The expectations from finance minister Arun Jaitley’s fourth Budget were high, particularly on the back of the demonetisation drive. Some key announcements stand out:The 5% relaxation in corporate tax for MSMEs and redefining MSMEs through a turnover criteria will be a significant game changer. This, along with the GST, will help create employment.The provision of infrastructure status to affordable housing will create forward and backward linkages with the rest of the economy. These 10 focus areas will help boost growth, enhance productivity, further rein in inflation, and infuse transparency into commercial activities, delivery of public services, and political funding.The combination of fiscal discipline, TEC agenda, consumptioninvestment revival, and emphasis on transparency should create a virtuous cycle of higher, inclusive and sustainable growth. I rate the Budget a resounding 9 on 10.The authour is Managing Director YES Bank .

Source: Economic Times February 01, 2017 21:07 UTC