Historic Union Budget 2017 to be presented by FM in Parliament today

New Delhi: Finance Minister Arun Jaitley will present the Union Budget for the financial year 2017-18 on Wednesday aimed at boosting economic growth through additional spending.

The Budget this time is not only expected to assuage the common man with widely expected income tax sops, the very act of bringing it forward also means each department and ministry of the government will get funds for FY18 by the beginning of the fiscal year.

This Budget is also historic for another reason as well – after 92 years, there will be no separate Rail Budget. The Rail Budget will be merged into the General Budget.

The Budget 2017 comes less than three months after Prime Minister Narendra Modi’s bold and risky gamble to outlaw high-value old currency bills, which has slammed the brakes on Asia’s third-largest economy.

With uncertainty over how quickly the economy will recover, economists say the new Budget is likely to echo what India has become accustomed to in the past — expansion of spending programmes rather than fiscal restraint.

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Source:Zee news

Finance Minister Of India