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
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.
 
  1. Reduce taxes on individual tax payers
  2. Industry hopes for a growth oriented and forward looking budget
  3. Rural infrastructure projects need to be expedited
  4. Employment generation needs to be stepped up
  5. Corporate tax have to be lowered
  6. Not bring back long term capital gains tax
  7. Rationalisation of indirect taxes
  8. Replace minimum alternative tax with income based alternate minimum tax
  9. Strengthening public sector banks reeling under NPAs
  10. 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

CAG flags major fiscal lapses in Maharashtra

Maharashtra`s fiscal management has come under sharp scrutiny after the Comptroller and Auditor General (CAG) of India, in its State Finances Audit Report for 2024-25, flagged significant budgetary inefficiencies, accounting irregularities, understatement of key fiscal indicators and widespread governanc

The health sector research we are not doing

Some neglect is loud. This kind is quiet. It sits in research never commissioned, data never collected, questions never asked. In South Asia, that quiet has let the region’s worst health problems stay understudied, underfunded, and out of sight of those who could act.  

Study flags accessibility and last-mile challenges on Mumbai Metro Aqua Line

Mumbai Metro Line 3 (Aqua Line), the city`s first fully underground metro corridor and one of its largest public transport investments, represents a major engineering achievement and has been widely welcomed by commuters. However, the overall commuter experience continues to be constrained by accessibili

Centre intensifies preparedness as El Niño threat looms

Amid uncertainty in the southwest monsoon due to the potential impact of El Niño, the government is addressing the situation with comprehensive preparedness, a clear strategy, and strong ground-level action. While challenges remain, the entire system has been activated in advance and is working proa

India is crossing a climate threshold

On June 28, Delhi recorded a maximum temperature of 41.3°C, four degrees above the seasonal normal. But the “feels like” temperature, which factors in humidity, showed more than 51°C. What the body experienced was very different from what the thermometer recorded.  India`

The Geography of India’s inflation

India today finds itself in an unusual position. At a time when geopolitical conflicts, trade fragmentation, and supply-chain disruptions are reshaping the global economy, the country`s macroeconomic fundamentals remain relatively upwards. Growth remains among the highest in the world, inflation has larg





Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter