New Delhi, Mar 1 (KNN) Budget 2016-17 adheres to the fiscal consolidation roadmap and sticks to the fiscal deficit target of 3.5%, said Yes Bank, India's fifth largest private sector lender.

The analysis report of Yes Bank on Union Budget 2016-17 highlights that the Budget addresses medium-term rural and social issues through measures such as constitution of a National SC/ST Hub in the MSME Ministry in partnership with industry associations.

Apart from bringing relief to the small tax payers, the Union Budget also gives a boost to Make in India initiative.

There has been “Suitable changes in customs and excise duty rates on certain inputs, raw materials, intermediaries and components simplify procedures, so as to reduce costs and improve competitiveness of domestic industry,” analyses the report.

The Budget gives impetus on skill development, however, no specific measures on governance was announced, highlights the report.

The report has categorized the Budget into four themes namely - Fiscal consolidation; Focus on 3 Rs: Rural, Road, and Rail; Moderate Deterioration in Quality of Adjustment; and Reassessment of the Medium Term Fiscal Framework.

To view the full report, please click the link below:
http://fisme.org.in/document/Union%20Budget%20FY17.pdf

(KNN Bureau/ Yes Bank)