Union Budget 2018 : The Common Man's Expectations from Budget 2018

Budget 2018 Expectation

BUDGET 2018 - The financial year 2017-18 has been a game changer for the Indian economy. With GST replacing the existing flawed VAT regime and demonetisation closely following, it was a year of bold steps and reforms. The previous budgets of current government were regarded as unambitious by many experts and the general public. But with aforementioned milestones achieved, budget 2018 is one where expectations of the common man are riding high.

Tax Slab Revision
This is the most desired wish on common man’s list of expectations from the budget. After demonetisation, the government added Rs54 lakh new individual taxpayers in 2017 whereas Goods and Services Tax (GST) brought Rs92283 crore to government’s coffers. With widened tax base, low evasion and high tax revenues from direct and indirect taxes, every taxpayer is expecting that the direct tax rates will be lowered and the limit of non-taxable income increased. A recent survey by the citizen and community engagement platform LocalCircles revealed that 31% respondents want an increase in tax exemption limit to Rs3 lakh and 37% want tax slabs to lower the income tax burden.

Comments

Post a Comment

Popular posts from this blog

Economic Survey 2018 may not shape Budget 2018, it's a treasure of insights

Image
BUDGET 2018 - The economic Survey 2018 (ES) isn't always sincerely a precursor to the Union price range 2018; this is, its projections and suggestions won't form the budget. however, it has become a treasure trove of insights approximately the economy, based totally on records sets no longer generally to be had to the ones out of doors the authorities. The topics it explores are novel, applicable and properly researched. This yr’s file is no exceptional. The analysis of tendencies below the goods and offerings tax (GST) is the most vital and timely. Given the winning confusion out of doors (or even inside) the government, it's far comforting to look the 50 in step with cent improvement in number of indirect tax assessees. Now, nine.8 million establishments are registered: though handiest thirteen according to cent of general non-agricultural establishments in India, they account for ninety three according to cent of revenues. much less than 10 in keeping with cent o...
Read more

Budget 2018 will look to revive investments, alleviate rural distress

Image
BUDGET 2018 - The Union budget of 2017-18 had introduced three important structural changes i.e. a) the finances became preponed to February from March; b) the railway and Union Budgets have been merged; and c) expenditure changed into reclassified as capital and income spending as opposed to plot and non-plan. Union charge range 2018-19 as well is expected to have some detail of marvel. Given the truth that this charge range is going to be the closing fee variety of the ruling authorities earlier than the 2019 fashionable election, expectancies of the market are diverse from populist to marvel to stringent measures that the government is likely to take (especially, considering that this government has accompanied this approach in beyond). We anticipate the price variety to be no longer so populist. The government has been creating a important try to deliver the charge variety within the direction of what it essentially is – a trifling accounting and allocation exercise and i...
Read more

Budget 2018: FM Arun Jaitley expected to show that India means business

Image
In advance of the Union Budget 2018 , here's a preview via IIFL Wealth control: The timing couldn’t were better. The Sensex and Nifty soared to record highs after a bout of volatility at start. The IMF projected a 7.four consistent with cent and 7.8 in step with cent increase price for India in 2018 and 2019 respectively. This makes India one of the fastest-growing us of a among emerging economies. All this just ahead of top Minister Narendra Modi’s cope with at a roundtable of forty CEOs of global companies on the annual global monetary forum where he stated India approach commercial enterprise and presented an interesting possibility for global companies. The outlook is a smart start. Volatility could continue to be beforehand of the F&O modifications on Thursday. US markets ended higher after the 3-day government shutdown ended. Can Fin homes, United Spirits, Indiabulls Housing and RBL financial institution are set to record their quarterly numbers today.
Read more