The Finance Ministry has invited citizens on twitter to vote on the sector they want Budget 2017 to focus on.
Following the government's modus of thought exchange, the Finance Ministry has once again invited people on twitter to vote on the sector they want the Budget 2017-2018 to focus on.
The ministry has listed four sectors namely-- Infrastructure, Agriculture, IT and Services and Manufacturing--to gauge the public mood and understand what citizens want the Budget's priority focus to be. People can exercise their voting option on the official twitter handle of the Ministry of Finance. The voting would remain open for the next 6 days.
On Thursday, in an attempt to encourage Jan Bhagidari (People's involvement) and make the process of budget formation more transparent, the Union Ministry of Finance has also invited people for suggestions in the upcoming budget on its website. Having received an "overwhelming response" last year with over 40,000 suggestions and "incorporating several" of them, the government has set January 20, 2017 as the deadline to submit ideas and suggestions.
Being the first for many things, the upcoming budget for the first time has been advanced by a month to February 1. According to PM Modi, this would let all the programs and finances start with the beginning of the financial year. An early budget would allow it to be passed by March end unlike the usual mid-May period.
The upcoming budget is also going to do away with the 92-year-old practice of presenting a separate Railway and Union Budget. From this year on, both the statements will be read out on the same day. This would also be the first budget without a special focus on five-year plans. Instead, the NITI Aayog, which has replaced the Planning Commission, will be preparing vision plans across the timeframe of three, seven and fifteen years.
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