Finance Minister Arun Jaitley’s Union Budget 2017-18 has been receiving mixed reaction from various sectors of the country. Prime Minister Narendra Modi lauded this year’s budget claiming that it will lead the country towards development and stated that this year’s budget is devoted towards strengthening the hands of the poor. While on the other hand, Congress vice-president Rahul Gandhi slammed FM Jaitley’s Budget and stated that it lacked a clear vision and had nothing for farmers, youths and job creation. In a major announcement this year FM Jaitley said that political parties continue to received funding from anonymous sources, and hence reduced the maximum donation that a political party can receive in cash is Rs 2,000 from any one source. He added that no transaction of more than Rs 3 lakh will be permitted in cash.
Here is how Kunal Bahl, Co-founder & CEO of Snapdeal reacted:
“We commend the focus on growing the digital footprint in the country – enhancing digital infrastructure, capping cash transactions, reducing cash donations, using Adhaar Pay to enable more digital payments are significant measures. Initiatives make an impact when there is continued attention and the announcement of today builds on the demonetization efforts of last few weeks.
We also welcome the emphasis on skill development and technical education – this will enable India to successfully harness the demographic dividend. The attention to affordable housing, greater employment in rural areas are the right interventions to build a more equitable society”.