Budget
Budget 2017: After DeMo, govt. announces sops for digital infra & economy
NEW DELHI: Stating that the budget for 2017-18 was on the agenda to “Transform, Energise and Clean India” in a RAPID (Revenue, Accountability, Probity, Information and Digitisation) way, Finance Minister Arun Jaitley announced various concessions for pushing ahead digital economy, which indirectly may benefit some segments of the media and entertainment sector.
Under the BharatNet Project, 1, 55,000 km optic fibre cable had been laid in the country. The allocation for BharatNet Project had been increased to Rs 10,000 crore in 2017-18. By the end of 2017-18, high speed broadband connectivity on optical fibre will be available in more than 1, 50,000 gram panchayats (village administrative offices), with wi-fi hot spots and access to digital services at low tariffs. A DigiGaon or digital village initiative will be launched to provide tele-medicine, education and skills through digital technology, Finance Minister Arun Jaitley said.
The allocation for OFC-based network for defence services had also been increased from Rs 2710 crore in the last budget to Rs 3000 crore in 2017-18.
Coupled with push towards digital payments for services, including in the broadcast and cable segments, investments in the internet infrastructure and telecom equipments will likely have cascading benefits for the media sector too, especially those offering video streaming services on phones and other hand-held devises.
The finance minister said a shift to digital payments has huge benefits for the common man. The earlier initiative to promote financial inclusion and the JAM trinity were important precursors to government’s current push for digital transactions.
In a budget, which for the first time since independence was presented on 1 February instead of the last day of the month, Jaitley said an eco-system was being created to make India a global hub for electronics manufacturing. Over 250 investment proposals for electronics manufacturing had been received in the last two years, totalling an investment of Rs 1.26 lakh crore. A number of global leaders and mobile manufacturers have set up production facilities in India. “I have therefore exponentially increased the allocation for incentive schemes like M-SIPS and EDF to Rs 745 crore in 2017-18. This is an all-time high,” he added.
A major announcement by Jaitley was the abolition of the Foreign Investments Promotion Board (FIPB) and further liberalisation of FDI policy for which necessary announcements will be made in due course.
Jaitley said: “Our government has already undertaken substantive reforms in FDI policy in the last two years. More than 90 per cent of the total FDI inflows are now through the automatic route. The FIPB has successfully implemented e-filing and online processing of FDI applications. We have now reached a stage where FIPB can be phased out”.
He said the telecom sector was an important component of Indian infrastructure eco-system. He claimed the recent spectrum auctions have removed spectrum scarcity in the country and this will give a major fillip to mobile broadband and Digital India for the benefit of people living in rural and remote areas.
In a boost to domestic industry, a special additional customs duty of 2 per cent is being levied on Populated Printed Circuit Boards (PCBs) for use in the manufacture of mobile phones, subject to actual user condition.
Noting that India is on the cusp of a massive digital revolution, Jaitley said there was evidence of increased digital transactions. The BHIM (Bharat Interface for Money) app would unleash the power of mobile phones for digital payments and financial inclusion. A total 12.5 million people had adopted the BHIM app so far, Jaitley said, adding that the government will launch two new schemes to promote the usage of BHIM: referral bonus scheme for individuals and a cash back scheme for merchants.
Aadhar Pay, a merchant version of Aadhar Enabled Payment System, was being launched shortly. This will be specifically beneficial for those who do not have debit cards, mobile wallets and mobile phones. A Mission will be set up with a target of 25,000 million crore digital transactions for 2017-18 through UPI, USSD, Aadhar Pay, IMPS and debit cards. Banks have targeted to introduce additional one million new PoS (point of sales) terminals by March 2017 and they will be encouraged to introduce two million Aadhar-based PoS by September 2017, the finance minister said.
Jaitley said the Government will consider and work with various stakeholders for early implementation of the interim recommendations of the Committee of Chief Ministers on digital transactions. The Committee on Digital Payments, constituted by Department of Economic Affairs, had recommended structural reforms in the payment eco system, including amendments to the Payment and Settlement Systems Act 2007.
In a boost for digitisation, the government has removed service tax on e-tickets booked through IRCTC (Indian Railways’ website).
According to a PTI report, after a flat day time trading Sensex zoomed 485.68 pts to close at 28,141.64.
MUMBAI: Anuj Singhal, managing editor at CNBC- AWAAZ and CNBC BAJAR, operates at the sharp end of India’s business news ecosystem. With over two decades in business journalism, he has earned credibility for decoding policy, markets and macro trends for millions of Hindi-speaking investors. Equal parts newsroom leader and market analyst, he shapes editorial direction while anchoring flagship shows that break down the economy, politics and corporate India in real time.
Known for cutting through jargon and hype, Singhal blends data, discipline and clarity — a mix that has made him one of the most trusted voices in Hindi business news.
In this interaction, he discusses the Union Budget, trade deals, newsroom strategy and what truly moves markets and ratings.
• What was the single most market-moving announcement in this Budget, and why?
The most market-moving element was the clear commitment to fiscal consolidation without compromising capex. The glide path on fiscal deficit reassured bond markets and foreign investors, while sustained public investment kept growth expectations intact. That balance removed a big overhang for both equities and debt.
• Do you see this Budget as growth-oriented, fiscally cautious, or politically calibrated?
This Budget is growth-led but fiscally disciplined. It avoids overt populism, stays within macro guardrails, and prioritises medium-term competitiveness over short-term optics. Politically, it is restrained; economically, it is deliberate. The message is clear: stability over spectacle.
• How is CNBC-AWAAZ programming different, especially in decoding trade deal impact?
CNBC-AWAAZ goes beyond headline reaction. We translate policy into portfolio impact — sector by sector, stock by stock.
On trade agreements, our focus is on:
-Earnings visibility
-Export competitiveness
-Currency implications
-Margin sustainability
We don’t treat trade deals as political milestones. We decode them as profit-and-loss events for corporate India and map them to FY earnings trajectories.
• Which sectors look like clear winners and laggards over the next 12–18 months?
The next 12–18 months favour sectors aligned with structural spending and supply-side strengthening.
– Clear beneficiaries:
Capital goods and infrastructure
Manufacturing linked to export chains and PLI ecosystems
Power, defence, and logistics
– Relative laggards:
Consumption segments dependent on immediate demand revival
Businesses facing margin pressure from global volatility or pricing power erosion
This is not a momentum-driven market environment. It is execution-driven. Balance-sheet strength and order visibility will matter more than narrative.
• One headline to sum up this Budget 2026 for India Inc?
“Steady Hands, Long-Term Vision: A Budget That Rewards Discipline Over Drama”.
• What editorial filters do you apply before calling something ‘market-positive’ or ‘negative’?
We apply three structured filters:
– First: Earnings translation — does this materially change earnings visibility or cash flow outlook?
– Second: Time horizon — is the impact immediate, cyclical, or structural?
– Third: Valuation context — good news priced in or not.
If a policy doesn’t move earnings or risk perception, we don’t oversell it.
• How has business news consumption changed around big policy events?**
There has been a clear behavioural shift. They’re less interested in what was said, more in what it means for their money. There’s also a clear shift toward second-screen consumption, with digital platforms complementing live TV. The audience seeks sharper accountability. Viewers no longer accept broad optimism or pessimism — they want frameworks, numbers, and sector mapping.
• CNBC-AWAAZ decisively outperformed on Budget Day. What editorial and distribution choices mattered most?
Three deliberate strategic choices:
– Preparation depth:
We build scenarios months in advance — deficit ranges, sectoral incentives, tax calibrations — so we’re ready with analysis the moment numbers are announced.
– Language of impact:
We translate macro policy into investor-friendly Hindi without diluting complexity. That bridges accessibility and sophistication.
– Integrated distribution:
Television, YouTube, and digital platforms operate as one editorial grid, not parallel silos. This ensures continuity of narrative.We stayed analytical while others stayed reactive.
• How different is your YouTube audience from your TV audience?
The behavioural differences are subtle but important. TV audiences prioritise authority, structured debate, and context. YouTube audiences want speed, clarity, and actionable insights — often sharper, sometimes more opinionated. However, both share one expectation: accuracy. The format evolves; the trust benchmark does not.
• How do you retain viewers after the budget speech ends?
By shifting from announcements to implications.Retention comes from shifting the narrative from announcement to implication. We break down sectoral breakouts, stock-level impact, and what to do next. The speech is just the trigger; analysis is the destination.
• Is Budget Day your biggest traffic day?
It is one of the biggest — but more importantly, it is among the deepest in engagement. Viewers spend longer durations, revisit segments, and seek follow-up programming. That indicates behavioural trust, not just traffic.
• What’s the first thing you personally track on Budget Day — the speech or the markets?
The markets. They’re the fastest truth-teller. The speech explains intent; markets reveal interpretation.
• Your personal Budget-day ritual?
Early morning prep, minimal distractions, and once the speech begins, complete immersion. For me, Budget Day is less about reaction and more about reading between the lines.
• What drove your Budget-day ratings dominance, and how are Budget and trade deals shaping markets now?
Our dominance came from credibility, consistency, and clarity.
As for markets, both the Budget and recent trade deals are reinforcing a narrative of policy stability and global integration, which supports valuations even amid global volatility.
For Singhal, the market is the final judge. Policies can promise and speeches can persuade, but prices reveal what investors truly believe. As India’s investor class grows more informed and more demanding, business journalism is shifting from commentary to calibration. The premium is on clarity, context and credibility. In a landscape flooded with noise, the real edge lies in interpretation. In the end, the markets listen to numbers, not narratives , and Singhal’s craft is helping viewers tell the difference.
