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
The Budget also underlined that the government is firm on its course towards fiscal consolidation without compromising on its development agenda.
An Overview of the Union Budget 2016-17, prepared by Grant Thornton serves as a single point of information on the Union Budget 2016-17. Through this report, our sector experts provide an insight into how the various provisions may have an impact on the sector. The report gives a concise explanation on various direct and indirect tax proposals along with a succinct analysis for your understanding. It also presents an analysis on the likely impact of the proposals listed in the Finance Bill 2016..
While the detailed report presents an overview, individual sector reports prepared by our experts give a snapshot of developments across these sectors and share our views on the newly introduced policies in the Budget.