1 Day to Go, Budget 2017

By Jaya Khare : 

In next 24 hours the Union Finance Minister will present his third budget in the Indian parliament. A budget from which common man and industry of the country have huge expectations.Everybody from a house wife to a businessman is hoping that the Finance Minister will have some news to rejoice for them in the Budget.
Where the world economy is still struggling and lingering to neutralize the impact from the international slow down, the India economy immerged a robust one, against the oil price disturbance or the slowdown of chinies economy, India with stand all.

The Indian economy is without doubt a major performer  in the world economy. Agricultural activity in India contributes only 23% to the gdp .  India has  considerable command of the English language and the technological abilities of certain sections of the, population. Of the one billion residents under salaried sectors, have an income that enables them to purchase consumer goods while on the other hand. This system of distribution makes our economy dependent on farming ie farmers and salaried class in major. This build the common population and here the feed back form common man. WTN spoke to a large number of people to learn their expectations they have from the Budget 2017 on February 1.

Nandita Malhotra working in a  mnc bank says,   Considersing the government's focus on digitalisation, it will help if there are tax exemptions for customers on electronic banking transactions over a certain limit. There is a pressing need for credit revival, therefore liberal credit policies and cheaper industrial loans are important along with caoex enhancement by the govt. Also, higher allocation to infrastrucfure, housing and urban development will help boost the economy further. 


Piyus Shrivastava, AVP in a Mumbai Based MNC say, my expectation as a Salaried Class from  Budget this year are ;         Citizens filing the ITR under the head Salary should be additional sops (Like waiver service Tax , Educational cess , swatch Bharat Tax etc accounting for ) Since they have all transaction in white and mostly Online only.
•         Revision of Limits is never satisfying need, However considering the Track History of last 5-10 years of ITR filed, certain exemption to be given for regular honest Tax payers.
•         Slabs to be revised to bring some relief to Average middle class (urban and semi urban) having less than 20LPA.
•         National Pension scheme (NPS) is the government promoted shceme for retiral funds , so the withdrawls and Annuity should be made 100% Tax free since withdrawal is futuristic in nature.

Senior, Scientist and Professor Gumashta says ,Pro poor budget need not to be anti rich. Hence, budget should address key capacity building areas for poor and not try to extract more money from the pockets of especially the middle and upper middle class in the name of facility, service and support expansion. The government must search quick and sustainable means to increase its income and lessen wasteful expenditure thereby generating smart funds for development.


Sonali a Ditecian by profession and also a house wife says,

Post demonetisataion expectations of tax cuts are soaring high. It will be beneficial if there is an increase in the income tax slab limits. Also, with the implementation of GST almost certain now, we are expecting a positive impact on the economy due to simplified indirect tax structure, better credit scenario etc.



Mayank Singh an Engineer and in line of construction says
“Current budget should be growth oriented. Individual tax should be reduced. Business loans should be made cheaper and easy available. i.e bank rates should be reduced. Duties on luxuries shall be increased. Medical and educational institutions must be curbed financially”.


Sushma Singh a house wife from Bhopal said, I am expecting from budget a lot. An income of 5 lakhs should be made tax free. Petrol diesel and their products should become cheap and fees of higher education should also be considered.


A software engineer and working at Volkswagen Prashant Gupta from Pune says, Considering the trailor against black money as a step of demonetization I would like that the remaining steps should also be implemented immediately like the changing the slab of income tax or abolishing it and putting the much hyped Banking Transaction tax. Second some stringent reforms on foreign trade from neighboring countries like China and alike nations .


 Vijju Pillai, from Indian Navy says 
There should be Increase income tax slabs and income tax should be reduced by 25 percent.



A  School teacher Zainab

A budget that will help underprivileged students pursue higher studies and cheaper electronic gadgets to make the government's Digital India a success 
Incentives for digital payments.



Jaishree Nair, a boutique owner says
1. INCOME TAX SLAB TO BE HIGHER AROUND 5 LACS
2. LIMITS UNDER 80C SHOULD BE INCREASED FROM 1.5LACS TO AT LEAST 3 LACS
3. Sectors working in women empowerment should be rewarded by subsidy or reduction in extra charges like cess, swachabharat
4.Women entrepreneurs should be given genuine  subsidy in loans and loan process should be easy.
5. Payments through any cards or online should not have any extra charges as it is burden on business or customer.


 Mukesh Rawal a business personin telecom from Pune says 
1. Income tax slab and rate should be revised.
a. 3L - 5%
b. 7L - 15%
c. 12L - 25%
2. Attractive Saving: In demonetization government has taken all the house hold saving, now it's time to promote the savings in Bank.
3. Digital India:  Digitalized all land records, Different charges on digital payment should be removed and some incentive to be announced to promote it, like 500MB free data to everyone, 5-10% cash back etc..
4. Focus on infrastructure should be increased: it creates job and give development 
5. Support Farmers: Realistic crop insurance scheme should be launched, promote agriculture by neutralize the middle man, better minimum crop price.


Shilpa Maheswari a House wife wants ,
Reduction in  rates of daily required items like grocery petrol gas cylinder medicines , control over high fees in private schools nd collages, Resarvation to any cast should be removed permanently and she also wants,  No sc st dalit or backward all citizens have equal right.


Dhrindra Mishra a professional in education and training from Raipur- said, We expect that government will come up with better income tax rates for middle class and upper middle class people and will reduce the excise and custom duties on electronics, cars and other services. We also expect that government shall have a better aviation policy as the sector is unnecessarily exploiting the customers.


Souresh expectes,  tax changes which are pending since 2016 and welfare measures and pro-poor schemes which could see a surge in social spending expenditures. Also some sort of rebates on digital payments.





Rohit Agarwal, an interior decorator from Bhopal, mentions his expectation form Budget 2017
As, I am a business man and in this perspective I expect various taxes to be made null and void, and banking transaction tax should be implemented this is going to impact entire market. Currently approximately 1.5 % people of the entire population pay tax, more should be done towards this so that less tax can be taken form more people eventually increasing government Income and reduced tax burden on masses. Income tax slab needs to be increased.-

Bindu G Nair,working in Indian Railways says in my opeinion, Income tax slab to be increased. upto 5 lakhs - no tax, 5 to 10 lakhs- 10% and above 10 lakhs- 20%.Cost of building materials and construction may be reduced.Farmers should be given subsidy on electricity, water, seeds, fertilizers etc.. Also they should be given loans at interest free rates.Also their children should be given free education upto college level and should be motivated to opt for farming as a profession.

Suman Ghosh who is an artist by profession and works in a leading advertisement company said, he expect , Government should increase budget funding towards education and health, which are major sector to build a healthy and developed nation.

Yash Pal Singh a Delhi base salaried and working a MNC, expects 1.Tax payer advantage 2.Reduction in interest rate loans 3..Increase in interest rate for deposits 4. Social security- WTN