Budget 2017 – A Quick Listicle

Budget 2017 - A Quick Listicle

Budget 2017 – A Quick Listicle

Now that the cat is out of the bag and I too will take my good time to share a detailed analysis of Budget 2017, here is a quick listicle on the same.

Following is the point-wise gist of the budget presented by the Finance Minister, ArunJaitley, few minutes back. We were also tweeting the same on @humfauji throughout the speech and thanks to those who made it all very interactive.

A detailed analysis of the same and how it pertains to you and affects you, will be given out by us within next two days:-

  • Sluggish growth has been replaced with high growth
  •  Our mission is to bring transformatory shift to policy-based governance
  •  effects of demonetisation not expected to spill over to next year
  •  CPI inflation is expected to remain within RBI’s mandated range of 2 to 6%
  •  will continue with economic reforms, promote investment
  •  growth in a number of emerging economies is expected to recover in 2017
  •  demonetisation is a bold and decisive measure
  •  We have launched a massive war against Black Money
  •  to double farmers’ income
  • TEC India: is agenda for next year; transform, energise and clean India.
  •  tax administration will be honouring the honest
  • FasalBimaYojana coverage to be raised from 30% in FY17 to 40% in FY18 and 50% in FY19
  • Dedicated micro irrigation fund set up by Nabard to have initial corpus of Rs 5,000 cr
  • FM allocates Rs 48000 crore to rural job scheme in 2017/18
  • 133 kms of roads being built everyday
  • Target for agri credit raised to Rs 10000 crore
  • Govt will set up mini labs to cater to the needs of farmers.
  • Agriculture expected to grow at 4.1% in the current year
  • Innovation fund for secondary education to be created
  • Allocation for rural sector for FY18 rises 24% to Rs 187200 cr
  • Increased allocation of Rs 23000 cr for PM AwasYojana
  • National agri markets to be expanded to 585 markets
  • Initial corpus for dairy processing fund set at Rs 2000 cr
  • Allocating Rs 19000 cr for Pradhan Mantri Gram SadakYojana
  • Affordable housing to be given infrastructure status
  • Two new AIIMS in Jharkhand and Gujarat
  • Aim is to eliminate tuberculosis by 2025
  • 1 crore pucca homes to be built for the poor in FY18
  • Proposes to invest Rs 1.31 lakh cr in railways in 2017-18
  • To take up second phase of solar power development for additional 20,000 mw
  • New Metro Rail policy to be framed
  • Airport Operation Management for tier-II airports via PPP
  • FIPB to be abolished in 2017-18
  • Railway lines of 3,500 km to be commissioned in 2017-18
  • Govt proposes to create integrated PSU oil major
  • National highway allocation at Rs 64000 cr
  • Rs 10000 cr allocated for recapitalisation of PSU banks
  • IRCTC, IRCON & IRFC to be listed on stock exchanges
  • Record allocation for infrastructure: Rs 3.96 lakh crore
  • Govt to set up strategic crude reserves
  • Five special tourism zones to be set up in partnership with states
  • 100% electrification of villages to be completed by May 2018
  • Propose to create a payment regulatory board at RBI
  • Web-based pension distribution system for defence to be established
  • Allocation of capital expenditure up 25% YoY
  • Defence expenditure excluding pension at Rs 2.74 lakh cr
  • Peg fiscal deficit for 2017-18 at 3.2%, says FM
  • FRBM panel recommended fiscal deficit at 3% for next 3 years
  • Total expenditure of Budget 2017-18 has been placed at Rs 21.47 lakh crore
  • Outlay for Railways raised to Rs 1.31 lakh cr with Rs 55000 cr Budget support
  • FM says we’re largely a tax non-compliant society
  • FY18 net market borrowing pegged at Rs 3.48 lakh cr
  • Changes announced for capital gains tax in real estate
  • Not practical to remove MAT
  • Propose carry-forward of MAT to 15 years from 10 years
  • Tax reduction for small companies with turnover of less than Rs 50 cr to 25%
  • Basic customs duty on LNG cut to 2.5% from 5%
  • No transaction over Rs 3 lakh will be permitted in cash
  • Political parties cannot receive more than Rs 2,000 in cash as donation
  • Personal income tax rate reduced to 5% from 10% for those in Rs 2.5-5 lakh bracket
  • Not proposing many changes to indirect taxes given GST roll-out plan

For more information, feel free to reach us on, contactus@humfauji.in or call + 011 – 4240 2032, 40545977, 49036836 or

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