![]() | This article reads like a press release or a news article and may be largely based on routine coverage .(July 2017) |
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Submitted to | Parliament of India |
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Presented | 1 February 2017 |
Passed | 1 February 2017 |
Parliament | 16th (Lok Sabha) |
Party | Bharatiya Janata Party (BJP) |
Finance minister | Arun Jaitley |
Total revenue | ₹ 2,146,735 crore (equivalent to ₹30 trillionorUS$360 billion in 2023) [1] |
Total expenditures | ₹ 2,531,762 crore (equivalent to ₹36 trillionorUS$430 billion in 2023) (grand total) [2] |
Program Spending | ₹ 2,146,734 crore (equivalent to ₹30 trillionorUS$360 billion in 2023) (through budget) [3] |
Debt payment | ₹ 523,078 crore (equivalent to ₹7.3 trillionorUS$88 billion in 2023) [3] |
Deficit | ₹ 546,532 crore (equivalent to ₹7.7 trillionorUS$92 billion in 2023) [4] (3.2%) [4] (Fiscal deficit) ₹ 321,163 crore (equivalent to ₹4.5 trillionorUS$54 billion in 2023) [4] (1.9%) [4] (Revenue deficit) |
Website | http://www.indiabudget.nic.in Official Site |
‹ 2016 2018› |
The 2017 Union Budget of India is the [5] [6] [7]
It was presented before the parliament on 1 February 2017 by the Finance Minister of India, Arun Jaitley with 21.47 lakh crore rupees (US$336.39 billion) budget size. [8] [9] [10] [11] [12]
The Finance Minister of India started speech by quoting "Madam Speaker, On this auspicious day of Vasant Panchami, I rise to present the Budget for 2017-18. Spring is a season of optimism. I extend my warm greetings to everyone on this occasion." [13]
In his speech the Finance Minister of India, Arun Jaitley has quoted that the Agenda for 2017-18 is "Transform, Energise and Clean India" – TEC India. [14] He further went to explain that TEC India means to [15]
The printing of the budget documents began with a traditional Halwa ceremony in January 2017.32
It's the first budget after major changes in the economy like Goods and Services Tax (India) and 2016 Indian banknote demonetisation.
Railway budget will be merged with the Union budget and classification of plan and non-plan expenditure has been done away with starting from the year 2017 by Narendra Modi led Government of India. [16] [17]
Finance Minister Arun Jaitley presented Finance Bill on 21 March 2017. He has suggested major overhaul in the bill. 40 changes have been suggested by him in the existing legislations. Some of the major changes are
Arun Jaitley was an Indian politician and attorney. A member of the Bharatiya Janata Party, Jaitley served as the Minister of Finance and Corporate Affairs of the Government of India from 2014 to 2019. Jaitley previously held the cabinet portfolios of Finance, Defence, Corporate Affairs, Commerce and Industry, and Law and Justice in the Vajpayee government and Narendra Modi government.
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