Budget 2017 is a progressive budget which aims at a holistic development of the entire economy with a 25.4 per cent higher capital expenditure slated for FY 2017-18. The infrastructure sector will get an investment of `3,96,135 crores including roads, railways, ports, airports, construction etc and also affordable housing which will now get an infrastructure status. The 3500 kilometers of railway lines, 1 crore houses for poor by 2019, improved connectivity between cities, affordable house building schemes will all translate to robust economic development. At the same time, 24 per cent higher than previous year’s allocation towards rural, agriculture and allied sectors will strengthen rural India. The benefits announced for medium and small scale industries will also boost the manufacturing sector.
All these announcements and investments in these sectors are expected to translate in improving the momentum of infra, rural and MSME sector and given that steel will be one of the key requirements for these sectors, we expect that domestic demand scenario of steel will improve handsomely.”
PK Singh, SAIl Chairman
Ram Vilas Paswan, Minister for Consumer Affairs and Public Distribution has admired the budget presented by finance Minister, Arun Jaitely. He congratulated Jaitley for presenting this historic budget which is full of commitment to socio-economic - political reforms. He said that the budget 2017 is focused on nation building and infrastructure growth. This budget will fulfill aspirations of farmers, youth, poor, women and weaker sections. It will also fill the gap between “Rural India” and “Urban India”.
Budget-2017 is a very positive budget on election funding, affordable housing, tax benefits for middle class and social security. This Budget has brought transparency in funding of political parties. Now, donations above `2000 must be made in cheque/draft.
This is a pro-poor budget. One crore housing dwelling units will be provided to homeless by 2019. He said that this budget is devoted to the village, farmers and SC/ST welfare.