Only a few days before Finance Minister Arun Jaitley will announce the last budget of the 2013-2018 tenure. As we look upto his speech on February 1, 2018, here’s what we feel will be included in India’s 2018 budget.
Clearly, the government is focussing on agriculture, infrastructure, housing and power. The Modi government is aiming at creating renewable energy resources in the country. Solar and Hydro energy is likely to find a mention in the Union Budget 2018.
Expected Highlights of Union Budget 2018
- Higher impetus to SME sector and other small businesses will be the pulse of the Budget 2018.
- Incentivisation of transacting digitally is another thing the budget is most likely to mention.
- Owing to escalating pressure on the companies, the Union budget 2018 is likely to curb corporate income taxes.
- Even education sector is likely to boost after the budget 2018.
- Considering the massive increase of rapes and child atrocities, the government may also allocate some funds to increasing safety for women and child.
- Skill development, something which is already running in the veins of Modi-led Indian government is likely to find more attention and funds.
- A provision of free medical assistance for those victimised in accidents is also likely to be created by FM Jaitley. A special mention and allocation to the public hospitals can also be expected in this time’s budget.
- As far as the stock market income is concerned, the market is expecting an imposition of LTCG on holding securities for less than 3 years. This has soured the market sentiments ahead of the Budget day.
Because from last year, the Union budget has been integrated with the railway budget, here’s what to expect from the same
- Improving safety of women and other passengers
- Improving cleanliness and timeliness
Below is what the Indian citizens are expecting
- Increase the exemption limit from 1.5 lakh to 2 lakh under the deducation section 80C.
- Expand the non-taxable income limit to 3 lakh from 2.5 lakh.
- Lower tax incidence in income tax slabs
- Reduce tax incidence on surplus tax to 25%