Budget 2017: Top four challenges coming in India's way to higher growth

On Wednesday, Arun Jaitley presented the first merged Union and Railway Budget . The budget offered varied benefits for the poor, agriculture, railways and housing sector. However, acting as a hurdle in the government's road map to take the economy ahead, are various global challenges. 

Here are the top four challenges:

1) World economy faces considerable uncertainty, in the aftermath of major economic and political developments during the last year. 

2) The US Federal Reserve's intention to increase policy rates in 2017 may lead to lower capital inflows and higher outflows from the emerging economies.

3) Uncertainty around commodity prices, especially that of crude oil, has implications for the fiscal situation of emerging economies

4) Signs of retreat from globalisation of goods, services and people, as pressures for protectionism are building up.