The 2017-18 financial budget based on the objective to Transform, Energise and Clean India, is aimed at spurring economic growth, synergizing investments and establishing greater transparency. With 100% rural electrification, lowered tax rates for MSMEs, and increased allocation towards schemes like M-SIPS and Electronic Development Fund (EDF), the budget fosters positive steps to further accelerate manufacturing capabilities and boost employment in the country. High disposable income as a result of lower tax rates will lead to higher purchasing power of the individuals. This will lead to increase in demand of consumer goods.
Also, we are happy to learn that GST is on track and will be implemented in April 2017. In addition to this, the Abolishing of Foreign Investment Promotion Board to ease the inflow of Foreign Direct Investment (FDI) will expand investments significantly. All this will play an extremely important role in realization of Government’s dream of ‘Make in India’.