New Delhi, January 24
Both banking sectors and industrial groups are expecting the 2017 budget will be people-friendly. Public expectations on the budget rose in the wake of demonetization, especially middle-class people have high hopes on Finance Minister Arun Jaitley’s budget.
There are chances for the new budget to fulfill not only their dreams but also other groups. Especially the income tax limit is reportedly would be increased from Rs 2.5 to Rs 4 lakhs, which will give some soothing to employees.
For the first time after independence, both general and railway budgets are going to be presented at the same time and that too on February 1, one month in advance against the traditional practice.
The budget is expected to promote cashless transactions and provide discounts on debit/credit cards payments. The budget may give relief to farmers also. All eyes are on the 2017 budget after demonetization and everyone has their expectations.
Analysts observed that the Centre faced public opposition on note ban and also failed to get the expected benefits. In this context, the union government will introduce budget to gain public support and also to woo the voters of the five states which are going to elections.