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

India set to enter 5G era

After years of intense preparation, India is about to take the next step in information and communication technology. Prime Minister Narendra Modi will launch 5G services in India on October 1 and also inaugurate the 6th Edition of India Mobile Congress 2022 to be held till October 4, at Pragati Maidan, Ne

Ram Shravan Manan: A musical venture that leads to self-reflection

There is this popular saying that epics are never told, but always retold. Ramayana is one such epic and needs no introduction. Its plot is grounded in sacrifice and the end brings out hope that the good always wins. But how is a centuries-old tale of the prince of Ayodhya still relevant for today’s

Garib Kalyan Ann Yojana extended for three more months

In pursuance of the pro-people announcement made by the prime minister in 2021 and successful implementation of additional food security under PM Garib Kalyan Ann Yojana, the union cabinet has approved its extension for a further period of three months, from October to December 2022. At a ti

A great literary feast (that could’ve been even more sumptuous)

A Case of Indian Marvels: Dazzling Stories from the Country’s Finest Writers Edited by David Davidar Aleph, 390 pages, Rs 999 Change is the only constant, and India has always been doing so. Yet, after independence, if there was a year when the p

Govt e-Marketplace sellers report more business

“My volume of business has increased ever since I registered on GeM (Government e-Marketplace) in 2017. Earlier, I could supply items only in the vicinity of my shop in Fort area and only within Mumbai. Now, I ship my products all over the country! I have tied up with India Post and three private cou

How the Hindi Newspaper Business Changed

The Journey of Hindi Language Journalism in India: From Raj to Swaraj and Beyond By Mrinal Pande Orient BlackSwan, 188 pages, Rs 1,195.00 In India, the English-language media is considered the ‘national media’, while the language press

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter