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  Rashtriya Sahara Roznama Sahara
Budget 2017-18: Is it a Robinhood Budget?
Last Updated : 01 Feb 2017 07:51:50 PM IST
Finance Minister Arun Jaitley with Union Budget 2017-18
Finance Minister Arun Jaitley with Union Budget 2017-18
 

Take it from the rich and distribute it among the poor--The Union Budget 2017-18 presented by Finance Minister Arun Jaitley in the Parliament on Wednesday is more or less on these lines

Expectations are very high from the Finance Minister Arun Jaitley's Union Budget  2017-18 which he is currently presenting in the parliament.

Jaitley had presented a budget of Rs 19.8 lakh crore for the year 2016-17, an increase of 11 per cent over the 2015-16 budget estimate of Rs 17.8 lakh crore -- equivalent to the cash in circulation before the demonetisation of Rs 500 and Rs 1,000 notes in November.

 

On Tuesday, the latest edition of Economic Survey has called for lowering tax rates and stamp duties, quick adoption of goods and services tax and a check on over-zealous tax administration to restore higher growth.

Moreover, taking into account the possible fallout of the recent demonetisation of high value currency, the Survey has sharply cut the GDP growth for 2016-17 to 6.5 per cent, from 7.6 per cent last financial year.

The survey also called for societal shifts in narratives to overcome three long-standing meta-challenges: Inefficient redistribution, ambivalence about the private sector and property rights, and improving but still-challenged state capacity.
 



  • 12:51 : Lok Sabha adjourned till Friday
  • 12:51 : Lok Sabha adjourned after FM Arun Jaitley concludes his Budget 2017 speech
  • 12:50 : 15% surcharge on incomes above Rs 1 crore to continue: FM Jaitley
  • 12:47 : We have proposed to reduce existing rate of taxation of those with income between 2.5 lakh to 5 lakh from 10% to 5%
  • 12:46 : Surcharge of 10% for those whose annual income is Rs 50 lakh to 1 crore: FM Jaitley
  • 12:42 : An amendment being proposed to RBI Act to enable the issuance of electoral bonds for political funding: FM
  • 12:39 : Political parties will be entitled to receive donations by cheque or in the digital mode: Jaitley
  • 12:38 : Maximum cash donation any party can receive will be Rs 2000: Arun Jaitley
  • 12:38 : No transactions above Rs 3 lakh to be allowed in cash
  • 12:34 : Not to remove Minimum Alternative Tax in 2017-18; Propose to allow a carry forward of MAT for a period of 15 yrs as against 10 yrs now
  • 12:34 : SIT has suggested no cash transaction above Rs 3 lakhs. Govt has accepted this
  • 12:33 : I propose to reduce basic customs duty on LNG from 5% to 2.5% in 2017-18: FM
  • 12:31 : Capital gains tax to be exempted, for persons holding land from which land was pooled for creation of state capital of AP: Jaitley
  • 12:30 : Income tax for small companies with an annual turn over of 50 crore, now to pay 25%, a 5% reduction: FM
  • 12:24 : Due to Demonitisation advance tax on personal Income tax increased by 34.8%: FM Jaitley
  • 12:24 : Out of 3.7 crore who filed tax returns in 2015-16, only 24 lakh persons showed income above Rs 10 lakh: FM Jaitley
  • 12:23 : Fiscal Deficit target for 2017-18 is 3.2%: FM Jaitley
  • 12:23 : Total expenditure of budget 2017-18 has been placed at Rs 21.47 lakh crore: FM
  • 12:00 : We will introduce further FDI reforms: FM Arun Jaitley
  • 12:00 : The FIPB has successfully implemented e-filing and now we have decided to abolish Foreign Investement Promotion Board (FIPB): FM
  • 11:57 : We plan to eliminate Kala Azar and Filariasis by 2017, Leprosy by 2018, Measles by 2020 and Tuberculosis by 2025: Jaitley
  • 11:56 : We are taking steps to make India a global hub for electronics manufacturing: FM Arun Jaitley
  • 11:54 : Transport sector allocated Rs 2.41 Lakh Crore and Bharat Net Project allocated Rs 10,000 crore: FM Jaitley
  • 11:52 : Rs 1,31,000 crore for railways capex and development expenditure in 2017-18
  • 11:50 : By 2019, all coaches of Indian Railways will be fitted with Bio-toilets: Arun Jaitley
  • 11:49 : A new metro rail policy will be announced. The policy will open jobs for youths: FM
  • 11:49 : Around 500 railway stations to be made differently abled-friendly by providing lifts and escalators: Jaitley
  • 11:48 : Service charges on e-ticket booked through IRCTC will be withdrawn: FM
  • 11:46 : Rail safety fund with corpus of Rs 100,000 crore will be created over a period of 5 years: Jaitley
  • 11:45 : Steps will be taken to launch dedicated trains for pilgrimage and tourism: FM Jaitley
  • 11:44 : Two new AIIMS to be set up in Jharkhand and Gujarat: Jaitley
  • 11:43 : For senior citizens, Aadhar cards giving their health condition will be introduced: FM Jaitley
  • 11:38 : Incredible India second campaign will be launched soon: Arun Jaitley
  • 11:38 : Tourism is a big employment sector: Jaitley
  • 11:36 : Open defecation free villages are now being given priority for pipe to water supply: FM Jaitley
  • 11:34 : 100 India Internation skill centers will be established across the country: Arun Jaitley
  • 11:34 : For youth, proposed to introduce a system of measuring annual learning; Science to be given focus: Jaitley
  • 11:32 : Total allocation for rural, agricultural and allied sectors for 2017-18 is Rs 187223 cr, which is 24% higher than last year: FM
  • 11:32 : Finance Minister Arun Jaitley presents Budget 2017-18
  • 11:31 : 100 pc village electrification by 1 May, 2018: Arun Jaitley
  • 11:31 : We propose to complete 1 crore houses by 2019 for homeless: Jaitley
  • 11:30 : It is the highest ever allocation for MNREGA: Jaitley
  • 11:30 : Budget allocation to MNREGA increased to a record Rs 48,000 crore for 2017-18, from Rs 37,000 crore in 2016-17: FM Jaitley
  • 11:28 : Participation of women in MNREGA has increased to 55%: FM Arun Jaitley
  • 11:27 : Target of agricultural loans to farmers set at record Rs 10 lakh crore in 2017-18: Arun Jaitley
  • 11:24 : We will make 50,000 gram panchayat poverty free by 2019
  • 11:24 : Dairy processing infrastructure fund will be set up under NABARD, with fund of 8,000 crore: Jaitley
  • 11:21 : Will setup a mini lab in krishi vigyan kendras: FM Jaitley
  • 11:20 : My approach in preparing the Budget is to spend more on rural areas, infrastructure and poverty alleviation with fiscal prudence: Jaitley
  • 11:17 : Our agenda is Transform, Energise and Clean India, that is Tech India, FM said
  • 11:16 : Merger of Rail budget with General Budget is a historic step
  • 11:16 : Budget 2017-18 contains three majour reforms: Finance Minister Arun Jaitley
  • 11:13 : Demonetisation seeks to create a GDP which is bigger, cleaner and real, says Jaitley
  • 11:12 : India has become 6th largest manufacturing company, it was earlier on 9th place: Jaitley
  • 11:11 : FM Arun Jaitley presenting the Union Budget 2017-18 in the Lok Sabha
  • 11:09 : Demonetisation was a bold and decisive measure: Jaitley
  • 11:08 : India is seen as engine of global growth, have witnessed historic reform in last one year, says Jaitley
  • 11:07 : The focus will be on energizing our youth, to reap benefits of growth & employment: FM Jaitley
  • 11:06 : Inflation which was in double digits has been slowed and growth has been restored, says FM Jaitley
  • 11:05 : We have moved from a discretionary administration to a policy-based administration, Jaitley says
  • 11:03 : I express gratitude to people for their strong support: FM Jaitley
  • 11:03 : The Govt is now seen as a trusted custodian of public money: Jaitley
  • 11:02 : Arun Jaitley starts speaking in the Lok Sabha amid opposition uproar
  • 11:01 : Finance Minister Arun Jaitley presents Budget 2017-18
  • 10:22 : Watch me live presenting the Union Budget 2017 at 11 am, tweets Arun Jaitley
  • 10:01 : President gives his assent allowing FM to present Union Budget 2017
  • 09:59 : Cabinet meeting to be held shortly in Parliament
  • 09:58 : Government indicates Budget 2017 will proceed as planned
  • 09:58 : Finance Minister Arun Jaitley reaches Parliament
  • 09:16 : Budget 2017 copies reach Parliament
  • 09:16 : Finance Minister Arun Jaitley arrives at North Block
Saharasamay Desk/IANS
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