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  • Category: Miscellaneous

    Quick! Your expectation from today's budget

    Today, at around 10 a.m., India's first lady finance minister, Ms. Nirmala Sitharaman will present her and the NDA-II's first budget in Lok Sabha. The economic and academic discussion has already stated in television channels and newspapers. Every citizen has his/her own expectation from the budget. Every social group has its own. Every economic class has its own distinct expectation before the budget.

    Yesterday's economic survey has projected a 7% growth of the Indian economy in the near future. But P Chidambaram of the Congress countered it with his own interpretation.

    Now, what is your own interpretation and expectation? What do you interpret about India's economy during the next two-three years? What is your expectation from today's budget? Please remember that expectation should not be confined to only Income Tax Rebate.

    [Maybe this thread is late. But, even then, we have time till 11 a.m. for discussion.]
  • #669633
    For a middle-class salaried individual, nothing is more lucrative than a rebate on income taxes. This also boosts consumption and thus becomes a driving force behind economic growth. It is expected that the basic tax slab will be revised from the existing 2.5 lakhs to 3 lakhs. Considering the stunted economic growth in the last 10-15 months, that is quite a possibility. Also, I shall personally be happy if the tax on LTCG is removed. However I don't think that LTCG Tax will be withdrawn because it has been reinstated only recently. The infrastructure section needs a monetary stimulus too. If you look at the last theree years' performance ms of various infrastructure funds from different fund houses, you will find that most of them are struggling. It is high time we should prioritize infrastructural developments in our country.

  • #669640
    The economy is poised for growth though the weak monsoon will affect it to some extent. The Govt has already contained the inflation and now only thing which remains to be accelerated is growth of the manufacturing sector as well as agricultural sector. Service and transport sector is already doing good.

    Today the Govt may announce some good measures for the industry as well as agriculture sector. The growth and improvement in these sectors will enhance the employment opportunity also. There could be some tab on the expensive educational institutes charging hefty fees. More infrastructural scheme on a national level might be announced.

    On the personal income tax front I do not see any major change except some measures to boost the mutual fund and share market in our country which may increase the yield for the common investors. There could be a small change in the lowest slab to avoid the large number of IT returns which do not add to the Govt exchequer.

    Knowledge is power.

  • #669670
    I am not expecting anything this time in the budget which will save my tax level. Today from the morning I am busy and I have not heard or read anywhere about the budget. Only in the evening, I may know about it. I feel happy if the tax is not increased. aI hope the prices of our daily requirements should not also go up. Even the IT of very rich can be increased but one should take care of salaried persons and that too who are in the lower bracket of IT. There should be some employment chances improvement proposals in the budget, I hope. Anyhow, let us see what is going to be there in the budget.
    drrao
    always confident


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