TapForMobile

Budget for 2018-19 - Tax sops for electric vehicles


What got cheaper? Union Budget is back.

During the reign of the UPA government, corruption and nepotism were at peak and every section of the society was unhappy.

Welcoming Prime Minister Narendra Modi's plans to "transform" India's economy and his efforts to promote India as a global investment destination, the USIBC said for India to be successful in attracting the worldwide investors, it needs to create a more stable and predictable fiscal regime and address retrospective taxation and legacy cases that remain open.

In December, the government announced it would borrow an additional Rs 50,000 crore in the fiscal year, following the plunge in tax collections after the launch of GST in July 2017. Even the Economic survey says govt needs to focus on employment, education and agriculture in the medium term to ensure robust & inclusive growth.

However, for most non-resident Indians, budget expectations are moderate. It is speculated that govt may come up with a grand plan in this sector.

A prudent budget could also soothe the, which holds a policy review on February 6-7 amid worries it could raise rates in coming months after inflation hit a 17-month high in December, well above its 4 per cent target.

Players in the Fast Moving Consumer Goods sector expect the government to make labour markets more attractive and resume stalled infrastructure projects to create more jobs across sectors. Falling steadily over the past few years, gross fixed capital formation (as a percentage of GDP) in India was 27 per cent in 2016, according to World Bank indicators.


PUSH TO EDUCATION: Education is important for overall development of the country.

But he has to do all this while sticking to the road map of narrowing one of Asia's largest budget deficits, as failing which, India may fall on the wrong side of global investors and credit rating agencies which had late a year ago handed out a rare sovereign upgrade. Choosing this turnover, in the absence of any such evidence, shows the apathetic nature of the Government towards small businesses.

While income tax benefits can be provided to buyers through this Budget, the GST Council nod would be required for lowering the GST rate.

"USIBC members believe that unless resolved, the lack of clarity in the government's approach to taxation risk will undermine progress in other areas of the economy and will continue to damage India's reputation among investors", said the memorandum running into 39 pages.

RELIEF IN OIL SECTOR: People expect that the government will provide relief from rising petroleum prices by reducing excise duty on petrol and diesel.

The Budget presentation kicks off with traditions and rituals where halwa, an India dessert, is distributed among the Finance Ministry staff.

The Budget may see new rural schemes and stepping up of funding towards existing programmes like MNREGA, rural housing, irrigation projects and crop insurance.

Related Articles

  • The new modification of the Nokia 3310

    The new modification of the Nokia 3310

    There's no official word yet on the pricing and availability of the phone in China and other global markets including India . According to, Reliance Jio will reportedly partner with HMD Global to launch the Nokia 3310 4G in India.
    Officer Who Pushed False Hawaii Missile Alert Believed It Was Real

    Officer Who Pushed False Hawaii Missile Alert Believed It Was Real

    The FCC also adopted updates to the system in 2016 that require carriers to let messages be sent in multiple languages. The employee believed the threat was real , and had made the same mistake twice before, state officials said Tuesday.
    Kevin Love breaks hand in game against Pistons

    Kevin Love breaks hand in game against Pistons

    The Eastern Conference champions may have to make a significant move to replace Love, who could be out for more than a month. However, it should be noted that Davis was still very young when he suffered the injury, while Love is now 29 years old.
  • NBA Players Share Support For Cousins After Achilles Injury

    NBA Players Share Support For Cousins After Achilles Injury

    The gamble to pair All-Star big men Cousins and Davis together appeared to be paying off in a big way. The Pelicans will now have to close the final third of the season without their second best player.
    Maroubra police stabbing: Man shot dead after attacking officer near pub

    Maroubra police stabbing: Man shot dead after attacking officer near pub

    A critical incident team from the Homicide Squad has launched an investigation into the stabbing and subsequent shooting. The investigation will be independently reviewed and a report prepared for the coroner.
    Apple Previews iOS 11.3 With Improvements To ARKit, Messages, And More

    Apple Previews iOS 11.3 With Improvements To ARKit, Messages, And More

    If you're not already on the newest version of iOS , your iPhone or iPad will tell you you're ready to download that update. The AML ( Advanced Mobile Location ) feature will help users share their accurate location when placing an emergency call.
  • Volkswagen suspends executive over use of monkeys in exhaust experiments

    Volkswagen suspends executive over use of monkeys in exhaust experiments

    In addition, according to a press release on the Volkswagen Group's media website, the Board of Management suspended Dr. Steg has declared he was taking full responsibility. 'The indignation felt by many people is completely understandable'.
    Mario Draghi helps the Euro to gain strength

    Mario Draghi helps the Euro to gain strength

    Rates these days are not set by governments but by global foreign exchange markets where major currencies are bought and sold. Such comments matter because a weaker dollar can help US exporters by making their goods cheaper against foreign competition.
    President Trump Offers Citizenship Path for Dreamers - with a Few Conditions

    President Trump Offers Citizenship Path for Dreamers - with a Few Conditions

    Let us accomplish a bold and lasting solution for childhood arrivals, and yes, let us deliver enhanced border security too. The proposal also establishes, in writing, that the "Dreamers" will be eligible for citizenship, not just legal residency.
  • 3 dead, 2 injured after helicopter crashes into California house

    3 dead, 2 injured after helicopter crashes into California house

    One of the deceased was a person who was on the ground when the crash occurred. "It was just this intense loud noise". A piece of the helicopter was seen on the roof of a home across the street from where it landed.
    Ben Simmons and Jaylen Brown have curious reactions to Drummond's All-Star nod

    Ben Simmons and Jaylen Brown have curious reactions to Drummond's All-Star nod

    Prior to going without an All-Star last season, the Heat had a representative at the event every year since 2005. On Tuesday, the Washington Wizards announced that star point guard John Wall will undergo knee surgery.
    Danish spies shared intel on Russian hackers

    Danish spies shared intel on Russian hackers

    Their camera access was said to add to evidence that the hacks from the group were backed by Russia's Foreign Intelligence Agency. Cozy Bear has been widely blamed for meddling in the 2016 U.S. elections won by now President Donald Trump.

Comments