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Experts Laud Union Budget, Say Pro-People


01 February 2017

Hrushikesh Mishra


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Bhubaneswar: Experts from various fields have praised the union budget 2017-18 and said that it is intended to reboot the economy after the demonetisation slowdown.

Speaking to Ommcom News, senior journalist Dillip Satapathy pointed out that the budget has enough favorable provisions for real estate, agricultural and MSME sectors. If implemented properly, it will create enough job opportunities for the youth.

He said, “Income tax for lower income households is reduced. It will help the common people to save and invest. Corporate taxes for smaller business houses are also lessened. It will help smaller business houses compete with bigger firms and cause greater employment opportunities.”

He also claimed that poverty-stricken states like Odisha will be immensely benefitted from the budget as it aims at eradicating poverty from 50 thousand Gram Panchayats by 2019.

“This is quite an ambitious target. It will definitely help many poor villages of Odisha as well. Along with that, the Government has also allotted sufficient funds for development of railways in the state. A crude oil project has also been proposed in the state. These initiatives deserve to be praised.”

Renowned Chartered Accountant Amit Agarwal also has similar views. However, he said that the provisions are far less than expectations.

“We expected the tax exemption limit to be raised and greater tax benefits. But the Government has maintained the status quo. But yes, the reduction of tax rates is a welcome step. It will benefit almost half of the taxpaying population. Major thrust has been given to priority sectors like agriculture, education and rural development. We can definitely call it a pro-people and pro- farmer budget.”

However, former finance minister of Odisha Panchanan Kanungo has expressed dissatisfaction on the budget. He said, “Fewer funds have been allocated for the state governments in this budget.”

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Amit Agarwal, Chartered Accountant

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Panchanan Kanungo, Former Finance Minister, Odisha

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Dillip Satapathy, Resident Editor, Business Standard