LIC Agent in Nagpur

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*MarketConnected Global Updates:*
“Topic in Trend” – Budget Series Part 1- Budget 2017-18 & its Expectations.
Before we start with the discussion on Union Budget let us understand its meaning first. Budget is a financial statement presenting the government’s proposed revenues and spending for a financial year.
**Budget explains:
--Financial performance of the government over the past one year.
--About the financial programmes & policies of the government for the next one year.
--How the standard of living will be affected by the financial policies of the government in the next one year.
Now we will discuss what FY18 Budget expected to deliver:
-As per the market sentiments the government is expected to provide some relief to individual/corporate tax payers and announce an exclusive scheme for the poor. There may be increase in the income tax slab and deduction under Sec 80C. Also reintroduction of Tax-free or Long-term infra bonds will boost investments.
-Since Govt has promised to cut the basic corporate tax rate in four years, of which two years have already passed, we can see a cut in tax rate by 2pp. Also demonetization is expected to have impacted the earnings performance of corporates significantly in 3rd quarter, the upcoming budget would be the perfect time to cut the basic tax rate.
-Union Govt. is most likely to increase its investment spending. With states likely to begin implementation of pay commission awards from FY18, the central government must shift its focus back on the capital spending.
-Step should be taken to encourage digitalization and less-cash economy. Also in the wake of UP elections the government may announce one major pro-poor program.
-After adjusting for devolution of taxes to state governments, the central govt. is expected to have higher tax receipts than the budgeted estimates. Demonetization drive has helped the government to collect additional taxes. All these resources would assist the government to maintain 3% deficit target.
-Govt is expected to utilize half of the additional resources to provide relief to tax payers while other half could be used for the major pro-poor scheme under revenue spending. Also these resources would be utilized by the govt. to make payments under the 7th CPC.
Regards
#cfp
#certifiedfinancialplanner
jayant@jayantharde.com

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