Synopsis of Union Budget
PREFACE
The Hon’ble Finance Minister Shri Arun Jaitley tabled his fourth successive Union Budget before the Parliament on 01st February 2017. This Budget holds an important aspect on account of 3 major reforms. One is the advancement in presentation of Budget on the first day of February from the earlier pre-independence practice of presenting it on the last day. This move would enable Government and its Departments to complete constitutional formalities and ensure passing of the Finance Bill 2017-18 within the current financial year. The second major reform has been the merger of Union and the Railway Budgets, which would ensure Railway sector to be on Government’s fiscal reform agenda. Thirdly, doing away of bifurcation into Plan & Non-Plan expenditures and instead classifying into Revenue & Capital Expenditures. The year 2016 was a remarkable year for the Indian economy as it witnessed two tectonic policy initiatives –one was the passage of the Constitutional Amendment Bill initiating the implementation of Goods and Service Tax (GST) Law and second was ‘Demonetization’ of two highest currency notes of INR 500 and INR 1,000 as a legal tender. [gdlr_button href=”https://www.mayurbatragroup.com/wp-content/uploads/2017/04/Synopsis-of-Union-Budget-2017.pdf” target=”_blank” size=”medium” background=”#000000″ color=”#ffffff”]Read More[/gdlr_button]