Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

FM Arun Jaitley to present maiden Budget amid expectations of tax sops

Jul 06 2014, 13:17 IST
Comments 0
Arun Jaitley's maiden Budget on Thursday is expected to be a tightrope walk of trying to meet demands. (Photo:Reuters) Arun Jaitley's maiden Budget on Thursday is expected to be a tightrope walk of trying to meet demands. (Photo:Reuters)
SummaryFinance Minister Arun Jaitley is expected to announce tax incentives for industry.

said in Goa.

Budget may be harsh on smokers as excise duty on cigarettes and tobacco products is expected to go up.

At the same time, the government may impose higher tax on people earning more than Rs 10 crore annually.

India Inc has already presented its wish list during the customary pre-budget meeting to Jaitley, while the issues of common man have been put forward by various stakeholders including trade unions and other bodies.

In order to provide clarity and improve investor sentiment to foreign investors, there would be reference to retrospective tax amendment in Budget.

The foremost problem that the minister would have to deal with is the retrospective tax amendment issue. The Vodafone case is stuck in arbitration and not much can be done to resolve the impasse as the amount involved is Rs 20,000 crore.

The Modi government is expected to make a general statement of intent to clarify its position with regard to retrospective tax amendment with a view to ensuring a stable tax regime. This would help both– the government as well as the investors.

Single Page Format
Ads by Google

More from Union Budget 2014

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...