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Budget 2017: See Inside Why this year’s Budget will be peculiar

Budget 2017: See Inside Why this year’s Budget will be peculiar

Let’s have a look at a key  of the upcoming Union Budget 2017.

            PAPERLESS BUDGET

– For the first time, a paperless Budget is going to be presented

– All the documents related to Budget will be presented online

– By logging on to Union Budget Information System, all the documents can be downloaded

– No Budget document can be accessed through pen drive or hard copy

      ADVANCEMENT OF BUDGET DATE

– The presentation of Budget has also been advanced this year

– It will be presented on February 1 as against the old practice of presenting it on the last working day of February

– Government wants to complete the Budget process between March 31 and April 15

NO DISTINCTION BETWEEN PLANNED AND NON-PLANNED EXPENDITURE

– The abolition of Planning Commission will also have its impact this year

– For the first time, there will be no distinction between planned and non-planned expenditure
GST

-Since the government is committed to implementing Goods and Services tax by July 1, indirect tax would be announced for the last time

             ECONOMIC SURVEY

– The Economic Survey will be presented at the first day of the Budget Session which will start on January 31

– As per the old practice, Economic Survey was presented after about five days of starting of Budget Session

               NO SEPARATE RAIL BUDGET

– This year there will not be any separate Rail Budget because it has been merged with Union Budget

– All the major announcements related to the Railway sector will be made during the Union Budget

CENTRAL SECTOR AND CENTRALLY SPONSORED SCHEMES

– No plan or scheme will be divided into state and central plan

– All the plans will come under Central sector and centrally sponsored schemes

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