Transformative & Credible Budget
§ The Union Budget 2016-17 is indeed a Transformative and Credible Budget that spurs growth while adhering to fiscal consolidation.
§ Multiplier effect on GOI spending on Infrastructure, Roads, Highways , Railways, Rural Development & Financial Inclusion is a big positive.
§ While the Railway Budget sought to generate revenues from non tariff sources & speed up transit time, the Union Budget seeks to bring about a transformational change.
§ Adherence to fiscal deficit of 3.5% of GDP despite a 15.3% increase in plan expenditure is quite exemplary.
§ With only 3% of our population paying Income Tax, the budget has touched even the smallest tax payer as he gets an extra annual tax benefit of ₹ 6,600.
§ The Finance Minister has kept the Indian Investor happy by not tinkering with provisions pertaining to Long Term Capital Gain Tax.
§ Improving Current Account Deficit & Revenue Deficit target of 2.5% of GDP and lower market borrowings from the GOI is comforting.
Please find attached file containing our view on – Union Budget 2016-17
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