Budget 2018-19

the BJP government is more popular in urban areas than it is in the countryside   Unlike most countries, the Union budget 2018 is usually an eventful affair in India and is a heated topic of national conversation around the time of its release. The underlying national interest behind it is mostly because the budget holds something for everyone -- ranging from a small farmer to a big industrialist. However, from this year onwards, much of its sheen will be off by a bit. The tinkering of indirect taxes, which was an aspect of the budget that affected everyone in all corners of the country, is not within the Centre's domain anymore. Since the implementation of the Goods and Services Tax (GST), all indirect taxes -- except for customs duty -- have to be decided upon by the GST Council instead of being annually altered based on short-term political interests. Therefore, the first budget after the GST reform will be a challenging one for the government. The fact that ...

At present, formal sector workers with 5 or more years of service are eligible for Rs 1 mn tax-free gratuity after leaving a job or at time of superannuation   Payment of Gratuity Amendment Bill 2017 is likely to be passed in the forthcoming Budget session, which will make formal sector workers eligible for tax-free Rs 2 million (Rs 20 lakh) gratuity. At present, formal sector workers with five or more years of service are eligible for Rs 1 million (Rs 10 lakh) tax-free gratuity after leaving a job or at time of superannuation. "The Payment of Gratuity (Amendment) Bill, 2017, will be passed in the Budget session of Parliament, expected to begin by the end of this month," a source said. The source further said, "The government wants to provide tax-free gratuity of Rs 2 million (Rs 20 lakh) to organised sector workers at par with central government." The Bill was introduced in the Lok Sabha in the winter session of Parliament last month. Once the ...

Arun Jaitley is the 24th finance minister to present India Budget on the floor of the House since Independence. Before Budget 2018, as many as 88 Union Budgets, including interim, have been presente     On February 1, Finance Minister Arun Jaitley will present the Budget 2018, his fifth and the Narendra Modi-led National Democratic Alliance (NDA) government’s final full Budget in the ongoing term. Budget 2018-19 will also be important in many respects because India has just had a fiscally difficult year and might need its finance minister to put things in order through a tight leash on the economy. However, there are also some who say that Jaitley might be impelled to dole out freebies in Union Budget 2018, in spite of the fisc, out of political compulsions – to shore up popular support for the ruling coalition going into the 2019 Lok Sabha elections. ALSO READ: Budget 2018 needn't be populist Whether Union Budget 2018-19 will be a fiscally prudent Budget or a p...