It’s highly appreciable of Finance Minister who thrice submitted thanks to honest taxpayers in his address to the house. Such pat on the back further motivates taxpayers. This budget focuses more on the middle class and farmers. Relaxations in notional income, extension of 80IB, freedom to buy two residence instead one for saving of capital gains & likewise will give much needed relief for realty sector.
Rebate of no income tax up to Rs.5 lakh is welcome step & standard deduction increment from Rs. 40k to Rs. 50k, will deliver much respite to the middle class.
Rs.3 lakh crore being recovered through Insolvency and Bankruptcy Code, 2016 is a major achievement, which gives a clear message that siphoning of public money via bank loans by few will not be tolerated and can’t escape. Although tourism sector seemed missed. On the scale of 10, I give 9 marks to this Interim Budget.