Budget 2015 - Beginning of Acche Din?
Is Budget 2015 beginning of Acche Din?
Union budget is the financial plan for a year wherein the ruling government tries to allocate money for every sectors. Government brings estimation of revenue and expenses to the fore in the budget. It sets the agenda and priorities for the government. The event is very popular among general public as it addresses various economic issues and people’s expectations. The ruling government also uses this event to fulfil its promises that it mandated during election time.
With high internet penetration, a lot of discussion is going around if the budget will evoke Acche Din? Yes, government have taken many initiatives on paper, the outcome will depend on implementations. The present government is there for next five year. The performance of government can’t be gauged through a budget session. The intentions are spot on, we will wait and watch for the result.
Discussion
- RE: Budject 2015 acche din or no? -Tilak (03/01/15)
- from my point of view, union budget 2015 projected to the over all progress of india not for any particular sector but the most important jately wanted to strengthen the economic foundation unless the people's economical relief. and also has a step along the clean and renewable technology which can shut the mouth of develop world in environmental issues.
- RE: Budject 2015 acche din or no? -Gagan Deep Singh (03/01/15)
- I think this budget is a mixture of both good and bad days. Some notable points in this budget are
-accident insurance policy for poor people by paying Re 1 p.m.
-Increasing infrastructure spending by Rs 70 crores and creation of National infrastructure Fund.
-Extra deduction by Rs 50,000 u/s 80CCD i.e. investment in NPS.
-Gold monetization scheme where gold can be used for earning interest on its value otherwise by holding it does not giving any return in cash.
-Reducing corporate tax rate to 25% and stabilize it for next 4 years which brings
somewhere certainty in taxation regime and will lead to spur in investments.
-Certainty on implementation of GST which is the most awaited tax reform.
-Affirming to bring stringent law on black money in current parliament session.
On contrary this budget also lagged somewhere. For instance no clarity by FM on curbing subsidy leakages and whats the govt road map on this. Increasing service tax rate to 14% and also broadening its scope which will eventually inflate all daily routine items like mobile bill, travelling, internet, amusement etc. when increase in income tax exemption slab has already not been given to individuals.
But overall i think that this budget is still very good and it has all potential to raise the investment cycle and job creation in our country if it is full implemented. For a common man he needs to be patient because this budget will produce results surely but slowly.
- RE: Budject 2015 acche din or no? -Abhishek Gosain (03/01/15)
- Budget 2015 is based on Ricardian View, a person has to pay taxes today and enjoys in future or vice versa. In layman terms, middle man will suffer today because of taxtion but will reap benefit in future if allocation is fair. Besides, taxation there are good moves towards agricultural and infrastructural development (which are facing low phase from last few years). Also a admireable take to consider NBFC under RBI. In short, it is in favor for all(rich and middle man).
- RE: Budject 2015 acche din or no? -Sheethal (03/01/15)
- 2015 budget is for Acche din because the central govt has taken many positive initiatives for the common man.There is no change in income tax exemption limits;and they have reduced taxes on many daily consumption items whereas for luxury goods like imported vehicles,tobacco etc taxes were hiked.Besides MGNREGS has seen a significant rise in allocation.States' share of Union taxes has increased thereby states are getting more discretion at spending and this attempt can hopefully ensure a grassroot level of development..!
