Affordable housing being given Infrastructure status is a welcome move and will help in the Housing to all by 2022 mission â€“ 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.
The Union Budget has undertaken a fine balance between fiscal prudence and spending by slightly increasing the fiscal deficit target to 3.2 percent of GDP for FY18.
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".
From a macro point of view, the Budget presented by the Finance Minister is a growth-oriented one with special focus on rural, agriculture and infra sectors.
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.
Association for Democratic Reforms (ADR) keeps a close tab on elections as well as related topics, including on finances of political parties.
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.
It is also changing the law to keep the identity of the donor confidential who buys the just-introduced electoral bonds from banks to make such donations.
Since Government‘s 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.
The Union Budget 2017 has focused on India‘s agriculture sector and the country's farmers to drive growth in rural India while continuing to propel the nation‘s economic engine.
In line with the PM‘s vision to dismantle bureaucracy, the FM‘s announcement to abolish the FIPB and further liberalize the FDI policy deserves a round of cheer! The government‘s continuous focus to bolster the digital economy is definitely applause-worthy.
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.
MSIPS provides subsidy for capital expenditure - 20 percent for investments in special economic zones (SEZs) and 25 percent in non-SEZs.
Besides, Jaitley has proposed to reduce the income tax for smaller companies with annual turnover up to Rs 50 crore to 25 per cent, in order to make micro, small and medium enterprises (MSMEs) more viable and also to encourage firms to migrate to company format.
The Budget "provides renewed impetus to manufacturing and Make in India, export infrastructure and government e-marketplace," she said in a statement.
The Chief Minister thanked Prime Minister Narendra Modi and Jaitley for granting exemption from capital gains tax to farmers, who contributed their land for building AP's new capital Amaravati.
"At a time of global uncertainty, Budgets can be challenging to implement but the Finance Minister has done an admirable job in creating a vision that will propel the domestic economy while remaining cognisant about foreign investors," the US-India Business Council (USIBC) president Mukesh Aghi said.
Budget 2017 has achieved balance between focus on investment & fiscal prudence, said Chanda Kochhar, MD and CEO of ICICI Bank.
Finance Minister Arun Jaitley, in his Budget speech today, proposed merging of all oil public sector units (PSUs) to create one integrated company. It a welcome move and will create synergies in the sector, said the oil minister Dharmendra Pradhan.
The steel industry today welcomed the Budget proposals and hoped that focus on areas such as ports, roads, affordable housing, physical infrastructure should provide the steel sector necessary impetus to meet its growth targets.
CNBC-TV18‘s Ronojoy Banerjee spoke to Naushad Forbes, President, CII, Vipin Sondhi, MD & CEO, JCB India, Rajiv Memani Chmn - Global EMs Committee EY, Chandrajit Banerjee Director General, CII who gave their views on Union Budget 2017-18. Here‘s what they had to say.
The proposal to hike expenditure under IPDS and DDUGJY schemes together by 25 per cent to Rs 10,635 crore as provided in the budget is likely to pave the way for sustainable energy for all.