Budget 2017 is just around the corner and expectations from every sector is pouring in. Debjani Ghosh, Vice President, Sales and Marketing Group and Managing Director for South Asia at Intel on Friday listed out her expectations from the upcoming Budget 2017. “The extension of concessional Excise and Customs Duty benefits should be extended to all ITA goods, including locally manufactured devices such as laptops and PCs. This will not only trigger innovations in design and manufacturing to address local needs, but also enable citizens to create productive content,” she said. She also said that there has been a significant focus on ease of starting a new venture and related support, the areas where significant hurdles still remain for startups and established companies are the regulations around latest technologies such as 5G, autonomous driving and drone deployment.”
“While manufacturing is encouraged under Make in India, we should also look at encouraging Electronics Design through incentives, driven by public-private partnerships,” she added. “Over the last two years, the government has implemented several policy reforms aimed at improving the overall ease of doing business, increasing the adoption of technology in the startup and innovation ecosystem, and delivering government services to non-urban India. While these are right steps in the direction of accomplishing a knowledge economy, the expected benefits of government programs have not been effective because there is a gap between the initiatives and the actual intended outcome,” she quipped.
Narendra Modi government will be presenting Budget 2017 on February 1. Yesterday, Supreme Court dismissed the plea to change the Budget date from 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 demonetisation 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.
Meanwhile, the Cabinet Committee on Parliamentary Affairs (CCPA) recommended holding of the Budget Session from January 31. The first part of the Budget Session will run until February 9. 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.