When we are doing the Budget 2017 Review the first question arises what are the major announcements done by Finance Minister Shri Arun Jaitley in Union Budget 2017? Somehow and somewhere the Finance Minister has heartily tried to give everyone something or the other and this is the first budget after 2005 which received such a big thumbs up from the stock market.
The FM in his speech highlighted that 2 crores of the people go to foreign but how many of them actually pay tax? So those who are to be accountable are already accounted for. There is some question that there has been little emphasizing on manufacturing or job creation, but still, the budget looks to be balanced. The budget seems to have balanced out priorities.
Nowadays our priorities are investment and growth and that has been balanced with fiscal prudent. And it also looks like this budget has focussed on all the areas of socio-economic needs, eg, infrastructure OR rural economy OR farmers OR youth OR poor and unprivileged. So every section of the social and economic region has been thought off and priorities have been allocated there.
The biggest point to discuss in the Budget 2017 Review is there has been an announcement on AFFORDABLE HOUSING and there arises a question, whether is there enough demand on the air? It is now understood as more money is left in the pocket of the common man the interest rate on the affordable housing loans is likely to be reduced.
It will give a major boost that this AFFORDABLE HOUSING has got the status of INFRASTRUCTURE and this enables this segment to get other avenues of funding. The benefit of AFFORDABLE HOUSING will be multiple times on the society, like the sales of many ancillary industries get hiked like, steel, cement, construction etc as well as it will create enough employment opportunity.
Budget 2017 Review Conclusion:
Finally positive in the budget is growth has been aimed with fiscal prudence AND the digital system is effectively pushed with aadhar based fast terminals that can effect in 2500 crore digital transaction, referral scheme, payback scheme, etc. There are still some missed opportunities as we could have increased interest deductions against home loans still it looks like this budget is quite balanced.