Hello Friend,
The Budget is around the corner and people have started talking whether it would be another populist budget or there would be some bold decisions taken by the government before the elections next year to prove themselves.
The government is trying its best to reduce the deficit by selling of its shares in PSU, increasing its indirect tax collection by introducing the negative list approach to service tax last year. The government have shown is last ten months that they are not going for any more populist policies whether its the case of increasing the passengers fare in railways for the first time after a decade or implementing the foreign direct investment in multi-brand retail or single brand retail.
The government had taken some bold decisions to decrease its fiscal deficit by slowly deregularising diesel, LPG and hike in petrol prices which are main cause of inflation and flow of money. There would be some news in store regarding same in upcoming budget as well.
The direct tax code and goods and service tax which is being delayed since long but this year budget would have something positive on both front. The companies bill and IFRS is also expected to be implemented in near future, so all those related to finance would actually have a revolutionary year ahead.
The individual tax payers would again see some more relief in tax this year and have some tax sops for first time investors.
So be ready for 28th Feb 2013, tell me what do you expect from the upcoming budget.
