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2017 budget is soon going to be out and after demonetization and people has more than usual expectations from this year. This year’s budget has different tones in many terms like its pre announcement and inclusion of Railway budget in this.
With this budget, Arun Jaitley, the finance minister is likely to infuse some attempts to ease out the running cash crunch. The finance minister will showcase its fourth budget this year.
Below we have Arvind Subramanian’s pre-budget economic survey on budget 2017:
- Since the previous year, the nation went through the battered grounds of economic ups and lows.
On this the financial critics mentioned that, “The GDP is estimated to grow at 7.1% in 2016-17 as compared with 7.6% in 2015-16. However, the Consumer Price Index (CPI) in December 2016 was 3.4% down from 5.6% in December 2015.”
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Budget session’s 2017 chief highlights are like this:
- As mentioned in the Mihir S Sharma’s write up, “Restart- the last chance for the Indian Economy”, Indian economy generates $12 billion from expending new horizons in trade. Thus, jobs possibilities may rise up in the apparel, footwear and leather sectors.
- This budget is a big pressure on the government after demonetisation move.
- November and December months witnessed more of cash withdrawals than any other months.
- Social welfare schemes has an eligible alternative in the form of UBI (Universal basic home) for the aim of poverty reduction.
- After April 2017, the cash flow is likely to be smoothen.
- After Seventh Pay Commission, revenue expenditure growth is likely to boost up to 23.2%. Thus, capital assets will achieve growth of 395%.
- Between the span of April to November, indirect taxes grow by 26.9%.
