The 1997

Union Budget of India The Union Budget of India, also known as the Annual Financial Statement under Article 112 of the Constitution of India, Indian Constitution, is the country's annual financial plan prepared by the Ministry of Finance (India), Ministry of Financ ...

, also called the Dream Budget by the

Indian media Mass media in India consists of several different means of communication: television, radio, internet, cinema, newspapers and magazines. Indian media was active since the late 18th century; the print media started in India as early as 1780. R ...

, was presented on 28 February 1997, by Finance Minister

P. Chidambaram Palaniappan Chidambaram (born 16 September 1945), better known as P. Chidambaram, is an Indian politician and lawyer who currently serves as Member of Parliament, Rajya Sabha. He served as the Chairman of the Parliamentary Standing Committee o ...

during the Deve Gowda government. The budget presented a roadmap for economic reforms in India and included lowering

income tax An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Tax ...

rates, removing the surcharge on

corporate tax A corporate tax, also called corporation tax or company tax or corporate income tax, is a type of direct tax levied on the income or capital of corporations and other similar legal entities. The tax is usually imposed at the national level, but ...

es, and reduced corporate tax rates.

References

{{reflist

External links

Official 97–98 Budget website
Union budgets of India 1997 government budgets Gowda administration 1997 in Indian economy 1998 in Indian economy