The Union Budget 2017 is forward looking and focuses on job creation with an emphasis on rural employment along with raising disposable income of citizens to revitalize the economy post demonetization thereby encouraging stability and growth. Flagship schemes announced by the Prime Minister earlier in his term such as “Make in India”, “Skill India”, “Digital India” have been strengthened to address the objectives of overall development. Steps taken towards making India a more tax compliant country are welcome, this along with GST when fully implemented, will boost tax buoyancy and growth.
An enhanced focus on the agriculture sector will help provide the resources necessary to help rural communities prosper and provide access to a safe, diverse and nutritious food supply across the country. Government will look to broad base the agri-income support programs and would take some concrete steps towards bringing more efficient farming techniques to farmers located in far flung areas of the country. It will be heartening to see a well-defined program that supports crop insurance along with farmers’ credit.
The 2017 budget promises to boost India’s infrastructure development. Increased funding allocation towards the defense sector will enable modernization and procurement of technology & equipment; efficient execution will accelerate development of the sector. Up-gradation of railway stations with a focus on safety and effective use of solar power is a positive move; additional impetus will help railway stations become integrated hubs of commercial activity. We are confident that measures announced by the government today will lead to a better quality of life for all citizens of India.