Post Demonetization Budget-2017- Expectations, Apprehensions and Reality

India's Budget for 2017-18 remained one of the most awaited budget presentations in recent decades where finance minister Arun Jaitley started by underlining the current government's efforts in putting India on a "transformative mode" through a series of reforms initiated over the last three years. "What is positive is that the middle class, for once, also gets a break through reduced taxes, as well as the small and medium enterprises (SME) sector. India will ramp up spending on rural...
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India's Budget for 2017-18 remained one of the most awaited budget presentations in recent decades where finance minister Arun Jaitley started by underlining the current government's efforts in putting India on a "transformative mode" through a series of reforms initiated over the last three years. "What is positive is that the middle class, for once, also gets a break through reduced taxes, as well as the small and medium enterprises (SME) sector. India will ramp up spending on rural areas, infrastructure and fighting poverty. Finance minister Arun Jaitley added that the impact on growth from the government's cash crackdown would wear off soon as well as hardship to people. So he's trying to mitigate that as much as possible, with some rural schemes and reduction in taxation for low income people."Calling the Budget "mildly growth supportive," rating agency Crisil notes: "The Union Budget 2017 has performed a balancing act. The budget has others who see both positive and negative features. "This budget, like all budgets, is a mixed bag, with what appears to be a greater thrust on long-term, systemic reforms than on ensuring growth per se.The priority is on digital transactions and broader digitisation of India. The government is betting big on the BHIM app. India hopes to create a cleaner, more transparent economy via digitalization that will lead to an improved climate for foreign investment, boost economic growth, and ultimately propel the country to the next chapter of its emerging markets story.The Budget announcements by finance minister Arun Jaitley clearly reflect Modi's confidence that the aam aadmi would support the "bigger moral purpose" behind demonetisation, which now guides various policy measures aimed at "cleansing the economy".The compiled book entitled 'Post Demonetisation Budget-2017- Expectations, Apprehensions and Reality' presents in-depth analysis , insights and key highlights from experts. For convenience of readers the book is divided into the following chapters.Chapter-1: Expectations from Budget-2017, Chapter-2: Economic Survey 2017, Chapter-3: Budget-2017-Opening Speech of President of India, Chapter-4: Fiscal Issues and Chapter-5: Union Budget 2017. Thanks to the original contributors of the articles presented in the book for bringing awareness among the interested readers.