01 Feb 2017, 12:51 pm

"The Union Budget 2017 -18 is an expected exercise in moderation," said The Bengal Chamber President Sutanu Ghosh in a statement.
"The Budget, which aims to enable the funds to be deployed for a full financial year has quite expectedly allocated record spends for the Rural Sector, including MGNREGA, PMGSY, 100% rural electrification, Pradhan Mantri Awaas Yojana etc. and also raised capital expenditure by 25.4%, apart from according Infrastructure status to affordable housing and allotting a high Rs. 55,000 crores for Indian Railways. The capital expenditure for Railways is pegged at Rs. 1.31 lakh crores. Overall, the total allocation for the Transport Sector, in which Railways play a major part and which has been brought under the ambit of the Union Budget for the very first time, is a record Rs. 2.41 lakh crores. The total outlay for Infrastructure spending is Rs. 3.96 lakh crore," he said.
"Based on a 10 point theme, the Budget focuses on fiscal discipline and consolidation by pegging a fiscal deficit target of 3.2% as against the current 3.5% and Revenue Deficit targets of 2.1% for FY 17-18 and 1.9 % for FY 18-19 against a 2% target in FRBM. Providing a 5% corporate tax relief, by reducing the rate from 30% to 25%, to MSMEs with a turnover of less than Rs. 50 crores and also abolishing FIPB to boost investor sentiment are measures, which coupled with reduction of the rate of personal income tax to 5% for the income group Rs. 2.5-5 lac and a surcharge of 10% for income group Rs. 50 lakh -1 crore are part of some of the announcements focused on widening the ambit of taxation," he said.
"Listing for CPSEs, promotion of digital transactions through the Aadhar route and expectations of increased lendings by banks, agriculture credit push of Rs. 10 lakh crore to galvanize rural purchasing power, investments on youth and skills are the noticeable areas in the Budget," he said.
Union Finance Minister Arun Jaitley presented the budget on Wednesday.
- Massive fire breaks out at London electric substation, Heathrow Airport closed
- Air India flight services affected at Heathrow Airport amid London power outage
- Prabha Khaitan Foundation celebrates 'Vasant Utsav' at Indian Museum Kolkata
- Detect Early, Protect Kidney Health
- Department of Atomic Energy, Rotary District 3291 host collaboration seminar
- Kolkata: Ethnic Boutique presents 'Elegance in Empowerment' to celebrate women achievers
- Zero Thalassaemia Foundation launches mission to free India from the disease
- Acclaimed Author Soma Bose continues to inspire with her powerful storytelling
- Kolkata: Rotary Club of Calcutta Sun City hosts international cultural exchange with Russia at ICCR
- Second edition of India's first and only witch festival held in Kolkata
Marking a significant milestone in its ambitious expansion, Tata Group-owned Air India Express inducted its 100th aircraft, a Boeing 737-8, featuring ‘Chittara’ tail art inspired by Karnataka’s traditional mural painting.
Marking a significant milestone in its ambitious expansion, Tata Group-owned Air India Express inducted its 100th aircraft, a Boeing 737-8, featuring ‘Chittara’ tail art inspired by Karnataka’s traditional mural painting.
Indian airline IndiGo has announced the launch of daily direct flights connecting Bengaluru, Karnataka with Ayodhya, Uttar Pradesh, effective from December 31, 2024.