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2017 Union budget of India

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started speech by quoting "Madam Speaker, On this auspicious day of Vasant Panchami, I rise to present the Budget for 2017-18. Spring is a season of optimism. I extend my warm greetings to everyone on this occasion."
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Finance Minister Arun Jaitley presented Finance Bill on 21 March 2017. He has suggested major overhaul in the bill. 40 changes have been suggested by him in the existing legislations. Some of the major changes are
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One page Income tax return to be filed for persons having Taxable income up to 5 lakhs other than income from Profits and Gains from Business or profession(PGBP).
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Railway budget will be merged with the Union budget and classification of plan and non-plan expenditure has been done away with starting from the year 2017 by
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Maximum limit for audit of specified assesses who opt for presumptive income (Section 44AD of Income Tax Act) scheme increased from 1 crore to 2 crores.
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and other documents presented as per the provisions of the Fiscal Responsibility and Budget Management Act, 2003. for the financial year 2017 – 2018.
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has quoted that the Agenda for 2017-18 is "Transform, Energise and Clean India" – TEC India. He further went to explain that TEC India means to
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Energise various sections of society, especially the youth and the vulnerable, and enable them to unleash their true potential
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Surcharge of 10% of tax payable on categories of individuals whose annual taxable income is between 50 lakhs and 1 crore
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To promote transparency in electoral funding, maximum donation of 2000 rupees in cash is restricted from one person.
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increased from 1,07,000 crores in the first half of last year to 1,45,000 crores in the first half of 2016–17.
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Existing rate of taxation for individual assesses between income of 2.5 lakhs to 5 lakhs reduced to 5%.
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Rs 48,000 crore allocated towards the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)
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The cash transaction limit will be brought down to Rs. 2 lakh from the erstwhile Rs. 3 lakh limit.
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Clean the country from the evils of corruption, black money and non-transparent political funding.
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No transaction above 3 lakhs through cash is permitted subject to certain exceptions
1279:"Budget 2017: Highest Ever Allocation For MGNREGA At Rs 48,000 Crore, Says Jaitley" 1057:"Union Budget 2017-18: Income Tax rate halved to 5 per cent for Rs 2.5-5 lakh slab" 161: 1258:
FULL SPEECH: Finance Minister Arun Jaitley's Budget Speech | Union Budget 2017-18
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FULL SPEECH: Finance Minister Arun Jaitley's Budget Speech | Union Budget 2017-18
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FULL SPEECH: Finance Minister Arun Jaitley's Budget Speech | Union Budget 2017-18
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FULL SPEECH: Finance Minister Arun Jaitley's Budget Speech | Union Budget 2017-18
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FULL SPEECH: Finance Minister Arun Jaitley's Budget Speech | Union Budget 2017-18
849:"Live: Budget 2017: Union Budget 2017 Updates, Analysis | Budget 2017 highlights" 848: 248: 99: 554:
The disclosure of political donations made by companies will be made mandatory.
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inflation is expected to remain within RBI’s mandated range of 2% to 6%".
1152:"Govt to abolish Foreign Investment Promotion Board: Finance Minister" 503:
Allocation of Rs 23,000 crore to the Pradhan Mantri Gramin Awas Yojana
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Appropriation Bill mandated by Article 114(3) of Constitution of India
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Transform the quality of governance and quality of life of our people
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After rebates, zero tax liability for people with income of 3 lakhs.
1296: 1192:"Budget 2017 Will Kickstart The Housing Sector, Says Deepak Parekh" 1172:"Union Budget 2017: PMAY's allocation increases to Rs 23,000 crore" 94: 1039:"Budget: Cash Transactions Over Rs 3 Lakh to Invite 100% Penalty" 313:
4.5 trillion or US$ 54 billion in 2023) (1.9%)
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7.7 trillion or US$ 92 billion in 2023) (3.2%)
1116:"Budget: Cash Donations to Political Parties Capped at Rs 2,000" 476:
All other categories will also get uniform benefit of Rs 12,500.
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with 21.47 lakh crore rupees (US$ 336.39 billion) budget size.
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Finance Bill mandated by Article110(a) of Constitution of India
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It's the first budget after major changes in the economy like
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The printing of the budget documents began with a traditional
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PAN Card would only be issued upon producing the Aadhar card.
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Aadhaar card should become mandatory for filing IT returns.
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have reached 361 billion US Dollars as on 20 January 2017.
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30 trillion or US$ 360 billion in 2023)
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36 trillion or US$ 430 billion in 2023)
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7.3 trillion or US$ 88 billion in 2023)
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30 trillion or US$ 360 billion in 2023)
1134:"Budget 2017: Government Decides To Abolish FIPB" 1486: 1254: 1231: 1208: 974: 926: 1312: 637: 635: 366:Demands for Grants mandated by Article113 of 1319: 1305: 632: 1108: 678: 676: 674: 672: 482:More than 1 crore: 15 percent surcharge 1487: 669: 1300: 1085: 1083: 1326: 874:"Highlights of Union Budget 2017-18" 643:"Expenditure of Government of India" 18: 443:2016 Indian banknote demonetisation 13: 1255:Rajya Sabha TV (1 February 2017), 1232:Rajya Sabha TV (1 February 2017), 1209:Rajya Sabha TV (1 February 2017), 1080: 975:Rajya Sabha TV (1 February 2017), 927:Rajya Sabha TV (1 February 2017), 498:Foreign Investment Promotion Board 14: 1521: 1292: 448: 360:(AFS) mandated by Article 112 of 93: 23: 1271: 1248: 1225: 1202: 1184: 1164: 1144: 1126: 1091:"Union Budget 2017: Highlights" 1069: 1049: 1031: 1011: 991: 968: 951:"Union Budget 2017: Highlights" 943: 920: 893: 866: 841: 535: 815: 789: 765: 740: 710: 598: 564: 524:As stated by finance minister 439:Goods and Services Tax (India) 1: 684:"Debt and Deficit Statistics" 558: 464: 325:http://www.indiabudget.nic.in 1076:Union Budget 2017 Highlights 752:www.parliamentofindia.nic.in 382:It was presented before the 7: 718:"THE CONSTITUTION OF INDIA" 10: 1526: 386:on 1 February 2017 by the 358:Annual Financial Statement 351:2017 Union Budget of India 1454: 1332: 773:"KEY TO BUDGET DOCUMENTS" 526:Foreign-exchange reserves 519:Foreign direct investment 508:Finance Minister of India 407:Finance Minister of India 399:Finance Minister of India 388:Finance Minister of India 331: 320: 273: 247: 221: 195: 172: 160: 149: 132: 124: 116: 106: 92: 606:"SUMMARY OF EXPENDITURE" 500:(FIPB) will be abolished 1505:2017 government budgets 1500:2017 in Indian economy 1495:Union budgets of India 748:"BUDGET IN PARLIAMENT" 154:Bharatiya Janata Party 1177:The Financial Express 368:Constitution of India 362:Constitution of India 88:Union Budget of India 785:on 15 February 2017. 512:Consumer price index 54:improve this article 1510:Modi administration 999:"Budget challenges" 696:Government of India 692:Ministry of Finance 655:Government of India 651:Ministry of Finance 618:Government of India 614:Ministry of Finance 584:Government of India 580:Ministry of Finance 459:Government of India 434:in January 2017.32 111:Parliament of India 89: 58:independent sources 1095:The Times of India 1024:The Indian Express 955:The Times of India 853:The Economic Times 405:In his speech the 196:Total expenditures 79: 1482: 1481: 1442: 1409: 1376: 1285:, 1 February 2017 1198:, 1 February 2017 1180:, 1 February 2017 1160:, 1 February 2017 1157:Business Standard 1140:, 1 February 2017 1122:, 2 February 2017 1065:, 1 February 2017 1045:, 2 February 2017 1027:, 29 January 2017 1007:, 29 January 2017 510:has stated that " 347: 346: 315:(Revenue deficit) 75: 74: 45:largely based on 16:Government budget 1517: 1440: 1407: 1374: 1327:Budgets of India 1321: 1314: 1307: 1298: 1297: 1287: 1286: 1275: 1269: 1268: 1267: 1265: 1252: 1246: 1245: 1244: 1242: 1229: 1223: 1222: 1221: 1219: 1206: 1200: 1199: 1188: 1182: 1181: 1168: 1162: 1161: 1148: 1142: 1141: 1130: 1124: 1123: 1112: 1106: 1105: 1103: 1101: 1087: 1078: 1073: 1067: 1066: 1053: 1047: 1046: 1035: 1029: 1028: 1015: 1009: 1008: 995: 989: 988: 987: 985: 972: 966: 965: 963: 961: 947: 941: 940: 939: 937: 924: 918: 917: 915: 913: 897: 891: 890: 888: 886: 870: 864: 863: 861: 859: 845: 839: 838: 836: 834: 819: 813: 812: 810: 808: 793: 787: 786: 784: 778:. 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February 2017 795: 794: 790: 782: 775: 771: 770: 766: 756: 754: 746: 745: 741: 731: 729: 728:on 2 April 2012 716: 715: 711: 701: 699: 686: 682: 681: 670: 660: 658: 645: 641: 640: 633: 623: 621: 608: 604: 603: 599: 589: 587: 574: 570: 569: 565: 561: 538: 467: 451: 343: 337: 314: 310: 309:(equivalent to 299: 298: 295: 291: 290:(equivalent to 280: 279: 266: 265:(equivalent to 255: 254: 241: 237: 236:(equivalent to 226: 225: 215: 211: 210:(equivalent to 200: 199: 188: 187:(equivalent to 177: 176: 139: 128:1 February 2017 120:1 February 2017 102: 100:Emblem of India 83: 81: 71: 65: 62: 51: 36:a press release 28: 24: 17: 12: 11: 5: 1523: 1513: 1512: 1507: 1502: 1497: 1480: 1479: 1477: 1476: 1471: 1466: 1460: 1458: 1452: 1451: 1449: 1448: 1443: 1435: 1430: 1425: 1420: 1415: 1410: 1402: 1397: 1392: 1387: 1382: 1377: 1369: 1364: 1359: 1354: 1349: 1344: 1338: 1336: 1330: 1329: 1324: 1323: 1316: 1309: 1301: 1294: 1293:External links 1291: 1289: 1288: 1270: 1247: 1224: 1201: 1183: 1163: 1143: 1125: 1107: 1079: 1068: 1048: 1030: 1010: 990: 967: 942: 919: 892: 865: 840: 814: 801:Indian Express 788: 764: 739: 709: 668: 631: 597: 562: 560: 557: 556: 555: 552: 549: 546: 537: 534: 533: 532: 529: 522: 515: 504: 501: 495: 492: 489: 486: 483: 480: 477: 474: 471: 466: 463: 450: 449:Railway budget 447: 425: 424: 421: 418: 380: 379: 376: 373: 370: 364: 345: 344: 338: 332: 329: 328: 322: 318: 317: 277: 271: 270: 252: 245: 244: 223: 219: 218: 197: 193: 192: 174: 170: 169: 164: 158: 157: 151: 147: 146: 134: 130: 129: 126: 122: 121: 118: 114: 113: 108: 104: 103: 98: 73: 72: 40:a news article 31: 29: 22: 15: 9: 6: 4: 3: 2: 1522: 1511: 1508: 1506: 1503: 1501: 1498: 1496: 1493: 1492: 1490: 1475: 1472: 1470: 1467: 1465: 1462: 1461: 1459: 1457: 1453: 1447: 1444: 1439: 1436: 1434: 1431: 1429: 1426: 1424: 1421: 1419: 1416: 1414: 1411: 1406: 1403: 1401: 1398: 1396: 1393: 1391: 1388: 1386: 1383: 1381: 1378: 1373: 1370: 1368: 1365: 1363: 1360: 1358: 1355: 1353: 1350: 1348: 1345: 1343: 1340: 1339: 1337: 1335: 1331: 1322: 1317: 1315: 1310: 1308: 1303: 1302: 1299: 1284: 1280: 1274: 1260: 1259: 1251: 1237: 1236: 1228: 1214: 1213: 1205: 1197: 1193: 1187: 1179: 1178: 1173: 1167: 1159: 1158: 1153: 1147: 1139: 1135: 1129: 1121: 1117: 1111: 1096: 1092: 1086: 1084: 1077: 1072: 1064: 1063: 1058: 1052: 1044: 1040: 1034: 1026: 1025: 1020: 1014: 1006: 1005: 1000: 994: 980: 979: 971: 956: 952: 946: 932: 931: 923: 908: 907: 902: 896: 881: 880: 875: 869: 854: 850: 844: 828: 824: 818: 802: 798: 792: 781: 774: 768: 753: 749: 743: 727: 723: 722:lawmin.nic.in 719: 713: 698: 697: 693: 685: 679: 677: 675: 673: 657: 656: 652: 644: 638: 636: 620: 619: 615: 607: 601: 586: 585: 581: 573: 567: 563: 553: 550: 547: 544: 543: 542: 530: 527: 523: 520: 516: 513: 509: 505: 502: 499: 496: 493: 490: 487: 484: 481: 478: 475: 472: 469: 468: 462: 460: 456: 455:Narendra Modi 446: 444: 440: 435: 433: 431: 422: 419: 416: 415: 414: 412: 408: 403: 400: 395: 393: 389: 385: 377: 374: 371: 369: 365: 363: 359: 356: 355: 354: 352: 341: 336: 330: 327:Official Site 326: 323: 319: 307: 302: 288: 283: 278: 276: 272: 263: 258: 253: 250: 246: 234: 229: 224: 220: 216:(grand total) 208: 203: 198: 194: 185: 180: 175: 173:Total revenue 171: 168: 165: 163: 159: 155: 152: 148: 143: 138: 135: 131: 127: 123: 119: 115: 112: 109: 105: 101: 96: 91: 77: 69: 59: 55: 49: 48: 42: 41: 37: 32:This article 30: 21: 20: 1394: 1282: 1273: 1262:, retrieved 1257: 1250: 1239:, retrieved 1234: 1227: 1216:, retrieved 1211: 1204: 1195: 1186: 1175: 1166: 1155: 1146: 1137: 1128: 1119: 1110: 1098:. 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Index

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improve this article
independent sources

Emblem of India
Parliament of India
16th
Lok Sabha
Bharatiya Janata Party
Finance minister
Arun Jaitley

crore

crore

crore
Debt

crore
Deficit

crore

crore
http://www.indiabudget.nic.in
2016
2018

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