Repealing and Amending Act, 2017 Repealing and Amending Act, 2017 The Repealing and Amending Act, 2017 is an Act of the Parliament of India that repealed 104 Acts, and also partially repealed three sections of the Taxation Laws (Amendment) Act, 2007, and made minor amendments to three other Acts to correct typographical errors. The Act was the fourth such repealing act tabled by the Narendra Modi administration aimed at repealing obsolete laws. Prime Minister Narendra Modi advocated the repeal of old laws during his 2014 general election campaign. At the 2015 Economic Times Global Business Summit, Modi stated, "Our country suffers from an excess of
Premiership of Narendra Modi budget was moved from 28 February to 1 February and financial cycle was changed from July to April. Further, the artificial distinction between planned and non-planned expenditure was removed. Foreign Investment Promotion Board (FIPB), considered as a hurdle in FDI, was scrapped by Modi government. Modi government put in place the Goods and Services Tax, the biggest tax reform in the country since independence. It subsumed around 17 different taxes and became effective from 1 July 2017. Modi launched Pradhan Mantri Jan Dhan Yojana (PMJDY) in August 2014. The initiative aimed to create bank accounts and debit cards for 150