Union budget is scheduled for 29th feb.
The third budget to be presented.
The economic scenario is bleak.
Stock market has crashed to lowest levels since two years. Sensex has lost 6000 points from 29thousand plus to 23 thousand odd.Nifty50 has gone below 7000
mark.
Sarkari banks are bleeding due to stressed assets and NPA. commodity and power sector are in doldrums.
Though , govt is boasting of 7% plus growth rates , it is is not being felt on the ground with feel good factor.
Rural distress with rural labour, agriculture in dire straits due to either drought or unseasonal winter rains is calling for relief.
So the budget is likely to be rural friendly with insistence on maintaining fiscal deficit and inflation control.
In addition banks are looking for capital infusion of at leastwith 35000 cr from budget , Their requirement is double of that.
Seventh pay commission this year is further going to strain the exchequer.
The investment in infrastructure rail ,road , bridges, port connectivety are required to restart growth in industrial sector.
Then education and health need to be provided for.
Tax base need to get increased with sops for increased exemption upto 3 lakhs for lowest rung and higher 80c benefits.
There would be compulsions not to reduce food and fertiliser subsidies.
A govt which prided itself for being business friendly has to talk of garibi hatao and has to veer to the left.
What a come down.
Govt has to pay lip service to the poor and lower middle class needs and oblige the rich industry with loan write off from banks.
Govt has to decide who is their core constituency. It is a tough call.
With state elections due , Govts options are few.
Let us see something good emerges in this budgets.
My expectations are few.
I would not like to lose my subsidies on utilities, gas, rail ,air travel.
I would like sops for reviving house building.
I would like black money hunts to stop as housing industry cannot survive without it. They are killing the golden goose which gives money to exchequer
I would like govt to not eat off the benefits of lower oil prices thru higher taxes on these oil products and pass on the same to citizens.
Instead of talking about durga and mahishasura , the govt can provide a decent budget.
Is it too much to hope for?
.
The third budget to be presented.
The economic scenario is bleak.
Stock market has crashed to lowest levels since two years. Sensex has lost 6000 points from 29thousand plus to 23 thousand odd.Nifty50 has gone below 7000
mark.
Sarkari banks are bleeding due to stressed assets and NPA. commodity and power sector are in doldrums.
Though , govt is boasting of 7% plus growth rates , it is is not being felt on the ground with feel good factor.
Rural distress with rural labour, agriculture in dire straits due to either drought or unseasonal winter rains is calling for relief.
So the budget is likely to be rural friendly with insistence on maintaining fiscal deficit and inflation control.
In addition banks are looking for capital infusion of at leastwith 35000 cr from budget , Their requirement is double of that.
Seventh pay commission this year is further going to strain the exchequer.
The investment in infrastructure rail ,road , bridges, port connectivety are required to restart growth in industrial sector.
Then education and health need to be provided for.
Tax base need to get increased with sops for increased exemption upto 3 lakhs for lowest rung and higher 80c benefits.
There would be compulsions not to reduce food and fertiliser subsidies.
A govt which prided itself for being business friendly has to talk of garibi hatao and has to veer to the left.
What a come down.
Govt has to pay lip service to the poor and lower middle class needs and oblige the rich industry with loan write off from banks.
Govt has to decide who is their core constituency. It is a tough call.
With state elections due , Govts options are few.
Let us see something good emerges in this budgets.
My expectations are few.
I would not like to lose my subsidies on utilities, gas, rail ,air travel.
I would like sops for reviving house building.
I would like black money hunts to stop as housing industry cannot survive without it. They are killing the golden goose which gives money to exchequer
I would like govt to not eat off the benefits of lower oil prices thru higher taxes on these oil products and pass on the same to citizens.
Instead of talking about durga and mahishasura , the govt can provide a decent budget.
Is it too much to hope for?
.
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