Arun Jaitley to break tradition, to deliver budget in Hindi

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

When is Union Budget 2018?

It's that time of the year again when everyone has a wish list and the burden of expectations lies on the Finance Minister. It is widely believed that without breaching the targets to preserve fiscal consolidation, Modi will face challenges to secure his second term as prime minister in next year's elections.

Finance minister Arun Jaitley will present his fifth and final full budget in the Parliament on Thursday.

A Reuters poll showed most economists expect a 3.2 percent deficit as the government looks to increase investments in key areas such as agriculture to bolster its re-election prospects in elections due by 2019.

- The real estate sector is expecting a cut in the GST rate for under-construction projects, whose flats are now taxed at 12 per cent on sale. From farmers to students to salaried class to India Inc, all are keeping their fingers crossed. Ahead of this year's Union Budget, the Narendra Modi-led NDA government has raised a record Rs 91,253 crore. The budget speech has two parts, Part A and B. While Part A deals with the general economic survey of the country and policy decisions, Part B is about tax proposals.

Jaitley may resort to increasing farm sector allocations to an all-time high, with special focus on government procurement to ensure stable rise in the price of farm products.




"In this year's Budget, we would like to see industry status conferred on the entire real estate sector".

Meanwhile, the Economic Survey was tabled on Monday, January 29.

On top of that, there are speculations about the FM revising the income tax slabs. Be it Bharatmala Project aimed at boosting road connectivity in the country or development of ports under Sagarmala, . government may take several steps to boost the infrastructure sector, which will not only boost the economy but also help in creating jobs. The world is optimistic about India.

It is also expected that the goverment may announce big schemes to generate employment sector. This would certainly have a bearing on overall project costs since developers would be able to raise funds at lower rates and cut down on capital costs, eventually bringing solidity to the realty segment and turning GOI's dream of "Housing for All by 2022" a reality soon.

- Employed parents expect the government to announce an additional tax reduction measure, via the expense incurred on children's education. Experts say minor changes in tax rates are possible in this budget.

Non-performing assets (NPAs) crisis of the public sector banks an issue that has been widely debated on various public platforms. Individuals who earn less than Rs 2.5 lakh are exempted from paying taxes, but it is suggested that they should also file the returns.

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