Indian Union Budget, Madanapalle Institute of Technology & Science, MITS, Central Budget of India-2017

1. MADANAPALLE INSTITUTE OF TECHNOLOGY AND
SCIENCE
(AUTONOMOUS)
Presented by
K. Prahlad
17691E00C5
Guidance given by
Dr. Rana Prathap
Dept. Of Management

2. Union Budget - 2017
Union budget 2017, presented by Finance Minister Arun Jaitley on February, 2017, was
broadly focused on 10 themes.
1) The Farming Sector
2) The Rural Population
3) The Youth
4) The Poor and Underprivileged Health Care
5) Infrastructure
6) The Financial Sector for Stronger Institutions
7) Speedy Accountability
8) Public Services
9) Prudent Fiscal Management
10)Tax Administration for the Honest.

3. Financial Sector
◦ FDI policy reforms – more than 90pc Of FDI inflows are now automated.
◦ Share of Railway PSE like IRCTC will be listed on stock exchanges.
◦ Foreign Investment Promotion Board will be abolished.
◦ Revised mechanism to ensure time – bond listing of CPSEs.
◦ Pradhan Mantri Mudra Yojana lending target fixed at Rs. 2.44 lakh crore for 2017-18.

4. ◦ Digital India – BHIM app will be unleash mobile phone revolution.
◦ The government will introduce two schemes to promote BHIM App
– referral bonus for the users and cash back for the traders.
◦ Negotiable Instrument Act might be amended.
◦ Head post office as the central office for rendering passport services.

5. Personal Income Tax
◦ Existing rate of tax for individuals between Rs. 250,000 – Rs. 500,000 is reduced to 5pc
from 10pc.
◦ Simple one page return for people with an annual income of Rs. 500,000 other than
the business income.
◦ People filling IT returns for the first time will not come under any government
scrutiny.
◦ 10pc surcharge on individuals income above Rs. 500,000 and upto Rs. 1 crore
◦ 15pc surcharge on individuals income above Rs. 1 crore & remain same.

6. Thank you….
🙏 🙏 🙏