Published on 1/02/2017 2:51:51 PM | Source: Poshika Financial Ecosystem Pvt Ltd
In long term basis government focus on rural sector, youth and digital would gradually upsurge the economy by Mr. Shachindra Nath - Poshika Financial Ecosystem Pvt Ltd
Below a quick Budget Comment by Mr. Shachindra Nath, Investor | Mentor | Advisor, Poshika Financial Ecosystem (P) Limited
In long term basis government focus on rural sector, youth and digital would gradually upsurge the economy. The key highlights of the budget is abolishment of FIPB and awarding infrastructure status to Affordable Housing Sector. On Financial Sector reforms this budget missed the opportunity of bringing structural reform of financial sector, only 10000 Crores of allocation for banks is far too short of the growing problems banks. Relaxation in personal taxation was a welcome step, however budget speech explained the gap in non-tax compliance nature of our society but no structural change was announced in compliance and collection of taxes. Given increase allocation towards rural economy this budget would depend high on tax compliance and collection to maintain same level of fiscal deficit.
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