It is against the background of declining economic growth and continuing disruptions caused by demonetisation that the Budget for 2017-18 had to be framed. There is considerable logic behind the prescription of a Budget deficit of 3% for the central government and 3% of GDP for all states together. We cannot afford to reduce the tax net.The Budget could have announced the changes in indirect taxes consistent with the new GST regime. One should not expect too much.The Budget presented on Wednesday is a workman-like Budget. But the impact on growth and investment will depend on how effectively and speedily the various programmes are implemented.

Source: Economic Times February 01, 2017 20:00 UTC