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Budget Flash

India’s Union Budget 2017-18

Union Budget 2017-18 presented today reinforces government’s intent to bring about key reforms such as incentivising small tax payers, awarding infrastructure status to affordable housing segment, redeploying capital gains tax into a bigger basket, phasing out FIPB and focus on rural development. Various provisions of the Finance Bill aims to strengthen the financial sector and bring in structured monetary reforms.

Key highlights of the Union Budget include:

  • Use of technology in India for a robust “digital economy” which would enable speed, accountability and transparency including expansion of digital “cash less” economy with the launch of Aadhar linked pay and BHIM app.
    • Boost to the rural economy by way of enabling small farmers to increase their productivity through the use of micro-irrigation and technology.
    • Keeping in view the target to provide housing for all by 2022, awarding Infrastructure status to low income group housing.
    • Increased budget allocation to Agriculture and Infrastructure.