Union Budget 2018 Arun Jaitley's budget speech

Can Middle class hope for a big relief in 2018-19 Budget?

"The government has sought to reclassify imported solar panels and modules in a category that attracts 7.5 per cent duty and various kinds of cess whereby the cost of a solar cell, around 30 cents at present, will go up to around 50 cents for Indian developers if 70 per cent safeguard duty is imposed".

A prudent budget could also soothe the Reserve Bank of India, which holds a policy review on February 6-7 amid worries it could raise rates in coming months after inflation hit a 17-month high in December, well above its 4 percent target.

But a recent spike in inflation, tightening cash conditions, and worries about fiscal slippage have sent the 10-year bond yield up more than 80 basis points since July, the biggest move since the 2013 rupee crisis.

Although India has evolved from having tax rates for individuals of nearly 98% in the 1970s to a three-slab structure with the highest being at 30%, the corporate tax rate remains to be rationalised.

He has to manoeuvre all this within limited scope of tinkering with tax rates given that central excise duty, which was levied on goods manufactured in the country, and service tax have both been subsumed in the GST and he no longer has the sole power to fix rates on them.

Another factor which can weigh on revenue is the rise in oil prices.

Some incentives to boost exports in certain sectors may be announced while there may be announcements for start-ups as well as for promoting entrepreneurship.

Markets remain nervous after the government's annual economic survey on Monday suggested "a pause" in fiscal consolidation, sending bonds plummeting. Or will he signal a move to fiscal deficit range from fixed target. The shortfall was largely due to reduced dividends from government companies, which the government looks to bridge through stake sale in state-owned firms like HPCL. The Budget presentation will commence at 11 am. He also merged the Railway Budget, usually presented two days before, along with the general one, ending a 92-year-old practice.

Last year, The Narendra Modi government has ended the colonial era tradition to present the Budget on the last working day of the second month of the year, i.e, February.

Economists say that Budget 2018 should announce policies to kick-start the investment cycle, which will help put economic recovery on a firmer footing.

The Budget for 2018-19 will be the first Budget after the implementation of the GST regime.

The PM said Make in India programme will foster economic growth as it aims at utilising the existing Indian talent base, creating additional employment opportunities and empowering secondary and tertiary sector. For the current fiscal year, the fiscal target is 3.2 per cent and the government is unlikely to meet that goal.

Related News:



Most liked

Vaping too causes cancer, says study
A study in mice, published today in Proceedings of the National Academy of Sciences , is sure to provide fodder for both sides. Some experts not involved in the study aren't so enthusiastic about the findings.

Alex Smith Will Reportedly Be Traded to Washington!
"From what I've heard, it's a tough market, man, if I'm making it about the media, I've got bigger problems", Cousins said. But we've seen it happen before (Donovan McNabb to the Redskins) and the Broncos should at least explore the option.

Child Health Experts Urge Facebook to Scrap 'Messenger Kids' App
Nope-incredibly, they have instead rolled out junior versions of their platforms so that even more kids will use them. Messenger Kids is also created to be compliant with the Children's Online Privacy and Protection Act (COPPA).

Flu shots recommended as season has yet to hit peak
One person, a child , has died from the flu so far in NY , health department officials said. Call your doctor or take your child to the doctor right away if they develop flu symptoms.

Nokia 2 to receive Android 8.1 Oreo update soon
In addition, it will also come with an 18:9 display and thin bezel design that is seen as a feature on most smartphones now. HMD Global's Chief Product Officer Juho Sarvikas has now announced that Nokia 3 will soon get the Android Oreo beta build.

Dominant Donaldson takes early lead in Dubai
The biggest move on day four arrived from Scotland's Richie Ramsay, who claimed a share of sixth courtesy of a 64. McIlroy finished on 22 under a shot behind the victor in a record-breaking battling final round.

Indians will stop using Chief Wahoo logo in 2019
She celebrated the fact that instead of just quietly changing the logo, Major League Baseball said it was inappropriate to use. Dolan's acknowledgement that removing it from the on-field uniform by the start of the 2019 season is the right course".

IKEA Furniture Magnate Ingvar Kamprad Dies at 91
His decision to live overseas , mainly in Switzerland , to avoid Sweden's high income taxes was also widely criticised. Employees prepare pictures for a display featuring Ingvar Kamprad at the IKEA museum, in Almhult, Sweden .

FBI Deputy Director McCabe Quits Early
Fox News reports that FBI Director Christopher Wray went to the Capitol yesterday to view the House Intelligence Committee's memo. FBI Deputy Director Andrew McCabe walks to a meeting with members of the House of Representatives on December 21, 2017.

Dominates to GTLM Victory in Rolex 24
The No. 5 Action Express Cadillac DPi with Felipe Albuquerque at the wheel, took the checkered flag in the Rolex 24 on Sunday. Corvette finished third and fourth, albeit a lap adrift of the Fords, as the Risi Competizione Ferrari squad claimed fifth.

Five people dead in Pennsylvania shooting
Three of the victims fatally shot were men while two others were women, ABC News affiliate station WTAE in Pittsburgh reported . Family members say a domestic dispute spurred the shooting deaths of five people at a Pennsylvania auto wash.

TL;DR: Pakistan sign off with T20 series win
Pakistan thus levelled the series 1-1 after the hosts won the first match by seven wickets at the Westpac Stadium in Wellington. Ross Taylor (24) and Santner (24*) also chipped in with their cameos but Pakistan were not to be denied a much-needed victory.

Pro-Russian Czech president Milos Zeman wins second term
The Czech constitution gives presidents limited executive powers, but President Zeman has not hesitated to test the boundaries. Addressing reporters and supporters - including the heads of far-right parties - Zeman thanked the voters for his re-election.

France to say 'au revoir' to coal by 2021
He will visit Monday a Toyota plant in northern France before heading to the evening business event at the chateau of Versailles. Macron's " Make Our Planet Great Again " program casts environmental protection as a pillar in reforming the country's economy.

John Elway early in process of retooling Broncos
It has been two years since Peyton Manning retired, and the Broncos' cast of quarterbacks has been a revolving door of starters. I love being around my teammates, leading and having responsibilities. "There's still a couple balls I wish I had back".