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Reaction of People after Union Budget 2017


Bangalore, 2nd February 2017: Finance Minister Arun Jaitley has announced the 2017 budget yesterday. According to Jaitley, this time the union budget has been framed mainly focusing the farmers and rural population, youth, financial sector, digitisation of transactions, public services, prudent fiscal management, and taxation. It was the occasion after 92 years when the 2017-18 union and railway budget have been announced together on the same day.


Jaitley's budget has received mixed reactions from industry leaders, politicians, experts and the Twitterati.

Nasscom: “The Union Budget 2017 reinforces government’s reliance on technology for achieving development goals, as it focuses on Infrastructure and empowering startups and SMEs, although IT industry expectations on facilitative proposals remain largely unmet... The budget evangelises digital payments and infrastructure, along with promoting a transparent business environment”.

Varun Berry, managing director, Britannia Industries Ltd:  “Rural markets have suffered for the longestperiod of time. This year’s been an okay monsoon; the last two years have been very bad. And then demonetization came, so it slid again. But hopefully with these measures coming in, I’m sure that the rural economy is going to start to spur once again and that’s going to be very good for companies like ours. That’s really is the next frontier as far as consumption is concerned.”

Vijay Shekhar Sharma, Paytm Founder & CEO:
“Every person from a small shops to consumers are  pushed towards the digital economy. Tax benefits, incentives to use digital payments and extending loans based on a digital footprint will create a larger merchant ecosystem for digital payments”

Rahul Gandhi:
“We were expecting fireworks, instead it was a damp squib. It is just ‘sher-o shayari’ in the budget. There is nothing for farmers and youth and nothing for job creation. There is no clear vision,”.

Power minister Piyush Goyal:
“Congratulate @arunjaitley ji on reform oriented budget with concessionsto middle class & SMEs while maintaining taxes through compliance,” .

Deepak Parekh, chairman, HDFC
: “A good budget, has done a lot for housing and for rural development. Disappointed with no announcement on corporate tax”.

Hence, the Union Budget and The Railway Budget reflects the components which are influenced by recent demonization which occurred in the Nation and mainly inclined towards the common citizens and primary sector.











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