analysis of budget 2017 by Anamika Sharma & Piush Sharma

Budget 2017 after cascading effect of demonetization became the historic budget because of trans formative leadership displayed by our Honorable Prime minister enforcing sustainable development with spirit of inclusive growth. The main driving forces behind the budget 2017 are accelerating growth through enhancing investment and consumer expenditure. Expenditure in budget got a special place aims at capital expenditure, social welfare and enhancing consumer demand. Youth, women, health, skill education and vulnerable section have widened the ambit of budget 2017. By merging railway budget with Union budget has brought enormous synergy in infrastructure development and attracting investment.

Consumption of overall economy will boost up due to relief in direct tax for middle class. Fundamentally there is no change in tax regime except welcoming reduction in corporate tax for MSME and income tax rate for lowest slab.  This budget aims at accelerating consumption by enhancing expenditure in rural areas and lower taxation for entry level as well as for small companies which in turn boost up GDP. Allocations to rural and agriculture are admirable with Rs 10 trillion.  Gross tax revenue and nominal GDP in 2017-16 is expected to increase by 12.3% and11.75% respectively. Welcoming steps of union budget 2017 are curbing black money with capping cash transition limiting to Rs 3 lakh, enhancing digital payment and improving political funding due to reduction in minimum cash donation to political parties to Rs 2000. Nutshell, budget aims at bottom of the pyramid with transformation, transparency and making Indian move efficient and dynamic.

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submitted by Anamika Sharma and Piush Sharma