Union Budget 2017: “The subject of political funding was very close to my heart”- Arun Jaitley
Naidu also lashed out at Rahul and TMC supremo Mamata Banerjee, saying “Rahul ji & Mamata ji are speaking according to their political lines. We are ready for discussion.”
Stating that the Union Budget 2017 was as per expectations with no major changes, Achin Goel, Head, Wealth Management & Financial Planning, Bonanza Portfolio Ltd on Thursday said that the thrust was on skill development, farmers, rural electrification and infrastructure development.
Slamming the General Budget session on Wednesday which went on without any hindrance despite the demise of former Union Minister E Ahamed, CPI(M) General Secretary Sitaram Yechury tore into the Centre for breaking tradition and playing the card of ‘constitutional requirement’ to get away with it.
The Budget is a political one with a focus on farmers, rural area, on the poor, on women, on infrastructure, on digital economy and bringing in good governance.
Barring railways, total allocation for infra sector has been budgeted at `2.75 lakh crore for 2017-18, up 16%.
Under the new norms, the government agreed to release 75% of amounts against margin-free guarantee in situations where awards have been given but have been contested by the authorities concerned.
This year’s budget was perhaps the most anticipated one since the liberalization of the economy in the early 90s.
The positive from this ‘infrastructure status’ means that developers can access foreign funds at a cheaper cost by way of debt; and it will be a ‘priority sector lending’ for banks
One can pray the world turns out to be as benign as anticipated. Otherwise, policies could well have to be altered dramatically
Phasing out of the FIPB which over a period of time has lost its relevance, will cut a layer of red tape
On the whole, transparency and efficiency seemed to be the underlying message of the Budget. A welcome move towards ensuring that India’s economy remains on an upward trajectory.
Good on macro-stability, few tax reforms, nothing on NPAs, but no negative surprises
Despite market noise, it has not deviated from its long-term goal of fiscal consolidation
Budget FY18 has given priority to raising funds for irrigation. An enhanced corpus of `20,000 crore with Nabard is a welcome step.
The infrastructure sector does indeed have reason to feel more than satisfied with the huge emphasis given to it in the 2017-18 Budget.
The finance minister has used the positive macroeconomic profile of the country to his advantage while striking the balance between expanding the spend on focus areas and garnering the requisite resource base.
The announcement to phase out FIPB is an important step in further liberalising the FDI policy for a country which has seen a 36% rise in FDI inflows in first half of 2016-17
FM has achieved this by tightening his purse strings; total expenditure for next year is `21.47 lakh crore, an increase of 6.57%
Finance minister Arun Jaitley relaxed conditions for tax-exempt start-ups to allow them to carry forward losses even after original promoters reduce their holding to below 51%
While the government should have attempted bolder reforms in the area of direct taxes and tried to improve compliance, it has instead created room for some arbitrage by lowering the income tax for the slab between R2.5 lakh and R5 lakh to 5% from 10%.
In the current wave of Robinhood mentality this Budget can be termed safe and nothing that would cause a severe damage to the economy or the industry.
The real issue is not the fiscal slippage target but whether the government’s expenditure patterns are really addressing the need and the funds are utilised with right strategy.
Following the announcement of Union Budget 2017-18, we appreciate the government’s efforts to bring more emphasis on greater formalisation and efforts on digitisation of the economy.
In a bid to improve tax compliance and reward salaried taxpayers in the aftermath of demonetisation, finance minister Arun Jaitley on Wednesday announced halving of the income tax rate to 5%, levied on incomes between Rs 2.5 lakh and Rs 5 lakh.
Though some measures could encourage compliance, Budget 2017 does nothing to change the fact that the top rate kicks in early
You can see the silver lining if you stop looking at demonetisation in isolation. Aadhaar and JAM have been pushed through, BHIM and UPI are being propagated