Fifth budget of Arun Jaitley as Finance Minister:
Finance Minister of India announced the budget plans, last week. Interesting point was that he could not manage to curtail fiscal deficit. Another highlight is that this budget aims at pushing rural economy and healthcare. No candy has been provided to tax paying middle class by way of reduction in income tax unlike last year when many argue that the relief was academic.
The accounting of budget 2017-18 is here. As may be seen the revenue from non corporation income tax improved by over 20% and this buoyancy has perhaps led to the Government to ignore the long standing demand to simplify the Income Tax laws.