Demonetisation has not had any major impact on the Budget 2017 moreover it feels like the goverenment has continued with its theme that it has been talking about since a considerable amount of time. Even when they were getting on with thier election mode, they spoke of the same changes. These changes include: rural housing, poor, agricultural output, irrigation projects, rural road projects and more.
The common man will get relief from difficulty he has been through because of demonetisation but the larger reforms like roadmaps for reductions to corporate tax rates to 25 per cent is doubtful to come through
D K Srivastava says that the Indian economy is stuck in a macro fiscal challenege where investment contraction is being followed by consumption contraction. Now, the question is how aggressive the government can be in order to stimulate the economy.
Vivek Gupta, partner BMR Advisors says the government should reward the honest taxpayers in this Budget. The government is expected to make announcements related to tax incentives to create employment.
Success of the two flagship programmes of the government of India, Start-up India and Make in India, depends on the quality of graduates Indian institutes produce. Union Budget 2017-18, therefore needs to increrase its focus and attention to education sector by increasing public expenditure to at least 6 per cent of GDP. Education sector has to be in the list of exempted sector in order to ensure that the benefits keep on flowing to the sector which were removed or rather decreased in last year budget.