10 things people expect from budget 2018 -Governance Now

10 things people expect from budget 2018

Budget 2018 is the first budget to be presented after introduction of GST and the last full budget of the Narendra Modi government before the general election in 2019

GN Bureau | January 30, 2018

#tax #GST #Arun Jaitley #Finance Ministry #union budget #budget #Narendra Modi

PM Modi delivering his statement to media ahead of the Budget Session of Parliament, in Parliament House, on January 29

When finance minister Arun Jaitley rises to present the union budget 2018 in parliament on Thursday, most Indians will be hoping that he leaves them with more money in their pockets.

Here are 10 expectations from this budget. This budget is significant as it is the first budget to be presented after the introduction of GST and the last full budget of the Narendra Modi government before the general election in 2019.

Reduce taxes on individual tax payers
Industry hopes for a growth oriented and forward looking budget
Rural infrastructure projects need to be expedited
Employment generation needs to be stepped up
Corporate tax have to be lowered
Not bring back long term capital gains tax
Rationalisation of indirect taxes
Replace minimum alternative tax with income based alternate minimum tax
Strengthening public sector banks reeling under NPAs
More clarity on multi lateral instrument

The past year has been a difficult period for the economy, especially GST kicked in. Small businesses were hugely impacted by the introduction of GST and large corporates too faced challenges.

The Economic Survey says that a series of major reforms undertaken over the past year will allow real GDP growth to reach 6.75 percent this fiscal and will rise to 7.0 to 7.5 percent in 2018-19.

It also said that the reform measures undertaken in 2017-18 can be strengthened further in 2018-19.

People are hoping that the budget will address the issues that slowed down the economy post-demonetisation and GST.

Comments

Other News

Deadline extended for exercising option under UPS to Nov 30

The Ministry of Finance has announced an extension of the deadline for eligible individuals to opt into the Unified Pension Scheme (UPS). The revised deadline is now November 30, 2025. The Unified Pension Scheme, implemented on April 1, 2025, allows eligible existing employees, past retirees

Inside the platform economy

OTP Please: Online Buyers, Sellers and Gig Workers in South Asia By Vandana Vasudevan Penguin, 384 pages, Rs 499

The lead link: When rage begins with exposure, not intent

Anger is not a flaw; it is one of our oldest instincts, deeply embedded in human nature for survival. At its best, it helps us confront threats, assert boundariesand respond to injustice. But when anger is left unchecked or unprocessed, it can escalate into violence. What begins as a natural emotion can, o

Clearing air about Sanskrit, the key element of Indian civilization

Language of the Immortals: A Concise History of Sanskrit By G. N. Devy Aleph Books, 96 pages, Rs 399

Supreme Court urged to reconsider Char Dham Pariyojana verdict

Former union ministers Murli Manohar Joshi, Karan Singh and others have written to the Chief Justice of India, urging judicial reconsideration of the Supreme Court’s 2021 judgment upholding the road widening under the Char Dham Pariyojana in Uttarakhand – in the ecologically fragile Himalayan r

In climate action, the dilemma of mitigation vs. adaptation

For decades, international efforts have prioritised emissions reduction, often overshadowing adaptation. Consequently, the vast majority of tracked climate finance goes to mitigation, while only a small share of funds goes to adaptation. The global climate finance has hit ~$1.5 trillion, essentially driv