A Study of Implications of Budget 2016-2017

Abstract

The union budget 2016-17 has fulfilled the long felt need of, the back bone of Indian economy, agriculturist, in some ways though not wholesomely. Our country is following planned economic system ever since the adoptions of five years plan. More than 70% of the nation’s GDP is financed through agricultural sector. An equal percentage of population as well either directly or indirectly relying on this. Though this sector is unnecessarily being criticized for too labor intensive, an objective, dispassionate analysis reveals that this sector is indirectly patronizing the population more than what it could. The nation’s economy is shaped, through a large extent, by commitment of funds into revenue generating assets. This simple financial principal may not be good in all times with regard to government spending. That is why, commitment of resources in infrastructure and agricultural sector is viewed with cynicism by pro industrial lobby’s .Next to farming sector, services and manufacturing line up as the potential sector for absorbing massive talent pool.