The Budget has been extra-careful and conservative about the impact of DeMo on the economy. It is very likely that GDP growth for FY17 will close in on a number above 7%. It is probably the most brilliant economic and political document since the path-breaking 1991 Budget.
In his budget speech, finance minster Arun Jaitley highlighted that the country’s direct tax collection is not commensurate with the income and consumption pattern of the country’s economy.
In a webinar BMR & Associates LLP tax experts Gokul Chaudhri and Rajeev Dimri analyse the fine print of Budget 2017. Chaudhri shed some light on the area of taxation, focusing primarily on foreign investors, who he says will have to do with only a single demand being met from the list they had sent, […]
In light of the slowdown in the GDP growth after the note ban, the Budget has made a concerted effort to stimulate economic activity through a combination of modest tax cuts and higher spending, while remaining committed to paring the fiscal deficit.
Union Budget 2017 was a classic act of laying down the foundation of budget being a guide map of fiscal prudence and canvassing of big picture rather than dealing into details of country’s fiscal management.
The BSE mid-cap index ended the Friday’s session at 13285.41, just 3% short of its all-time high of 13,713.
The finance minister has focused the Budget on the farmers, the youth, the rural population by announcing sops and schemes and on providing thrust to infrastructure and the digital economy.
The Union Budget 2017 witnessed the end of colonial-era tradition of presenting the Budget on the last working day of February.
Budget 2017-18 has stayed on the path of fiscal consolidation by pegging the fiscal deficit for FY18 at 3.2% of GDP and remains committed to achieving 3% in the following year as recommended by the FRBM review committee, despite the committee providing an ‘escape clause’ for deviations up to 0.5% of GDP.
Finance Minister Arun Jaitley said setting up a ‘bad bank’, which is a kind of asset reconstruction company to buy NPAs of banks could be a possible solution to deal with the festering problem.
Most of the fiscal and revenue targets set in the Budget are achievable and it reaffirms the government intent of gradual fiscal consolidation apart from signalling continued commitment to broad-base the reform agenda with a greater focus now on widening the tax base, says the global rating agency Fitch.
Post the demonetisation phase, the union budget expectations had soared high. The budget to some extent matched the desire of a common man, but it is likely to impact rich taxpayers negatively with the overload of the heavy surcharge.
The overall approach in Union Budget was to improve spending for growth to pick up, said Finance Minister Arun Jaitley at an event today.
Overall I would give a thumbs up for the budget, however, due consideration towards the few ‘missing’ links could have made me happier.
Finance Minister Arun Jaitley’s historical Budget was unveiled on February 1st to mixed reactions from the general public. Built around underlying themes of digitization of the economy and easier tax norms, this edition of the Budget was presented a month earlier than before.
Tax rates reduced to 5% from 10% on income in the slab 2.5 lakhs to 5 lakhs. This will largely increase the tax compliance as well as the tax base. In order to increase this benefit, the FM also announced that a rebate of Rs 2,500 will now be available to all assesses who earn income up to Rs 3.5 lakhs.
The livelihood of tobacco farmers has been dealt a blow by the crackdown of the government on cigarettes and tobacco products, which increased tax on the items in the Budget while ignoring their plight, according to FAIFA.
The Union Budget 2017 was announced on 1st Feb 2017 and we have some welcome moves in favour of individual taxpayers. Tax rates reduced to 5% from 10% on income in the slab 2.5 lakhs to 5 lakhs. This will largely increase the tax compliance as well as the tax base.
Even though you are earning upto Rs.3 lakh, you will now not be taxed under the I-T Act. Further, you are not required to make any investment to avail the tax benefit.After the budget being announced, there was some confusion among the individuals related to tax slabs.
Tata Steel on Friday said that Budget 2017 initiatives will help reduce the cost of production going forward. “We need to be open to investments and create jobs in India,” it said.
Stating that Budget 2017 is overall positive for business, Moody’s Investors Service on Friday said that it expects the government to achieve fiscal targets.
This year’s budget was expected to be a common man’s budget. It was only to be seen how Mr. Jaitley and his government would go about restarting the beleaguered economy after taking the toughest decision of demonetization, that brought the economy to a near standstill.
While the government is looking to ensure that individuals pay at least some tax, either securities transaction tax or capital gains tax, when they transfer shares, promoters are somewhat miffed they will need to cough up money when they sell shares in businesses they have built up over the years.
The market capitalisation of BSE companies hit an all-time high on Thursday, a day after markets cheered Union government’s Budget proposals including its decision to exempt category 1 and 2 foreign portfolio investors from indirect transfer provisions
The Union finance minister has presented a Budget which is unique and will accelerate a new phase of balanced growth.
On the back of demonetisation as well as the Economic Survey’s projection of higher GDP growth of 6.75 to 7.5% for 2017-18, there were apprehensions that the Union Budget could relax the fiscal deficit target.
The highlight of this year’s Budget is a long to-do list aimed at improving the efficiency and productivity of the economy.