Budget 2018-19

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...

Industry also seeks higher tax benefits for home buyers, especially as the unit prices in metro cities are higher Budget 2018-19 In the year 2017, we saw the rollout of the goods and services tax (GST) and the implementation of the Real Estate (Regulation and Development) Act (RERA). The twin policy moves, in addition to the lingering effects of the demonetisation exercise of late 2016, had an adverse impact in the short run on real estate sale and the overall economy. However, these moves also brought about consolidation and transparency in the sector. Now, in the Budget 2018, the last full Budget of the present government before the general elections of 2019, we hope Finance Minister Arun Jaitley will – after granting infrastructure status to affordable housing – also spread this benefit to the entire real estate sector. Also, considering the cost of homes in cities, the rebate on home loans must be increased and tax exemptions be given. On the supply side, the governme...

The changes will be effective from January 25; 15 states to start intra-state e-way bill from February 1        Union budget 2018 Two weeks ahead of Budget 2018, the Goods and Services Tax (GST) Council on Thursday cut rates on 83 employment-oriented goods and services, in a bid to encourage greater compliance as revenues have dipped since the landmark reform was announced in July. The panel, headed by Finance Minister Arun Jaitley and comprising representatives of all states, at its 25th meeting decided to reduce tax rate on 29 items and 54 categories of services with effect from January 25. Businesses have raised concerns about high rates of taxation and cumbersome processes in GST, billed as India's biggest tax reform in 70 years. The goods on which GST will be lowered include biofuel-run buses, used motor vehicles and diamonds and precious stones. Here's the complete list: List of goods on which GST rate recommended for reduction from 28% to 1...

Budget 2018 - Mentioned below are the highlights of various Budget documents presented to Parliament by the Finance Minister other than his Budget Speech. Budget 2018-19 :  Common to all finance ministers is the briefcase that they carry to the Parliament and pose with on the day of the union budget 2018. In fact the word budget is derived from the French word 'bougette', which means a small bag. The practise is actually a colonial tradition which was started by William Ewart Gladstone, the Chancellor of the Exchequer of Great Britain in 1860 when he first carried a red briefcase or a budget box. British Chancellors hand over the same red box to their successors, a practise which is not followed in India. It is understood that the said briefcase contains the budget speech. But do you know what other budget documents are presented to Parliament on the day of the Budget? Mentioned below are the highlights of various Budget documents presented to Parliament by the Fina...

Nadda sought a 'bare minimum' budget of nearly $10 billion for 2018-19, which is 33% higher than last year Union budget 2018 India is poised to raise its public health spending by 11 per cent in the annual budget next month, after rejecting Health Minister JP Nadda's demand for a much bigger increase to ramp up disease control, according to government sources and documents. Nadda sought a "bare minimum" budget of nearly $10 billion for 2018-19, which is 33 per cent higher than last year, in a letter to the finance minister on Nov. 26, which Reuters has reviewed. Nadda argued the funds were needed for expanding vaccination coverage, free drugs distribution, and also to ward off a growing threat of non-communicable diseases, such as cancer and diabetes, which killed 6 million people in India in 2016. His request was not approved: the health budget is expected to rise by 11 per cent to $8.2 billion, three government officials told Reuters. They d...

Industry wants the government to focus on reducing timelines from project conception to completion Union budget 2018 It is believed that investment in India’s infrastructure industry would yield more impact if all related projects are planned and delivered on the same timeline. This is seen as key to the success particularly of industrial corridors and nodes being planned. Under the Sagarmala initiative, ports are now being integrated with roads, railways, and coastal industrial zones/SEZs. Dedicated freight corridors could be a key component, though there appears to be limited progress after the first two corridors. Business Standard and PwC look at the present situation of the infrastructure sector, key issues facing it, and what the industry wants from Finance Minister Arun Jaitley in the upcoming Union Budget 2018-19. Key issues facing the sector Integrated planning and delivery of projects Investments in infrastructure would yield more impact if all related pro...

While's India's economy may be growing at a fast pace, the story on the jobs creation front is just the opposite     Budget 2018-19 :  Before India goes to polls in General Elections 2019, the government is likely to provide India with its first National Employment Policy (NEP) to address the crucial issue of job creation. The policy, which may be announced in the upcoming Budget, will have a comprehensive roadmap outlined for all the employers and workers in a bid to create quality jobs across all sectors through economic, social and labour policy interventions. While's India's economy may be growing at a fast pace, the story on the jobs creation front is just the opposite. Hence, Narendra Modi-led BJP government will want to make an attempt to brighten the picture in the upcoming budget session. The National Employment Policy will include — Incentives for employers to create more jobs — Reforms to attract enterprises — Help for medium and small sca...

India's tourism sector grew over 1% in the six months ending September   Budget 2018-19 India is planning to cut taxes on travel and tourism in next month's federal budget and give more incentives to the Rs 13 trillion sector, government sources said, hoping to boost economic growth and create more jobs. The move could add to a domestic tourism boom in the world's second most populous nation, where low inflation and rising incomes are changing lifestyles and consumption patterns of an estimated 250 million middle-class Indians. With scores of destinations introduced on airline routes last year, air travel is also surging. India's tourism sector grew over 10 per cent in the six months ending September, compared to near 8 per cent in the year-ago period. According to an industry report, tourism employs 40 million people in India and could add 10 million jobs in a decade. "We'll announce measures in the budget to promote investment in the tourism sec...

As per existing regulations, if there are losses in a fund at the end of its life, the same cannot be passed onto its investors At a time when Finance Minister Arun Jaitley and his team would be getting set for Union Budget 2018-19 , the private equity industry is seeking a pass-through of losses at the fund level for Category 1 and Category 2 alternative investment funds (AIFs). According to the existing regulations, if there are losses in a fund at the end of its life, the same cannot be passed onto its investors. ‘‘This is a big issue with VC or infra funds. Over a fund life of eight-to-nine years, a fund may end up with one or two loss-making firms,” says Gopal Srinivasan, president, Indian Private Equity & Venture Capital Association. The regulations say that profits can be passed onto investors, but losses have to be kept at the fund level. Interestingly, Sebi’s original venture capital regulations of 1996 allowed this. These were replaced by Sebi’s AIF ...

One way the government could give job creation a boost is by tweaking taxation laws to provide companies an incentive for hiring Budget 2018 : Employment creation is one of Modi government's greatest difficulties, with the Opposition utilizing what it calls the administration's poor execution in such manner as a stick to beat the head administrator's financial strategies with. With Budget 2018 not as much as a month away, and with business age apparently being a key topic this year, one way the legislature could give work creation a lift is by tweaking tax collection laws to give organizations a motivator to procuring. India as of now gives tax breaks to boost work creation by organizations. Nonetheless, as per a Times of India report, certain lacunae in the tenets have kept many organizations, especially from the administrations part, from receiving the rewards of such motivators. In perspective of this, as per the national day by day, the administration c...

Amid confusing taxation rules, new legislature, capping and trust deficit, Union Budget 2018 can be pivotal in highlighting the importance of health and well-being for Indians “The best way to predict your future is to create it.” When Abraham Lincoln was saying these words, he used them to instil motivation, enthusiasm and new vigour in the American people. Today, many decades after and continents away, these lines seem apt for a year ahead in India. Budget 2018 Just as we dwell on the aspects that need to be set right this year – in the Budget 2018-19 and outside of it – we prepare our industry resolution to understand that our actions have impacts on generations to come. We as healthcare providers and as active participants in the story of ‘Evolving India’ have been entrusted to pay a pivotal role and we, through our small endeavours, may be playing a major role in the changing landscape of healthcare in our country. Just when we are battling taxation rules, new ...