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

Maharashtra flood situation grim, rescue works on

At least 79 people were killed and 56 were missing as the flood situation in Maharashtra remained grim on Saturday. Torrential rainfall in various parts of the state, coinciding with high tides and also discharge from dams, led to inundation of many regions and floods caused landslides in some places too.

Maharashtra partners with Climate Group to promote electric vehicles

Within days of announcing its new Electric Vehicle Policy 2021, Maharashtra Friday announced its partnership with Climate Group’s EV100 network to push and promote electric vehicles and reduce CO2 emissions. The policy, meanwhile, was also notified on Friday. Climate Gro

As rains batter Maharashtra, state on red and orange alert

Severe rains battered Raigad, Thane, Ratnagiri, Kolhapur and Satara regions of Maharashtra with rains in Ratnagiri district breaking the 40-year record. As rivers in these districts crossed warning levels, the National Disaster Response Force (NDRF), the State Disaster Response Force (SDRF), Coast Guard, N

Will next wave affect children? That`s mere speculation, says expert

Dr. Praveen Kumar, director, department of pediatrics, Lady Hardinge Medical College, New Delhi, talks about various issues including impact of Covid-19 on children, the need to protect them, and vaccinating pregnant women and lactating mothers. How has the pandemic affected

A public policy bridge across the digital divide

There has been an active debate globally and in India about the digital divide. This debate has gained additional weight during the Covid-19 pandemic because the acceleration of the need for digital access to health and other social services has thrown this issue into sharper relief. A critical public poli

Connecting India faster – with satellite communications technology

The need for digital connectivity has never been more pressing. The pandemic has changed work ethos and day-to-day lives of people across the globe. The new norm is ‘Technology First’, as with people moving to digital connectivity to fulfill their requirements in daily life. India’s dream

Visionary Talk with Sanjay Jha, Political Analyst On The Current Political Scenario



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter