When is Union Budget 2017?
Union Minister Arun Jaitley will present the Union Budget for 2017-2018 fiscal on Wednesday, February 1, 2017. Jaitley is likely to break away from tradition and after a period of 92 years of separate presentation of Union Budget and Railway budget, both will be presented as a combined document on an advanced date than the commonly followed schedule of end of Wednesday.
Where can you watch the LIVE streaming of Budget 2017?
The Union Budget 2017 will be telecast LIVE on Lok Sabha television from 11 am onwards on Wednesday. It can also be seen on the YouTube webcast of Rajya Sabha TV.
Meanwhile, there are some expectations from Finance Minister Jaitley’s Union Budget for 2017-18. Some of them are:
1. Income Tax slabs and rates may see favourable change as demonetisation and GST will play key roles this fiscal. As a fallout of demonetisation, consumer spending is expected to be low so a relaxation in tax slab structures may be on the cards. Rationalisation of tax structure is also expected keeping in mind the disruption caused by GST.
2. Steps to reduce ambiguity and multiplicity of regulations in transport sector to bring clarity to the industry and boost the transport industry, particularly with the surge of business due to start-ups taking over the market. This will make it easier for consumers to avail app-aggregated cab/shuttle services like Uber and Ola while also encouraging startups to expand in the market.
3. Basic tax exemption limit is expected to be increased . For financial security purposes, various sections have heavily lobbied for National Pension Scheme which may be converted from an EET to EEE based programme and the finance minister will be expected to address the issue.