2017 Union budget of India
The 2017 Union Budget of India is the
- Annual Financial Statement (AFS) mandated by Article 112 of Constitution of India
- Demands for Grants mandated by Article113 of Constitution of India
- Appropriation Bill mandated by Article 114(3) of Constitution of India
- Finance Bill mandated by Article110(a) of Constitution of India
- and other documents presented as per the provisions of the Fiscal Responsibility and Budget Management Act, 2003. for the financial year 2017 – 2018.
Emblem of India | |
| Submitted to | Parliament of India |
|---|---|
| Presented | 1 February 2017 |
| Passed | 1 February 2017 |
| Parliament | 16th (Lok Sabha) |
| Party | Bharatiya Janata Party (BJP) |
| Finance minister | Arun Jaitley |
| Total revenue | ₹2,146,735 crore (equivalent to ₹30 trillion or US$380 billion in 2023) |
| Total expenditures | ₹2,531,762 crore (equivalent to ₹36 trillion or US$440 billion in 2023) (grand total) |
| Program Spending | ₹2,146,734 crore (equivalent to ₹30 trillion or US$380 billion in 2023) (through budget) |
| Debt payment | ₹523,078 crore (equivalent to ₹7.3 trillion or US$92 billion in 2023) |
| Deficit | ₹546,532 crore (equivalent to ₹7.7 trillion or US$96 billion in 2023) (3.2%) (Fiscal deficit) ₹321,163 crore (equivalent to ₹4.5 trillion or US$56 billion in 2023) (1.9%) (Revenue deficit) |
| Website | http://www.indiabudget.nic.in Official Site |
‹ 2016 2018 › | |
It was presented before the parliament on 1 February 2017 by the Finance Minister of India, Arun Jaitley with 21.47 lakh crore rupees (US$336.39 billion) budget size.
The Finance Minister of India started speech by quoting "Madam Speaker, On this auspicious day of Vasant Panchami, I rise to present the Budget for 2017-18. Spring is a season of optimism. I extend my warm greetings to everyone on this occasion."
In his speech the Finance Minister of India, Arun Jaitley has quoted that the Agenda for 2017-18 is "Transform, Energise and Clean India" – TEC India. He further went to explain that TEC India means to
- Transform the quality of governance and quality of life of our people
- Energise various sections of society, especially the youth and the vulnerable, and enable them to unleash their true potential
- Clean the country from the evils of corruption, black money and non-transparent political funding.
The printing of the budget documents began with a traditional Halwa ceremony in January 2017.32
It's the first budget after major changes in the economy like Goods and Services Tax (India) and 2016 Indian banknote demonetisation.