Universal basic income transfers for poor may be introduced: HDFC

Service tax rates could be increased to bring them in line with GST rates and some tweaks in corporate and personal tax regimes are expected

GN Bureau | January 30, 2017


#money transfer   #HDFC   #UBI   #universal basic income   #poverty  


Universal basic income transfers for the poor are likely to be introduced only on a pilot basis but low-cost housing could get a bigger boost, said HDFC bank in its budget expectations.
 
The budget will be presented on February 1.
 
 
The HDFC bank report said that the theme of black money crackdown' and “digitization” could be reinforced. Service tax rates could be increased to bring them in line with GST rates and some tweaks in corporate and personal tax regimes are expected.
 
Assuming that the government is likely to project the effect of demonetization to be transitory, growth and tax targets for FY18 could be aggressive. Overall, fiscal deficit could at best be at 3-3.3% for FY18 (in line with the FRBM committee recommendations), and not paused at 3.5% of GDP.
 
It said that the 2017 budget will be presented against the challenging backdrop of an uncertain global environment, domestic economy reeling under the impact of demonetization, subdued private capex cycle and many unknowns confronting the government (such as roll out of GST). Given the context, therefore, we expect the government to provide some support to the economy however the optics of the budget are unlikely to dazzle.
 
The bank said it expects the budget to focus more on effective implementation and increased allocation to existing projects rather than announcing new schemes/projects. Some popular announcements mainly to help the sectors that have suffered in the demonetization process like MSMEs and rural economy are however likely.
 
HDFC report on budget expectations 2017 

Comments

 

Other News

On a personal note: Javed Jaffrey

After his much-appreciated debut in Meri Jung in 1985, Javed Jaffrey inspired a new generation of dancers. He then turned from dance to comedy. The versatile actor constantly changes his styles and his live, film, TV and radio appearances always promise novelty and surprise. In 2014 he joined the Aam A

Allegations against CJI: Inquiry will strengthen the independence of the judiciary

Yes, we must stand rock solid with the judiciary and the judges. We must protect the independence of the judiciary too. What does this mean in the present context of a very serious charge of sexual harassment levelled by a former employee of the court against the CJI?  We are told that there is a larg

“Managing data is challenging”

The Centre for Railway Information Systems (CRIS) is a society set up by the railways ministry in July 1986 to provide IT related services to the Indian Railways. CRIS deals in a gamut of functions, like passenger ticketing, freight operations, train dispatching and control, crew management, e-procurement,

A boost to those who need it most

What are 600 million people? Almost twice the population of the US. What are 500 million people? About three-fourth of the population of Europe. Why are we talking about these numbers? Well, because as per a study by Sandhya Krishnan and Neeraj Hatekar (‘Rise of New Middle Class in India and Its

Expanding Eureka!

Abright yellow van with figures of children playing with a whirligig, a Newton’s cradle, a magnetic compass rolls into the Government Higher Primary School in Kittaganahalli, on the outskirts of Bengaluru. Students in the playground leave what they are doing and mill about it in excitement. For they

The spark in the classroom

Not many children dream of starting an idyllic school of their own when they grow up. But Ramji Raghavan, founder of the Agastya International Foundation – which fosters the creative learning of science in stude



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter