A Pragmatic Budget
Finance minister Arun Jaitley has presented a pragmatic Budget sans populist measures. Despite the flaws in the way the demonetisation exercise had been carried out and its adverse impact on small businesses, no one can deny that the Budget paves the way for the emergence of an era of tax compliance. Measures to boost tax compliance include the one-page incometax form and halving tax on income from .₹ 2.5 lakh to .₹ 5 laks. The 5% cut in the incometax rate for smaller companies will give them a competitive edge. The attempt to bring transparency in political funding is also welcome.