New Delhi: Enough indications are coming up to suggest that the Union Budget
for the fiscal year 2016-17 will primarily focus on stimulating growth without deviating too much from the fiscal deficit target set by Mr. Jaitley in his previous Budget 2015.
Finance Minister Arun Jaitley will present his third General Budget around 11 AM on Monday.
As part of the budget process,Rs.5000 cr allocation is expected by the Narendra Modi government.
The Government is expected to unveil a road map for big-ticket disinvestment, threshold limit for Tax Deducted at Source (TDS) to see an increase, announce increases slightly more generous than the recommendations of the Seventh Central Pay Commission, concession for infrastructure financing,reduction in import duties, tax exemption limits may be raised, the lowering of the corporate tax from 30 % to 29 %, bail out the stresses banking sector, the first cut in the series planned to bring it down over the next four years to 25 %, among others.
Housing loan can be the focal point of this year’s budget.
Pension Fund Regulatory and Development Authority (PFRDA) and many more crucial things are going to take place in this year’s budget.
For Budget 2016-17
, the Modi government had invited suggestions from citizens through Twitter for the first time, even conducting a series of polls to gauge public priorities and expectations from the Budget.
People are eager to see that will this year’s budget be a make or break budget or a budget to start up India?
Several reactions are coming in before Finance Minister addresses the parliament. Issues such as Court connectivity is another key expectations coming up before budget on Monday.
When asked should the Finance minister (Arun Jaitley) postpone the fiscal budget? , Senior (BJP) leader Yaswant Sinha replied, he should stick to the revenue deficit as fiscal deficit part doesnt matter that much.
FM leaves for North block around 8:38 am, to meet President shortly.