Budget 2018-19

The farmers collectively purchase goods from growers and sell them at rates lower than prevailing market prices The Budget 2018-19 may announce haats and organic hubs in 1,000 village clusters across the country. Modelled on Harihar Haath in Jagdalpur district of Chhattisgarh, these markets will enable villagers to sell their produce directly to consumers, bypassing middlemen, thereby helping them realise a good price for their produce. Started as a pilot project in 2017, Harihar Haath is a unique bottoms-up approach to farm marketing. It is a consortium of four farmer-producer companies, five cooperatives, and 13 women self-help groups. It has been taking great strides to create a risk-free space for farmers. The farmers collectively purchase goods from growers and sell them at rates lower than prevailing market prices. Most of the farmers are women, drawn from self-help groups under the Mahila Kisan Sashaktikaran Pariyojana of the rural development ministry. ...

This is the team that will spearhead what will essentially be the Prime Minister's vision document for 2019  As the Narendra Modi government presents its fifth and final Union Budget before the 2019 polls, this is the team that will spearhead what will essentially be the Prime Minister’s vision document for 2019 and beyond along with Finance Minister Arun Jaitley.   Hasmukh Adhia FINANCE SECRETARY Adhia was designated finance secretary when Ashok Lavasa retired in October. The senior most official in handling GST, he still has a lot on his platter as he looks to ensure revenue buoyancy, while removing the complications arising from the new levy’s less-than-perfect roll-out. He is also one of the masterminds behind demonetisation. Adhia is a strong contender to be the next Cabinet secretary.   Subhash Garg ECONOMIC AFFAIRS SECRETARY A 1983 batch Rajasthan cadre officer, Garg took over as economic affairs secretary in June, after the retirem...

Major expectation from Budget 2018 is the reduction in Income tax charges and limits On February 1, 2018, the entire nation would be glued to their televisions as the Finance Minister Mr. Arun Jaitely presents the Union Budget 2018 . This is the fifth budget being unveiled by the present government and is considered the most critical in their term. With major reforms such as GST Act, demonetisation, RERA, Jan Dhan Accounts, affordable housing, etc. that have swept our economy for past two years, the general public and economic experts are now looking at reaping the benefits of these milestones. The current government goes into elections next year and therefore, there are major expectations from this budget. One major expectation is the reduction in Income tax charges and limits. Tax rates in India are one of the highest in world, particularly corporate and indirect tax rates. Even taxation on individuals is complex and quite high for an emerging market. India stan...

Mr. Kalirona stated that if the government supports the manufacturing sector of mobile industry, it would support our Prime Minister's vision of "Make in India".   The entire nation has their eyes set on the fifth and last full-fledged Union Budget in Narendra Modi’s government to be presented in Lok Sabha. This Union Budget will be presented on February 1, 2018, by Mr. Arun Jaitley, our Finance Minister. This Union Budget has a lot of significance as it is presented after two big financial decisions made in Mr. Modi’s government- Demonetization and GST. The previous year’s budget was also very unique as railway budget and general budget were presented on the same day. Everybody is expecting some statement to be made about their respective sector in this Union Budget. There is anticipation that mobile phones may become cheaper after February 1, 2018. Union Budget 2018 : Smartphones to go cheaper? Mobile phones are seen in every common man’s possession, especia...

Tax relief is expected both by personal income tax and corporate tax payers in the Budget 2018. One of the most anticipated developments from the Budget 2018 is revision of the tax slabs. Tax relief is expected both by personal income tax and corporate tax payers in the Budget 2018. One of the most anticipated developments from the Budget 2018 is revision of the tax slabs. There have been proposals made to the FM for revision on both tax slabs for personal income tax payers and reduction of tax rates for corporate tax payers. In all the surveys conducted by various media houses and financial bodies, it is widely believed that the raise in basic exemption limit on personal income tax is a done deal. Other than that, there are also various other expectations and desires of various sectors and entities from the FM. For common man an increase in the exemption limit under Section 80C, increase in medical reimbursement component, tax sops for investment in life, health insuranc...

Experts believe that budget 2018 will be no different in fact the FM is expected to focus more on rural India and its economy with renewed vigor. Union budget 2017 In his budget speech on 1st February 2017 the finance minister stated that he proposes to present the budget under ten distinct themes and rural population was one of the said themes. Experts believe that budget 2018 will be no different in fact the FM is expected to focus more on rural India and its economy with renewed vigor. Consecutive years of drought and then demonetization have had its impact on the rural economy too, but recent surge in tractor sales may indicate that the worse may be behind us. Tractor manufacturers sold a whopping 363,071 unit in the April - September 2017 period, a 21% increase compared to the same period last year. Over the last couple of years policies such as farm loan waiver and subsidies have become a norm but these sops do not reach the small farmers, may be fiscally unviable and e...

Annual budget in simple language means a projected income and expenditure for the entire 12 months. The Annual budgets apply to a fiscal year or calendar year. What is Union Budget ? Our parliamentary system works on West Minister model. Our Annual budget is approved subject to the approval of legislature at both center and state levels. The Annual financial statements is presented before both the houses of Parliament. This is also termed as the budget of the Union government. The expenditure estimates included in the budget has to be presented before the Lok Sabha in the form of “Demand for Grants”. Union Budget Date In Our country, the budget is presented on a fixed date as decided by the President. This year The Union Budget 2018 will be presented on February 1, Parliamentary Affairs Minister Ananth Kumar announced on 5th of January. The minister further stated that the budget session of the parliament will be conducted from January 29 to April 6, 2018. Th...

The PM also rejected criticism of providing jobless growth, saying "lies" were being spread about employment generation Union budget 2018 : : With barely 10 days for the presentation of the fifth and final Budget of the current term of his government, Prime Minister Narendra Modi has indicated it might not be populist. In an interview to the Times Now television channel, telecast on Sunday evening, the PM said he was open to more changes in the goods and services tax (GST). Its implementation was a collective exercise involving ruling and opposition parties; he accused those having termed it a ‘Gabbar Singh Tax’ of “insulting" Parliament. The PM also rejected criticism of providing jobless growth, saying "lies" were being spread about employment generation and furnished data from a recent study to say seven million jobs have been created. However, he acknowledged farm distress. He said it was the responsibility of central and state government...

Expecting sops and concessions from the Budget 2018   The Budget session will start from 29th January and the Union Budget will be tabled on 1st February. With less than a fortnight left for the Budget 2018-19 to be presented in the Parliament various sectors are contemplating what will be the impact of the same on them. With upcoming assembly elections in Meghalaya, Tripura, Nagaland, Karnataka, Mizoram, Chhattisgarh, Madhya Pradesh, Rajasthan, all before the general elections in 2019 for the 17th Lok Sabha some popular measures especially to woo the middleclass like modifications in the tax slabs and hike in personal tax exemptions are highly likely. But now that the adverse impact of some major reforms such as GST and demonetization behind, various sectors are also expecting sops and concessions from the Budget 2018. Mentioned below are some of the details. Real Estate Sector We have seen reforms such as RERA, Demonetization and GST being disruptive for the real ...

PwC and Business Standard look at the current scenario in India's banking sector, the issues facing it and what the industry expects from Finance Minister Arun Jaitley in upcoming Union Budget 2018-19 budget 2018-19 While there has been a lot of push lately on digital transactions from the Narendra Modi-led central government, it is expected that the coming Union Budget 2018-19 will see Finance Minister Arun Jaitley renewing the thrust by announcing some incentives for small businesses to increasingly go digital in so far as banking transactions are concerned. Also, against the backdrop of the government’s plan to recapitalise public-sector banks, which have been suffering because of their ballooning non-performing assets, Budget 2018 will be keenly watched for any announcement towards that end. PwC and Business Standard look at the present scenario in the banking sector, the issues facing it, and the Budget expectations the industry has from Finance Minister Arun Jait...