Budget 2017: Know why this year's Budget will be peculiar

Budget 2017: Know why this year's Budget will be peculiar
Budget 2017: Know why this year's Budget will be peculiar

New Delhi: The presentation of Union Budget  2017 will be very distinct. Though this is going to be Finance Minister Arun Jaitley's fourth Budget, there are a couple of things that are going to make it very peculiar this time.

Let's have a look at a key peculiarities of the upcoming Union Budget 2017.

PAPERLESS BUDGET

- For the first time, a paperless Budget is going to be presented

- All the documents related to Budget will be presented online

- By logging on to Union Budget Information System, all the documents can be downloaded

- No Budget document can be accessed through pen drive or hard copy

ADVANCEMENT OF BUDGET DATE

- The presentation of Budget has also been advanced this year

- It will be presented on February 1 as against the old practice of presenting it on the last working day of February

- Government wants to complete the Budget process between March 31 and April 15

NO DISTINCTION BETWEEN PLANNED AND NON-PLANNED EXPENDITURE

- The abolition of Planning Commission will also have its impact this year

- For the first time, there will be no distinction between planned and non-planned expenditure

GST

-Since the government is committed to implementing Goods and Services tax by July 1, indirect tax would be announced for the last time

ECONOMIC SURVEY

- The Economic Survey will be presented at the first day of the Budget Session which will start on January 31

- As per the old practice, Economic Survey was presented after about five days of starting of Budget Session

NO SEPARATE RAIL BUDGET

- This year there will not be any separate Rail Budget because it has been merged with Union Budget

- All the major announcements related to the Railway sector will be made during the Union Budget

CENTRAL SECTOR AND CENTRALLY SPONSORED SCHEMES

- No plan or scheme will be divided into state and central plan

- All the plans will come under Central sector and centrally sponsored schemes

 

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NEXT Union Budget 2017 to be presented by FM Jaitley in Parliament today