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Early Budget to accelerate implementation of public projects: Govt

The government has considered the various aspects relating to advancing the date of the presentation

Press Trust of India  |  New Delhi 

Newly appointed Ministers of State Finance Santosh Kumar Gangwar & Arjun Ram Meghwal called on FM Arun Jaitley and former MOS Finance Jayant Sinha at North Block, in New Delhi (pic: Ministry of Finance Twitter account)
Ministers of State Finance Santosh Kumar Gangwar & Arjun Ram Meghwal called on FM Arun Jaitley and former MOS Finance Jayant Sinha at North Block, in New Delhi (pic: Ministry of Finance Twitter account)

The government on Friday said the early presentation of will accelerate implementation of and the date would be finalised after taking into account the schedule for state elections.

A proposal was made for advancing the date of presentation from the last working day of February to February 1, 2017 or any other date as may be necessary, Minister of State for Finance said in a written reply to the Lok Sabha.

"While approving this proposal, Cabinet, in its meeting held on September 21 directed that for 2017-18, the date of presentation be determined taking into account the notification regarding calenders of state elections," Meghwal said.

He said that the government has considered the various aspects relating to advancing the date of the presentation.

Major advantages of the move include "operationalising the for new schemes/projects included in the right from the commencement of financial year and ministries/ departments can plan their expenditure allocations for the full year even better".

The benefit of new taxation measures involving legislative changes in central excise and service tax will accrue to the government from the commencement of the financial year, he said.

"Various stakeholders like business and industry are also likely to benefit from the advancement of presentation of Union as they would have greater clarity on tax measures," he said, adding it would also "help accelerate the process and timely delivery of services and implementation of schemes/projects".

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Early Budget to accelerate implementation of public projects: Govt

The government has considered the various aspects relating to advancing the date of the presentation

The government has considered the various aspects relating to advancing the date of the presentation
The government on Friday said the early presentation of will accelerate implementation of and the date would be finalised after taking into account the schedule for state elections.

A proposal was made for advancing the date of presentation from the last working day of February to February 1, 2017 or any other date as may be necessary, Minister of State for Finance said in a written reply to the Lok Sabha.

"While approving this proposal, Cabinet, in its meeting held on September 21 directed that for 2017-18, the date of presentation be determined taking into account the notification regarding calenders of state elections," Meghwal said.

He said that the government has considered the various aspects relating to advancing the date of the presentation.

Major advantages of the move include "operationalising the for new schemes/projects included in the right from the commencement of financial year and ministries/ departments can plan their expenditure allocations for the full year even better".

The benefit of new taxation measures involving legislative changes in central excise and service tax will accrue to the government from the commencement of the financial year, he said.

"Various stakeholders like business and industry are also likely to benefit from the advancement of presentation of Union as they would have greater clarity on tax measures," he said, adding it would also "help accelerate the process and timely delivery of services and implementation of schemes/projects".
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Business Standard
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Early Budget to accelerate implementation of public projects: Govt

The government has considered the various aspects relating to advancing the date of the presentation

The government on Friday said the early presentation of will accelerate implementation of and the date would be finalised after taking into account the schedule for state elections.

A proposal was made for advancing the date of presentation from the last working day of February to February 1, 2017 or any other date as may be necessary, Minister of State for Finance said in a written reply to the Lok Sabha.

"While approving this proposal, Cabinet, in its meeting held on September 21 directed that for 2017-18, the date of presentation be determined taking into account the notification regarding calenders of state elections," Meghwal said.

He said that the government has considered the various aspects relating to advancing the date of the presentation.

Major advantages of the move include "operationalising the for new schemes/projects included in the right from the commencement of financial year and ministries/ departments can plan their expenditure allocations for the full year even better".

The benefit of new taxation measures involving legislative changes in central excise and service tax will accrue to the government from the commencement of the financial year, he said.

"Various stakeholders like business and industry are also likely to benefit from the advancement of presentation of Union as they would have greater clarity on tax measures," he said, adding it would also "help accelerate the process and timely delivery of services and implementation of schemes/projects".

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Business Standard
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