on the Union Budget 2017 that was presented by Finance Minister Arun Jaitley today, Anshuman Magazine, Chairman of India and South East Asia CBRE said, “Overall, the Union Budget 2017 augurs well for real estate, affordable housing and the infrastructure segment.”
Earlier today, Prime Minister Narendra Modi praised the budget presented by his government for the year 2017-18 and claimed that it would lead the country towards development.
Pradhan Mantri Krishi Sinchai Yojana”, a dedicated irrigation fund, augmented access to crop insurance under the “Pradhan Mantri Fasal Bima Yojana” are admirable interventions aimed at doubling farmer income, said Shilpa Divekar Nirula, CEO, Monsanto.
Union Budget 2017: “We believe that the fresh moves made will cultivate the rising upsurge of tech and digital initiatives to further energise the GDP of our nation”- Anurag Avula
Following muted response to spectrum auction, government has slashed revenue expectation from the telecom sector by 55 per cent to Rs 44,342.2 crore for 2017-18, indicating no sale of airwaves for mobile services next fiscal.
Commenting on the Union Budget 2017-18, Pankaj Patel, President FICCI said, “This budget would tremendously strengthen the economic muscle of the country.
FM has selectively fulfilled his commitment by reducing income tax rate for smaller companies with annual turnover up to Rs 50 crore to 25%.
The government’s revenue foregone in the form of incentives to corporates in the current fiscal is estimated to grow nearly 8.63 per cent to over Rs 83,492 crore.
Asserting that the Budget provides a ‘big relief’ to the MSME sector, Union Minister Kalraj Mishra today said announcements like the lowering of income tax for smaller firms and doubling the lending target under MUDRA Yojana will benefit small entrepreneurs in the country.
Finance Minister Arun Jaitley today presented Union Budget 2017 and reacting to that Surendra Hiranandani, CMD, House of Hiranandani, called it as ‘reform oriented budget’ in which the expenditure was well directed towards economic growth and development, especially in rural areas.
Union Budget 2017: “However, given the strong emotions that the Demonetization exercise evoked from the country at large and impending implementation of GST, the government refrained from bringing in any pathbreaking changes on direct taxes.”- Ajith Mohan Karimpana
Law Minister Ravi Shankar Prasad termed the Union Budget 2017-18, as “historic” and an “effort” to make the country honest.
India Inc today said the budget builds a positive sentiment that government will take all steps to boost growth with its focus on rural economy and infrastructure but rued no cut in corporate tax for large companies.