New Budget 2018 Income Tax Slab Common-Man Expectations

Image result for Can Middle class hope for a big relief in 2018-19 Budget
New Budget 2018 Income Tax Slab Common-Man Expectations
Author

01 February, 2018

Through the Budget presentation, the Finance Minister can provide a larger mandate and direction to the GST Council so that frequent knee-jerk decisions, that now emanate after the GST council meetings once in a while, are done away with and a much more thought-induced working is put in order.

We are aware that Union Finance Minister Arun Jaitley on behalf of Modi government is going to present union budget for FY 2018-19.

State Bank of India chief economist Soumyakanti Ghosh, said he believes the budget would ultimately be a balance between pragmatism and fiscal consolidation.

A more financially prudent Budget will be an indicator of the government waiting for the short-term negative impacts of GST on the GDP to fade away and job generation to bounce back before the Lok Sabha polls scheduled in May 2019.

The government is expected to increase import duty on certain items related to power, capital goods and chemicals sectors to give a boost to domestic manufacturing and its "Make In India" programme. Since 2014-15 the finance minister Arun Jaitely has reiterated his commitment for the consolidation of fiscal deficit, nearly in all his budget speeches. "In a nutshell, we are looking forward to an industry-friendly budget with designated funds allocated to accentuate the growth of the industry over the coming years", said Nitin Aggarwal, CEO, Prayag India.

Duterte claims United Nations 'useless' in India speech
Tingnan mo (Look at) the Rohingyas. "The UN has no objective at all, actually, for mankind", Duterte said. I told the Nobel Peace Prize victor , protect your own country.

CORPORATE TAX: Will Jaitley cut the headline corporate income tax rate from 30 percent? The limit was last increased in 2015 from Rs 1 lakh to Rs 1.5 lakh.

Ahead of the budget, Modi - who came to power in May 2014 and faces re-election by mid-2019 - said in an interview with the Times Now news channel on January 21 that it is "a myth" that the average person wants sops and freebies, rebuffing the idea that the budget must be populist.

It is also expected that the goverment may announce big schemes to generate employment sector. The industry has also sought incentives for setting up warehousing and cold chain facilities and efforts to increase Foreign Direct Investment (FDI) in the sector. Among the critical economic issues facing the nation today, the need is to handle the ripples created in the wake of demonetisation and GST and to that effect, the current Budget provides a singular opportunity to the Finance Minister to assuage and calm the business community who bore the major brunt of the GST implementation. Since 1980, the budget printing was started in North Block, which remains same till the date.

All eyes will be on the fiscal consolidation roadmap and the government's borrowing plans.

"Rural roads, post-harvest infrastructure, last-mile connectivity, massive irrigation projects could all be a part of the budget package".


More news


  • Nokia 3310 4G can make an LTE-powered a Wi-Fi hotspot

    Nokia 3310 4G can make an LTE-powered a Wi-Fi hotspot

    It is also expected that HMD Global might showcase the Nokia 3310 4G at the upcoming Mobile World Congress in Barcelona, Spain. There is no clarity over the price of this handset as HMD Global has not revealed the pricing and availability details yet.
    Penny-pinching Ikea founder had $77 billion

    Penny-pinching Ikea founder had $77 billion

    He first started building the business when he was just five, selling matches and delivering them by bike to nearby neighbours. Swedish Foreign Minister Margot Wallstrom tweeted her condolences, saying that Mr Kamprad had "put Sweden on the world map".
    Trump says Republicans will accept citizenship for Dreamers: CNBC interview

    Trump says Republicans will accept citizenship for Dreamers: CNBC interview

    It would also set up a $25 billion trust fund to establish a border wall system and otherwise improve border security. Many senators involved in the negotiations said they were buoyed by Trump's comments.
  • Angola Ends Contracts With North Korean Builder, Orders Workers To Leave

    Angola Ends Contracts With North Korean Builder, Orders Workers To Leave

    In that year, a South Korean tourist was shot dead by a North Korean soldier, apparently for wandering into an off-limits area. It wouldn't be the first time Trump's strong language against North Korea and its leader Kim Jong Un has made headlines.
    VP Pence calls report on President Trump's alleged affair 'baseless'

    VP Pence calls report on President Trump's alleged affair 'baseless'

    She also described how she'd watched Shark Week with the president who was "terrified" and "obsessed" with the creatures. The incident is alleged to have occurred just one month after Trump's wife Melania gave birth to their son Barron.
    $349 gadget turns 360 degrees

    $349 gadget turns 360 degrees

    A laptop/tablet hybrid with flexible joints, Spin 11 is one of the several devices that can run Android applications. From the early days of Google's desktop OS, Acer has produced quality computers running the Linux-based Chrome OS .
  • Michigan Attorney General Bill Schuette vows thorough investigation into MSU

    Michigan Attorney General Bill Schuette vows thorough investigation into MSU

    Michigan State University will be investigated by a special prosecutor in the wake of Larry Nassar's sentencing , CNN reports . As noted by CNN , a recent ESPN investigation alleges that MSU officials have a pattern of burying reports of sexual assault.
    Philadelphia 76ers at Oklahoma City Thunder Preview 01/28/18

    Philadelphia 76ers at Oklahoma City Thunder Preview 01/28/18

    The image Embiid used is from a moment early in the game when he posterized the Thunder's superstar point guard. He was taken off the court on a stretcher, and it looks likely that he's suffered a serious injury.
    Google Play wants to read books to you

    Google Play wants to read books to you

    Those who purchase audiobooks via the Google Play Store will be able to access them on Android , iOS , and the web. You can share your audiobooks with everyone in your family through Family Library for no additional fee.
  • SpaceX Confirms Date for First Falcon Heavy Launch

    SpaceX Confirms Date for First Falcon Heavy Launch

    In a December tweet , Musk quipped that the Falcon Heavy launch is "guaranteed to be exciting, one way or another". So is United Launch Alliance, a venture between Lockheed Martin and Boeing, with its next-generation Vulcan.
    Relief For Workers As Canada's Bombardier Wins Trade Dispute With US

    Relief For Workers As Canada's Bombardier Wins Trade Dispute With US

    Antidumping and Countervailing Duty laws) are successful because the evidentiary thresholds are so low. Delta ( DAL ), which is the only USA airline to purchase the C series, also praised the decision.
    SpaceX Completes Falcon Heavy Initial Static Fire Test

    SpaceX Completes Falcon Heavy Initial Static Fire Test

    According to SpaceX , this is over twice the capacity of United Launch Alliance's proven Delta IV Heavy at one-third of the cost. The Falcon Heavy in early February is based on public statements by Elon Musk and Gwynne Shotwell, SpaceX's President and COO.