The Union Budget 2017 and the perks it might offer
The upcoming budget on February 1, 2017 will be a significant game changer not only because it comes in the backdrop of demonetization and upcoming assembly elections in Uttar Pradesh and Punjab but also because the government might have to account for the windfall gain from the tax returns and unregistered income. It will also be interesting to see whether the government will register a fiscal deficit of 3% in GDP or more in the coming year.
Financial inclusions and increased output for rural and agricultural sector
The government will definitely push for a more inclusive form of digital payment structure in keeping with its financial reforms following demonetization. There will be measures in place to increase population in the tax ambit. The credit growth to productive sectors via banks will also rise following its dip during demonetization.
The government will most likely focus on railways and road to strengthen its infrastructure. National Investment and Infrastructure fund will receive an additional boost of a planned size of 40000 crores. There will also be various measures to increase foreign investment in India