Business
It was termed the 'Black Budget' due to the high fiscal deficit, which amounted to Rs 550 crore
A blend of incentives to encourage economic growth and stringent measures to curb tax evasion and black money. It was the first step towards demolishing the licence raj in India.
It is known for its economic liberalisation reforms, this budget marked the shift from a closed economy to an open market.
It introduced several economic reforms, including lowering income tax rates, removing corporate tax surcharges, and reducing corporate tax rates.
The budget included measures to promote IT and telecommunications, helping to establish India as an IT powerhouse.
It was the first budget to be presented on February 1 instead of the traditional date. Additionally, the 2017 budget merged the Railway Budget with the General Budge
It enhanced focus on privatisation, robust tax collections, and investment in infrastructure and healthcare.