"VISIONARY BUDGET"
The Budget 2017 is holistic in approach whose aim is to truly transform India. It has taken care of each segment. Budget reiterated Modi ji's commitment to double farmer's income over next 5 years. The other people friendly measure which deserve mention is 5% tax rebate (₹12,500) on income of ₹2.5 lakh to 5 lakh. Reducing the limit of cash donations of political parties to just ₹2000 is one of the most commendable moves made in this Union budget. The most distinctive part of Finance Minister's speech is detailed explanation of how India is largely a non tax-compliant country.
In my opinion the lack of tax compliance has come about because of un-holy nexus between tax officials, Chartered accountant. and business owners. Though Budget 2017 cannot be regarded as populist or election budget but ahead of elections, it can't be denied that Centre's focus is on middle class people, farmers, poors & dalits.
This budget encourages a shift to digital platforms. Initiatives like cash back to promote Aadhar-Pay and BHIM app will encourage consumers and businessmen to go cashless. The idea of Universal Basic Income (UBI) in economic survey is revolutionary and needs to be debated and discussed as UBI is an alternative to the current structure of subsidies.
All in all I can say my wishlist not implemented but its a visionary budget which did justice with Modi Ji's slogan of "Sabka Sath, Sabka Vikas".
-Romit Chandrakar, Student-HNLU, Raipur, Chhattisgarh
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