-TN Pandey
WITH the budget fervor and excitement having
settled down after introduction of the Finance Bill, 2017, in Parliament on
February 1, 2017, it is time to think of long-term reforms for socio-economic
betterment, which can be ushered in through the tax laws. Regretfully, the
budget presentation in the country has been made a great occasion, which, in
essence, is merely an account of revenue receipts and expenditure of the
Central Government. The budget exercise, being an exercise to be done in a time
bound way, long-term reforms, needing policy changes from long-term
perspectives, cannot be rushed through the Finance Bills, though sometimes,
finance ministers have found it convenient to bring some such provisions,
requiring detailed debates through Finance Bills because of the experience in
the past few years where the Finance Bills get passed summarily in Parliament
for varied reasons, including paucity of time.
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