The Union Budget 2016-17 focuses on boosting the overall economy with an eye on supporting the small tax payers and the investors. The Finance Minister announced a slew of reforms and a number of new schemes and tax exemptions; increased the allocation for various pro-growth sectors. The Budget announced nine transformative pillars of the economy that need focus. These include

  • agriculture and farmer welfare
  • rural sector
  • social sector
  • education and job creation
  • infrastructure investment
  • financial reforms
  • ease of doing business
  • fiscal discipline and
  • tax reforms to reduce compliance burden.

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