Union Budget for 2018-19 to be presented tomorrow

Union Budget for 2018-19 to be presented tomorrow

Expectations from various sections are high, as this is the last full budget before the 2019 general elections and Narendra Modi government has to win over hearts and minds of rural populace. This is the first budget in post-GST era, and that why it holds high significance as this might be the last chance for the Modi government to showcase plans for its much-touted economic reforms.

On February 27, 1999, then finance minister Yashwant Sinha started the tradition of presenting the Union Budget in the morning.

The Budget session of the Parliament has been commenced from From February 29 and will last up to February 29. The TOI website has put up a comprehensive and interactive coverage of the Union Budget. However, the government has taken various measures to resolve the issue. The Finance Minister is likely to address the roadblocks in the path of Digital India.

"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.

Also constraining him would be the rise in global oil prices, which can stoke inflation as well as widen current account deficit.Some kind of incentives to boost exports of certain sectors may be announced while there may be announcements for start-ups as well as for promoting entrepreneurship. In his first stint as finance minister, Desai presented five regular Budgets and one interim Budget from 1959 to 1963. Though, PM has already said that the Union Budget will add a new vigour to India's development & will fulfill aspirations of people. We wish the honourable Finance Minister would offer a wide range of benefits in this budget to those manufacturers who are following all the rules and regulations.

CORPORATE TAX: Will Jaitley cut the headline corporate income tax rate from 30 percent? Revival of the sector is one of the biggest challenges before the governement in this budget.

But a deficit above 3.2 percent could hit shares and send bond yields up by 20-25 basis points, depending on the size of the blowout, on fears of populist policy ahead of next year's elections. Behind the budget document is a long and complex policymaking process.

Given the overall environment, macro-economic research firm Capital Economics says the Indian finance ministry is going to face "a delicate balancing act" in the budget.

'With the Government's continuous push towards speedy initiation of IT, digitization and various technology-driven initiatives, we are very positive about the upcoming Union Budget 2018-19. It is also speculated that the budget may reinstitute the concept of standard deduction to provide some relief to tax-payers.

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