Highlighting what Trump has described as a "public safety and national security budget," the plan raises national defence spending -- already the highest in the world -- by almost 10 per cent, an official said on condition of anonymity.
Affordable housing being given Infrastructure status is a welcome move and will help in the Housing to all by 2022 mission it is a big and positive move for developers, banks and housing finance companies.
The Budget has a positive tone and is in the right direction. The focus on the infrastructure and manufacturing sector will benefit lubricant manufacturers, since we expect this to boost consumer demand in the B2B and B2C market segments.
Along with experts interpreting the budget, Girija Pande, chairman of the Singapore-based Apex Avalon Consulting Pte Ltd, also applauded the decision to abolish Foreign Investment Promotion Board (FIPB), saying it had "long outlived its utility and was a hurdle to large foreign investments into India".
The Budget presented today focusses on ramping up spending on infrastructure, provides the necessary impetus to Housing for All program and continues the structural reforms initiated couple of years ago.
A big infrastructure push along with a substantial hike in provisions for the National Highways in the Union Budget for 2017-18 is a major takeaway and I congratulate the Finance Minister for the growth oriented approach.
Finance Minister Arun Jaitley presented the Budget for next fiscal in Parliament yesterday in which he planned to cut fiscal deficit to 3.2 percent and 3 percent of GDP for next financial year and 2018-19 respectively. The deficit in the current fiscal is estimated to be 3.5 percent of GDP.
Indias Economic performance in 2016-17, in the backdrop of significant developments and disturbances in the global and domestic economic environment has moderated as highlighted in the Economic Survey.
Since Governments emphasis on defence preparedness has been the Central theme, we would have been happy if some incentives by way of tax exemption or deferment on loan payments would have been announced for domestic industry.
In line with the PMs vision to dismantle bureaucracy, the FMs announcement to abolish the FIPB and further liberalize the FDI policy deserves a round of cheer! The governments continuous focus to bolster the digital economy is definitely applause-worthy.
Anil Sardana, MD & CEO, Tata Power is of the view that the efforts that the government has undertaken to bring a positive structure into the economy by moving towards a policy based administration with an increased focus on digitisation.
Gagan Banga, Vice Chairman and Managing Director, Indiabulls Housing Finance is of the view that the Government is on a fast track mode - building a sustainable ecosystem for both developers and home buyers.
Of the total budget, Archaeological Survey of India would get Rs 924.37 crore while Rs 243.01 crore have been earmarked for centenaries and anniversaries of famous personalities, celebrations and schemes, according to the Budget presented by Finance Minister Arun Jaitley in Parliament .
The Finance Ministry has increased allocation for its ambitious Namami Gange programme from Rs 2150 crore for the on-going fiscal to Rs 2250 crore for next financial year, according to the Water Resources Ministry.