budget speech

The finance minister Arun Jaitley will present Indian Union Budget 2017-18 on February 1, 2017.

Departing from the age-old tradition of presenting the Union Budget on the last working day of February, the Narendra Modi government announced that it will now be presented on February 1. It has also decided to merge the Railway Budget with the Union Budget. Now the Union Budget and Railway Budget will be announced on same day.

In this budget, the government may hike service tax rate to 16-18 per cent from the current 15 per cent as a precursor to the GST rollout. The move, that will make flying, eating out, phone bills and a host of other services expensive, would be an attempt to take the rates closer to the proposed tax slabs for GST.

The impact of note ban on economic growth, fiscal deficit, and jobs and taxes are set to feature prominently in Arun Jaitley's budget speech of 2017.

Get the live updates from Arun Jaitley's budget speech 2017 in Parliament

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