Union Budget 2017-18
The Government will Present the Union Budget 2017-18 on Feb 1 for the financial year starting on the April 1st
The first part of the budget session of parliament will start on January 31. When the government is expect to present the Economic Survey. Which sets the scene for Finance Minister Arun Jaitley’s fourth annual budget. The official who did not wish to be name, said. The cabinet decided last September to merge the railway budget with the union budget, ending a nearly century-long practice and easing the way for the government to cut populist subsidies and push through structural reforms. It had also decided to scrap a distinction between plan and non-plan expenditures in the annual budget besides advancing the date of the general budget, usually the last working day in February, to ensure proposals take effect from April 1.
In Feb 1st The Merger of the railway budget and The Union Budget Will Be Publish on the Parliament. Problems caused by the government’s demonetisation policy have also added to the industry’s expectations in a big way.
Here Is The Different Types of Sectors Recommend and expect from the Union Budget2017-18:
Banking And Finance:
The Head of The Union Budget.The SEBI Asked The Government to consider a rationalization of taxes in capital markets including that of mutual funds and other Products.In this Budget Proposal to Finance Ministry. In This SEBI Says That Reduce The Securities Transaction Tax on Stock Trading, Sources said. Presently All Stock Markets Transaction attract STT in the range of 0.017 to 0.125 per cent.
And Also suggested The Lowering The period of Holding in Respect of long-term Debt funds units to 12-months from 36-months. The Regulator also says that Increase the Investment limit for the tax-saving-equity mutual-funds schemes to Rs-2lakh from the current Rs-1.5lakh.
In This HSBC Says that Expectation from the Budget are a new fiscal Policy frame work, corporate tax rationalization, higher rural capex and focus on the efficient social sector spending.
According to the Global Financial Service major, the Government should continue with its fiscal consolidation in a “Practical fashion” and sticks to the 3per cent pre-announced fiscal deficit for 2016-17. but give itself headroom for compensating States for revenue losses once GST is in place.
A balancing Act would be to stick to the 3per cent of GDP target for the core fiscal deficit, use extra headroom of strictly 0.3% of GDP for compensating states for GST implementation.
We Expect Progress in the stated objective of gradually reducing the corporate tax rate to 25% while weeding out exemptions.
Mutual Funds Industry Body AMFI as also propose to the Debt-linked Savings Scheme Should be given tax Benefits under the Sec 80 CCC of Income Tax Act, Sources Said. It is also Propose to extend tax benefits available under Rajiv-Gandhi-Equity-Saving-Scheme(RGESS) to all equity funds investor.
AMFI is also propose to extending Sec 54 EC benefits for mutual funds schemes with lock-in period of 3-5 years.
In This Railway Budget estimating the Rs 6.7 trillion business opportunities for the Indian Railway in 5 years. Crisil has said to the Upcoming Union-Budget could Allocate funds to the tune of Rs1.3-1.4trillion to this sector of 2017-18. According to Crisil Research,the Governments move to reinvigorate Indian-Railway offers unprecedented business-opportunities worth Rs6.7trillion in five years to 2020. Crisil Research senior Director Prasad Koparkar said the gross budgetary support would mainly go towards network decongestion and expansion.
“Secured debt of Rs 1.5 trillion from the life insurance corporation of India (LIC), and Rs 523 billion loan from the world bank and the Japan Internation Corporation Agency Have Already been tied up,”Koparkar said. “These will lead to higher allocation for, and faster execution of, strategic and remunerative projects,” he added. The Loan From LIC is expected to boost investment in electrification and track-doubling projects, which offer adequate returns. The Multilateral funds, on the other hand, are expected to aid investment in dedicated freight corridors(DFCs).
Consequently, we see planned capex on network decongestion and rolling stock materializing largely by fiscal 2020 the report noted. Going by Crisil’s estimates, high-impact projects involving decongestion would be prioritize over new lines, and up a Rs2.4-trillion business opportunity.
Investment in rolling stock _locomotives and coaches_is seen at Rs 1.1 trillion. Of this purchase of locomotives would account for nearly half.
Investment in safety are likely to treble to Rs 900 billion, but will fall short of Rs 1.27 trillion target.
The National Federation of Indian Railwaymen, in a Finance Minister Arun Jaitley, has sought that the Income Tax exemption limit to be raise to Rs 6 lakh and Rs 7.5 lakh for senior citizens, and the exemption of transport allowance from the purview of I-T.
In Rail Sectors says that the Allocation of Additional funds for augmenting Railway Training and Railway Community Halls and recreation clubs. “Separate restroom for women employees at the different location to enable them to stay when the visit on railway duties, and additional road mobile medical vans for providing medical treatments to the railway employees and their families living at remote places” are part of NFIR’s demand.
The Railway Budget has been merge with the General Budget and will be present by Jaitley in Parliament on Feb-1.