Union Budget 2018 : Common Man's Wishlist for Union Budget 2018


"This year, the finance minister faces a unique dilemma of balancing growth and inflation amid rising crude oil prices and bond yield", said domestic brokerage Angel Broking in a note. It is also speculated that the budget may reinstitute the concept of standard deduction to provide some relief to tax-payers. This budget will be the last chance for the Modi government to woo the large Indian mass.

Expectations are really high.

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Govt is all set to address farmers problem.

Markets remain nervous after the government's annual economic survey on Monday suggested "a pause" in fiscal consolidation, sending bonds plummeting.

"To facilitate cross-border trade and investment without the barrier of double taxation, the Governments of India and the U.S. should reaffirm the shared commitment to improving tax dispute resolution".

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FOCUS ON RURAL DEVELOPMENT: Govt says that by 2019 every village will be linked with good roads.Toilets, Electricity & internet will also be provided to the villagers.With these key goals. "There is a need to stimulate the private sector investment cycle", said Lakshmi Iyer, head of fixed income at Kotak Asset Management.

The printing of the Budget documents starts roughly a week before the date of the Budget presentation. He said, "It comes at a time when the world is looking at us, be it the global credit-rating agencies, the World Bank, the International Monetary Fund which have been very positive in their opinion about the growth of India and the road ahead". Given the importance of MSME for the overall growth of the economy, this sector needs to stabilise first.

All eyes will be on the fiscal consolidation roadmap and the government's borrowing plans. Given how the government has been true to its promise of bringing down the corporate tax rates in India in the past budgets, it is expected that it may reduce the standard rate of 30 per cent or expand the base for applicability of lower tax rate of 25 per cent by relaxing the conditions for applicability of the lower tax rate.

REVIVING BANKING SECTOR: Banks struggling with the financial crisis and NPAs have great expectations from the budget.

"Naturally, the number one on the wish list of the common man is an increase in the basic exemption limit from Rs250,000 to Rs300,000, considering that the slab rates were last revised in Budget 2014".

"USIBC members believe that unless resolved, the lack of clarity in the government's approach to taxation risk will undermine progress in other areas of the economy and will continue to damage India's reputation among investors", said the memorandum running into 39 pages. We also expect the government to grant industry status to real estate sector to facilitate ease of doing business and access to construction loan at a cheaper cost.