12 things to expect from Budget
#2: Some changes and increases in the 80C savings limit to boost savings.
#3: Special tax breaks for industry to start investing, including possible quicker depreciation.
#4: Scrapping of some centrally-sponsored schemes and transfer of the resources to states – which will be explained as a push to greater state autonomy.
#5: A restatement of Chidambaram’s fiscal deficit numbers so that the burden of lowering it this year is eased.
#6: A higher disinvestment target than what Chidambaram proposed, thanks to a more buoyant market.
#7: Very few changes to indirect taxes – both excise and customs.
#8: A new deadline for the implementation of the goods and services tax (GST), probably around mid-2015 or 1 April 2016.
#9: Announcement of a new Direct Taxes Code effective from 1 April 2015 – with details to come later.
#10: Higher allocations to education, skill-building, health, and urban schemes. All of Modi’s pet projects – toilets, rural housing, roads, special manufacturing zones - will find a mention in terms of intent, and there will be token allocations, but nothing major. The money and actual details will come later
#11: Possible announcement of a changed, reduced, role for the Planning Commission, with the finance ministry itself being the nodal agency for dealing with state plan outlay. Maybe, even a scrapping of the 12th plan, with focus shifting to annual plans. The distinction between plan and non-plan outlays may be given up, and revenue and capital spending being the only distinction.
#12: NREGA and Land Bills will be tweaked to make them more pro-growth, pro-infrastructure development. more
You have brought very good points. As far as income tax js concerned the
expectations are very high with people. I have a suggestion .the present
limit can be enhanced to Rs 4 lakhs. 10 % tax up to
Rs. 8 lakhs 20% upto RS. 12 lakhs and 30% thereafter. For savings the
budget should encourage middle class and salaried class.
On 23 Jun 2014 21:59, "Sheetal Jain" <email@example.com> wrote: