The Impact of Budget (2016-17) on Economic Growth, Income Distribution and Standard of Living

Abstract

The Indian Economy is moving through a great turmoil and amidst that the Finance minister presented the Budget for the year 2016-17. Many people look at its positive future impact but many also feel its shortcomings in the short run. This budget presents itself with the main focus on Rural/ Agricultural Sector, Small and Medium Scale Enterprises, New startups, Public Sector Banks, Social Security and most importantly the issue of Black Money. But with all this emphasis the economy can face is in the form of implementation of the new reforms presented in the budget because this budget will reach its highest potential only when acted upon with strict measures and control.