The initial reaction to this year’s Union Budget, presented a month earlier than in past years, was one of relief: there were no announcements that spelled trouble for India’s growth story.
Adequate funding could lead to significant improvement in health systems and health status. But Jaitley’s budget indicates inadequate allocations or funding cuts to his declared priorities.
In Budget 2017, the finance minister has proposed a new provision to enable a ‘secondary’ transfer-pricing adjustment to be made to a taxpayers income under the Income Tax Act, 1961 (Act).
Had Indian Railways (IR) not got a waiver from dividend obligation thanks to the merger of the rail and general budgets, the transporter’s operating ratio (OR) would have crossed 100 in 2016-17, 100.36 to be precise.
Like in previous many years, neither new taxes have been proposed nor the existing taxes have been increased in the Budget, presented on the second day of the month-long Budget session of the state assembly.
The Budget was a fine balancing act which addressed the needs of a dynamic economic environment and also plugged abuse of the tax provisions
The budget for education and skill development scores high on intent, but we don’t find many new initiatives and innovative measures. Or do we?
Though ‘ Energy Security’ has been high priority for the Obama Administration, the OECD nations and even China during the last decade, India a major oil importer ignored it.
The ministry of petroleum and natural gas has started discussions with state-run oil and gas companies to take forward the Budget proposal to create a globally competitive “oil major” by consolidating the firms.
The idea of merging state-owned oil companies germinated during the AB Vajpayee years and surfaced during Mani Shankar Iyer’s tenure as the UPA petroleum minister.
Although the Budget 2017 was pro-poor and some tax sops were also announced keeping in mind the middle class, but still a few amendments will have a negative impact on people after the changes become effective within a few months. For instance, they will increase the tax liability of the rich people.
Some of the budget proposals can surely impact the savings of a common man, like while planning to buy or sell one’s property or any financial asset, paying rent to landlord above Rs 50000. Moreover, they will have a direct impact on one’s salary because of the reduced income tax rates.
The long-awaited rail tariff regulatory authority, if in place, would have helped fix tariffs, as the merged budget wished
When the new year dawned, some things were abundantly clear. Firstly, the external environment was no longer benign (rising oil prices and rising protectionism).
DEMONETISATION of high-value currency notes was done to clamp down on black money, among other things. As a fallout of this decision, focus also shifted to urging people to move towards cashless transactions.
The much-awaited Union Budget 2017-18 seems to have maintained a right balance between populism and fiscal prudence. However, a few sectors like insurance and e-commerce felt disappointed as they hardly found a place in it.
While we all intently listen to each and every word that the finance minister spells out in his Budget speech, there is more to the Union Budget proposals than what meets the eye…err ears. If you missed out on the speech, there are many ways to listen to it again.
Attacking the government over demonetisation, he said it has offered no gain for the common man on whom “the State was unleashed”.
Dr. Manmohan Singh knows the art of going to the bathroom with a raincoat on, PM Narendra Modi had said.
The rural markets have been a cause of concern with the demonetisation drive augmenting the woes of the rural populace and the economy.
The Union Budget 2017-18 may not be high-sounding but it focuses on better consolidation and implementation of government schemes, Finance Secretary Ashok Lavasa said on Tuesday.
Assam Finance Minister Himanta Biswa Sarma today presented a Rs 2,349.79 crore deficit Budget for the state for 2017-18 financial year and merged the Plan and non-Plan heads.
Marc Faber the author of the The Gloom, Boom & Doom Report on Tuesday said Union Budget 2017 was good with no negative shocks.
Around 1.24% of the capital spending by the government in FY18 would be supported by internal and extra budgetary resources (IEBR) by the PSUs.
ClearTax, an Income Tax returns e-filing and enterprise compliance service provider, has observed a trend which, if implemented well, will ultimately result in improving the economic infrastructure of the country.
With the Modi government’s stress on affordable housing and its resolve to provide ‘Housing for All’ by 2022, both realtors and homebuyers were looking towards the Budget 2017 with much hope.
The budget has made a prudent beginning and set the stage for the government to push its reform strategy further.