What are your expectations on the coming INDAIN BUDGET?

Hello friends,

We all are from different walks of life & obviously we will be having varied expectations & dreams about the coming Budget lets see what the people have to say & what are their expectations on the Finance Budget of India scheduled to be released on 29th March by Hon. FM .

Let us have a discussion on the topic & predict the coming Budget.

Please enter your comments & views on the topic....

Reply 1

The coming Budget could give support to the capital goods industry with a view to stimulating investments in the economy.

Particularly needed is an incentive package for the domestic textile engineering industry, considering that government’s own estimate says the textile sector would place fresh demands for machinery worth Rs 1 lakh crore in the next five years. (Whether this estimate holds true even after the decline in textile exports due to the rupee’s rise is another question). Anyway, the government has an obligation to salvage the textile industry from its current morbidity and spur its growth, given that it is highly employment-intensive and potentially, a smashing forex earner). What can the Budget do? A technology upgradation fund would be an additional incentive for the FDI waiting at the doorsteps. Setting up of sector-specific parks in locations near the existing machinery manufacturing activity is another policy option.

The present excise duty structure makes it difficult to source machinery inputs at a lower price. This is one reason for the lack of investment in the sector for the last few years. The Budget could correct this

Reply 2

We expect a lot of good things from this budget especially during this perid of recession. Also as there is election, FM may give a good budget for a common man

1. We expect that rates of oil and petroleum products should drop.

2. Budget should promote investment in industry

3. It should be a better budget for share market

4. It should give some good options for salaried people

Reply 3

There is lots of burden on the Government, as they didnot get expected revenue this year due to recession. As the recession still continuing further, there is lots of gap between revenue and expenses.

There are lots of expectations from the Government to support Capital Market, Banking Sector.

The infrastructure projects have to be strengthened in the budget.

The very important factor on Govt., is to give some thing to the public too as the Elections are going to come.

I think Petrol prices will be reduced well before Union Budget.

Reply 4

My expectation, in not only in this budget but on earlier budgets, is this.

India should ban export of raw minerals and ores. Rather India should only export materials converted from this raw minerals and ores. this would give some sort of employment facilities in India.

Does this sounds fine?

Now a days investments in foregin country is possible.

At the same time power tarrif in India is High.

Companies can openup a facility in Qatar or UAE just for the above purposes to take advantage of the low power cost for working on the raw minerals and ores.

Will such a facility be practicall possible?

Reply 5

Income Tax Exemption From Budget 2008 entails several issues concerning different sections of the taxation system in the country. Various charitable organizations carrying out commercial activities get an easy exemption from income tax. This kind of income tax exemption is probably to be removed. This measure is very much likely to be included in the upcoming budget for the year 2008-09. There are speculations that there would be modifications or alterations in the tax exemption plan availed by several companies.

Since under this tax exemption plan, many companies in the year 2006-07 became nontaxable. Because of this exemption plan, corporate sector suffered a revenue loss of Rs 50,000 crores. According to the studies carried out, this calculated loss in revenue was around 44% greater than the loss suffered in the previous year.

Various organizations got exempted from paying taxes because such companies got themselves registered under the Section 12A of Income Tax Act 1961. After scrutinizing such companies closely, the Central Board of Direct Taxes or the CBDT found that such companies in the name of charity carry out other plans and become nontaxable that leads to misuse of the funds.

It is anticipated that there might be some constructive and positive alterations regarding this issue in the upcoming budget of 2008-09. This modifications might make up for some loss occurring over the years. It is also expected that the limit for the tax exemption would also be increased from Rs 40,000 to Rs 1,50,000 and it is very much likely to be included in the forthcoming budget of 2008-09.

Reply 6

Dear friends, The first and foremost expectation is that the government will take certain measures to overcome unemployment. Next the government has to concentrate on the farmers. India being a land of villages the budget should be such that villages should be developed so that migration of people from villages to cities should be stopped. People below the poverty line should be taken into care. Certain measures should be taken to improve the quality of education as well as literacy rate. Many good industries should be started and developed further.