The Union Budget 2017 Decoded
Budget 2017 announced by the Finance Minister Arun Jaitley is very comprehensive given the fact that it impacts both lower and upper strata of the society to a very large extent– reducing the individual tax rate from 10% to 5% for the lower slab, reducing the tax rate from 30% to 25% for MSMEs having a turnover up to Rs.50 Crores; imposing a surcharge of 10% on individual incomes in the range of Rs.50 lacs to Rs.1 Crore are the breakthrough proposals announced. Relaxation in the promoters’ holding limit for carry forwards of losses and the 3 –year tax holiday provided to start-ups will further boost the Prime Minister’s “Start Up India” campaign. For the educational sector, the FM announced online education portal- “Swayam”, which offers virtual education for 350 online courses, which provides more thrust to the government’s Digital India movement.







