It is Budget day, today

[prasad1]

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Finance Minister Arun Jaitley on Wednesday announced several plans for the development of infrastructure and allocated ₹3.9 lakh crore for the same. In this regard, the government said railway lines of 3,500 km will be commissioned and bio-toilets will be introduced on all coaches. Further, the Airports Authority of India Act will be amended to enable monetisation of land resources.

Finance minister Arun Jaitley presented the Union Budget 2017 in Parliament on Wednesday. Here are the key highlights of his budget speech:

http://www.livemint.com/Politics/HI...ll_article&utm_campaign=inshorts_full_article

[FONT=&quot]• Ban on all cash transactions above Rs3 lakh[/FONT]
[FONT=&quot]• Installation of 1 million Aadhaar-enabled point-of-sale (POS) machines by March, which will be scaled up to 2 million by September[/FONT]
[FONT=&quot]• Tax exemptions for manufacturing of POS card readers, mobile POS (mPOS) systems, fingerprint readers and iris scanners[/FONT]
[FONT=&quot]• Two new referral schemes to promote digital payments on Bharat Interface for Money (BHIM); one will be a bonus scheme for customers and the other will be a cash-back scheme for merchants[/FONT]
[FONT=&quot]• Tax relief for small businesses using cashless systems[/FONT]

 

[krish44]

Indias is dependant on corporate sector for growth.

There is nothing in the budget for them to cooperate with this govt.

Due to NPA witch hunts banks are wary of lending to them{ who would like to go to jail for doing their job }

Corporates mostly living of bank credits have become untouchables who in turn have stopped contributing to GDP.

Most plants have excess unused capacity.Demonetisation and reduced demand have forced most to lower their outputs.

Nothing much is going to happen in weeks to come.

Modi magic may wean after the state elections.

Now it is only wait and watch.

One can allocate a lot to the rural sector.

But the main issue is one of implementation on the ground.

Most states lack the machinery to make a difference at district and panchayat level.

Only one moves the state machinery of lakhs of employees to districts and villages, rural transformation can take place.

Which professional in health or education sector would work in villages or even in district head quarters.?

Others in engg [civil and others] required for rural roads and housing have to be compelled/compensated better to work in these places by contractors {Lower level workers of course are

bonded labour from poor states}.

Programs like rural sanitation [we are building toilets in rural areas where there is no water and people prefer the fields} ,electrification [putting up electric poles alone

does not mean electrification. Where is the power?] are grossly mismanaged. It is a bleak picture.

We have started and promoted a system of freebies. Who would like to work for a living in tamilnadu for example.?

 

[vgane]

Sri Vgane and all,

Thanks for sharing a serious of posts on this topic area.

I am trying to understand what major areas are neglected in this budget.

What opportunities are missed?

What priorities do people think should not have been emphasized?

Budgeting is a zero sum game. Recognizing this I will appreciate learning from anyone with in depth knowledge of the budget proposed

Thanks

Shri TKS,

Income tax relief is paltry...FM could have removed IT up to Rs 5.0 Lacs income...Also what is being done to generate jobs...Concrete plans were missing..

 

[krish44]

The stock markets jumping up is primarily because there is nothing negative in the budget .

It appears both foreign investors and local institutions both got into buying mode which normally does not happen at the same time.

Demand has shrunk due to demonetisation. There is no attempt at reviving it.

Big corporates only can contribute to growth in addition to agricultural growth.

They see no incentive for producing anything.

Unless govt meets industry leaders and fulfill their requirements of easy credit to spur growth, the picture is dismal.

Otherwise only govt only has to throw money into infra structure, housing and hope for the best.

Since no freebies for anybody in the budget, the poor and middle class are disappointed.

Now only state budgets have to be used for pleasing the have nots.

States like , tamilnadu have ready made schemes to give freebies to lower 50% of the population

Of course in return, they have to put up with liquor joints and sand mafias.lol

 

[tbs]

hi

even 20,000 bench mark of new york stock market....it gives new hope new administration in USA...

 

[tks]

Shri TKS,

Income tax relief is paltry...FM could have removed IT up to Rs 5.0 Lacs income...Also what is being done to generate jobs...Concrete plans were missing..

Thanks Sri Vgane

 

[vgane]

 

[vgane]

Snatching from the rich to the have-nots..A socialist budget

 

[vgane]

Another good initiative in budget!