As this is the last full Budget of the NDA government in the runup to the 2019 general elections, I would anticipate a slight spike on the expenditure front (as has historically been the case). "The common man expects honesty; he expects to get what he deserves", he said, responding to a question on whether the budget will be a populist one, in an effort to woo voters.
During the reign of the UPA government, corruption and nepotism were at peak and every section of the society was unhappy. It is widely believed that without breaching the targets to preserve fiscal consolidation, Modi will face challenges to secure his second term as prime minister in next year's elections.
For the real estate sector, long pending demand of its recognition as industry, increase in tax rebate limit and single window clearance are among key expectations of the leaders.Getamber Anand, Chairman, CREDAI and CMD, ATS Infrastructure Ltd said, "The real estate opportunity to boost GDP mustn't be missed by the Finance Ministry in this budget".
"The government has sought to reclassify imported solar panels and modules in a category that attracts 7.5 per cent duty and various kinds of cess whereby the cost of a solar cell, around 30 cents at present, will go up to around 50 cents for Indian developers if 70 per cent safeguard duty is imposed".
UK's European Union status to be 'similar' right after exit — BREXIT
But several MPs asked by Reuters say her removal is a risky strategy for the party, which is divided down the middle over Brexit . A year ago it vowed to impose almost 300% punitive tariffs on airplanes manufactured by Canada's Bombardier.
Markets remain nervous after the government's annual economic survey on Monday suggested "a pause" in fiscal consolidation, sending bonds plummeting. 2018-19 budget may have many surprises. It is speculated that govt may come up with a grand plan in this sector.
The printing of the Budget documents starts roughly a week before the date of the Budget presentation. With the United States substantially cutting corporate tax, the minister will also need to keep India's tax rate globally competitive, say experts. 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".
PUSH TO EDUCATION: Education is important for overall development of the country. In 2015, the finance minister had said that main corporate income tax rate will be progressively brought down to 25 percent by 2019. Choosing this turnover, in the absence of any such evidence, shows the apathetic nature of the Government towards small businesses. Hence, the government should transform the whole individual tax slabs to provide some substantial relief to the people.
"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". Will Jaitley stick to the 3 percent (of GDP) fiscal deficit target for 2018-19 set previous year?