Indian Union Budget Insights - 2017
The general union budget by Mr. Arun Jaitley, Finance minister this week was something like a 'short and sweet' one. The IE quotes the budget more like a Dravid than a Sehwag. No surprises and stick to the basics. The Income Tax exemption being the biggest dole out plan, is expected to raise spending in India. While the economy is still reeling under the brunt of demonetization introduced on November 8th last year, this year’s Budget assumed even greater significance. In the past few weeks, the impact of demonization on India’s GDP has been the subject of wide spread discussions, speculation and analysis. The expectation was that while the budget would provide a fillip to economic growth. India’s Finance Minister Mr. Arun Jaitley on 1st March 2017 announced the Budget for the financial year 2017-2018 the central theme being rural welfare & poverty alleviation, expansion of the tax net while simultaneously ensuring a fairer administration of tax laws, enhancin...