Peyush Bansal, Founder and CEO, Lenskart on Tuesday said that he expects the government to continue with positive policy announcements and look forward to the implementation of single window license regime in order to improve business environment and give strong push to start-ups in India in the upcoming Budget 2017. Speaking to FE Online he also said that a “futuristic tax policy (single tax regime through the roll out of GST) that will create grounds for innovation and entrepreneurship,” is expected. “2016 has been an exciting year for the Indian economy. The government has been making positive reforms allowing the e-commerce industry to move at a superlative speed. Government’s support in retail and e-commerce expansion has enabled us to reach out to the consumers in tier 2 and 3 markets,” he added.
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 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.
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 till 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.