Published: Thu, February 01, 2018
Finance | By Kristine Clayton

Meghalaya: BJP likely to declare list of candidates after Union Budget

Meghalaya: BJP likely to declare list of candidates after Union Budget

Meanwhile, now, as Finance Minister Arun Jaitley is likely to present the Union Budget 2018 at 11 am tomorrow, we bring to some really interesting facts about Budgets.

After becoming the Prime Minister, Mr Narendra Modi took decisions in public welfare.

Japanese brokerage Nomura expects the government to miss the current year's budgeted fiscal deficit target of 3.2% of GDP, and revise it to 3.5%.

The last full Budget of the NDA government may not be a populist one but it will not disappoint citizens either.

Expectations are really high.

British consulting multinational Deloitte's Indian arm said in New Delhi that the forthcoming Budget is expected to "address the key challenges facing the economy".

However, the Economic Survey also hinted for a "pause" in fiscal consolidation.

"To facilitate cross-border trade and investment without the barrier of double taxation, the Governments of India and the United States should reaffirm the shared commitment to improving tax dispute resolution". There is a specific need to insulate the economy from the after shocks of these reforms, stabilise it and put it on the path to progress and this is why the Budget 2018 is more relevant than ever. The budget may also have something in store for start ups.

The government is expected to increase import duty on certain items related to power, capital goods and chemicals sectors to give a boost to domestic manufacturing and its "Make In India" programme. He said, "It comes at a time when the world is looking at us, be it the global credit-rating agencies, the World Bank, the International Monetary Fund which have been very positive in their opinion about the growth of India and the road ahead". The global market is seeing India with a positive eye.

PUSH TO EDUCATION: Education is important for overall development of the country. This shows borrowing requirement of the government from all sources. There is speculation that he may announce a restructuring of tax slabs and increase the income tax exemption limit from the existing Rs 250,000 to about Rs 300,000 -a move that would leave more money in the hands of people.

REVIVING BANKING SECTOR: Banks struggling with the financial crisis and NPAs have great expectations from the budget. No surprise, then, that India Inc welcomed the FM's announcement during Budget 2015 to embark on a corporate tax rationalisation drive over coming years.

"USIBC members believe that unless resolved, the lack of clarity in the government's approach to taxation risk will undermine progress in other areas of the economy and will continue to damage India's reputation among investors", the memorandum said.

"We may see policies aimed at eliminating supply side barriers to in agricultural markets while also trying to increase the efficiency with which markets function".

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