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

Exclusive Breastfeeding? Yes. Effective Breastfeeding? No. What to do?

Our hearts almost skipped a beat when we heard community health officer (CHO) Dr. Sandeep Kakuste’s success story with baby Pinki Lakhan Patil, who was born underweight in a brick kiln. Pinki weighed 1.7 kg at birth. As she was on exclusive breastfeed she could not have gained weight by any other met

Places of Worship Act: Time for a second look?

A videography survey in the Gyanvapi mosque in Varanasi this month, along with a similar survey in the mosque in Mathura permitted by a court, has brought the Places of Worship Act under focus after a gap of three decades. In 1991, at the peak of the Ram Janmabhoomi movement, the PV Narasimh

Gujarat is key if India is to become $5 trillion economy

The Government of Gujarat had set up a task force committee in February 2022 under the chairmanship of Dr. Hasmukh Adhia, former union finance secretary, to work out a strategy for the state to contribute in making India a USD 5 trillion economy, as per the vision of the prime minister. In three months, th

Why is Lanka in flames: the making of a crisis

This time it was not Lord Hanuman, but the poor decision-making of the political leaders combined with several global economic factors that set Sri Lanka in flames. A state of emergency was declared in Sri Lanka. This month, after the Prime Minister of Sri Lanka resigned from his post, the

Growing Up as a Multilinguist

Being and Becoming Multilingual: Some Narratives Edited by Rajesh Sachdeva and Rama Kant Agnihotri

Mumbai civil body refutes allegations of scam in tenement scheme

The BrihanMumbai municipal corporation (BMC) has rejected the Congress accusations of financial irregularities worth Rs 8,000 crore—9,000 croe in awarding contracts for getting project-affected people (PAP) tenements on private land.    BMC has said that it implements vital p

Visionary Talk: Arvind Sawant, Member of Parliament with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter