ICSI welcomes Union Budget proposals

Shyam Agrawal, ICSI President, welcomes Union Budget 2017-18 with a focus on stimulating growth, providing relief to middle class, affordable housing, curbing black money, promoting digital economy, transparency in electoral funding and simplification of tax administration.

The Budget marks a major shift owing to the preponed presentation of the Budget for the first time on 1st February as well as merger of Rail Budget with General Budget, the doing away with the plan and non-plan segregation of expenditure, and presenting information under the heads of revenue and capital expenditure. It was also the last budget under the current indirect tax regime which would be subsumed by GST soon.

ICSI applauds the measures in the Budget focussing on youth empowerment, social sector, quality education, development of infrastructure, railways, agriculture and rural sector, MSMEs and capital markets. The reforms gives due recognition to greater transparency, public service, upliftment of poor and underprivileged sections of the society and prudent fiscal management.