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This 2 page Document was uploaded by an elite notetaker on Monday December 21, 2015. The Document belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 9 views.
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Date Created: 12/21/15
Union budget Every Indian is waiting for the Union budget analysis FY 13-14 with bated breath. The budget announcement day always will see the all citizens glued to all modes of media in order to take in the latest budget news. Live India budget news is expected to hog the limelight be tracked by every Indian. Our Finance Minister Mr. P. Chidambaram will present a budget for FY 2013-14, which is not only intended to make the market more investment friendly but also plug India’s widening fiscal deficit through prudent tax collections. With the macroeconomic fundamentals of India presenting a gruesome picture, formulating a budget to infuse buoyancy among the citizens will prove to be quite a challenging task for the Finance Minister. Subdued imports, declining industrial output and slowdown in consumption pattern have plagued the Indian economy in the past fiscal year. Rising oil imports and slowing exports have led the current account deficit in India as a percentage of the GDP to swell to the unsustainable level of 5.4% for Q2 2012-2013. The Government now aims to hold the fiscal deficit at 5.3% of the GDP and adopt astute expenditure minimization and revenue maximization measures. In a move to shore up the scenario, the Finance Minister, Mr. P. Chidambaram targets to raise more than Rs. 5.05 lakh crore in fiscal year 2013-14 from indirect taxes which consists of excise, customs and service tax. Meanwhile, revision of personal income tax slabs and new direct taxation policies will also be crucial factors. Fiscal policies to give an impetus to infrastructural development with judicious treatment of tax holidays and incentives for the sector are the major expectations. Furthermore, plans to make the real estate sector a more regulated one to encourage transparency and dissuade artificially inflated prices, is also likely to take the centre stage. Decision on the fate of securities transaction tax (STT) and short term capital gains tax is also eagerly awaited by the capital markets. The Union budget live streaming will be a storehouse of surprises and is certain to keep everyone hooked to their television sets. Related Links: finance news, Savings-Interest-Rates
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