Thanks for staying with us in the run-up to the Budget. Moneycontrol will bring you live updates, highlights and analysis from Budget 2018.
Edelweiss Group chairman Rashesh Shah, who also heads the industry lobby Ficci as its president, has called for laying down a strategic road-map in the
Budget to ensure higher non-tax revenue.
In an extensive interview ahead of the Budget, Shah urged the finance minister to unveil a road-map for “continuous and steady growth in non-tax revenues in a strategic manner.”
Shah, who has spent over quarter of a century in the corporate and financial markets and is one of the leading industry spokespersons, started Edelweiss in 1996 which has since grown into one of the leading diversified financial services conglomerates with presence in broking and investment banking, MF, ARC that’s the largest today, NBFC etc.
18:07 SMEs Budget wishlist: More projects, lower taxes
Ahead of the Budget, a survey has revealed that 87.5 per cent small and medium enterprises from the transport sector expect more projects to be announced such as Bharatmala road building programme, while 54 per cent of retail and e-commerce SMEs want a national retail policy.
The Dun & Bradstreet SAP SME Survey on the Budget expectations of SMEs across various segments also found that 43 per cent respondents from the metal and mining sector want the government to expand profit-linked incentives to include capital-intensive industries. However, 88 per cent feel the government is likely to maintain a protectionist mindset, promoting indigenous manufacturing.
According to the survey, 56 per cent SMEs from the automotive sector expect reduction in GST rates on ancillaries as suggested by Automotive Component Manufacturers Association of India, whereas 88 per cent expect encouraging steps towards Bharat Stage adoption.
17:38 Here are highlights from what to expect from the upcoming Budget. The expectations are from experts, reports and surveys.
>Many reports and experts have suggested that the Budget 2018 will have in store a tax slab rejig. The expectations come to play as it will give more purchasing power to the common man and small entrepreneurs and the experts suggest that minimum exemption limit will be may be increased from the current level of Rs. 2.5 lakh to Rs. 3 lakh per annum. Calculate your Income Tax here.
> Reports and experts have suggested that house rent charges in major Southern cities - Bengaluru or Hyderabad - are not less as compared to Mumbai, Delhi, Kolkata and Chennai. Keeping this in mind, the government should also include many other cities in the category of the higher exemptions for HRA in cities.
>The revenue from the RCS air fares, which are already economical, so to say and are controlled. It is, however, not enough to cover the expenses airline incur and the VGF is important for the operations to continue. Last year, the exemption was ordered to be valid for a year. The sector is expecting Jaitley to extend the exemption for at least another year. Read our story here.
>A LocalCircles Survey, conducted in 200 cities and with a sample size of more than 1,25,000 citizens, points that 38% citizens want agriculture, 34% want infrastructure, 12% want healthcare and 16% want education to be the top priority in the Budget tomorrow. This, the survey points, that the majority is more keen on agriculture benefitting from the efforts by the government.15:59
Hello and good evening everyone! With the Budget 2018 scheduled to be presented tomorrow, here's a round-up of key expectations, stories and updates.