Praising Finance Minister Arun Jaitley's forward looking budget 2017, US-India Business Council (USIBC) said that Jaitley has done a commendable job in creating a vision that will boost domestic economy while supporting foreign investors. The US Industry Body also noted that the budget is a fiscally sound agenda that doubles down on Modi's stated goals of improving the ease of doing business by reducing red tape, investing in Skill India along with attempts to reduce the negative impact of note ban.
President of the USIBC, Mukesh Aghi, said that implementing the budget at a time of global uncertainty can be a challenging task but still the minister has done a good job in announcing propelling measures for economy. Aghi also said that the industry welcomes positive steps in the affordable housing segment, bringing the ‘Housing for All’ scheme a step closer to reality. He further stated that relaxation on long term capital gains and infrastructure status to the segment will boost supply in the market and added that the Council looks forward to more announcements on liberalisation in certain sectors in the near-term.
According to the USIBC, forward looking annual budget deepens the government's move towards a digital economy, while remaining committed to attracting foreign investment, increasing infrastructure spending in roads and civil aviation, rationalising the tax structure, driving domestic growth while also bringing in rural India into the fold of the digital economy.