Published On: Thu, Feb 1st, 2018

Finance Minister set to present Union Budget Today

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The Union Finance Minister, Arun Jaitley, has reached parliament to present the most awaited ‘Union Budget’ today.

At first, he will present the budget in the Lower House (Lok Sabha). Later, in this day itself, the budget will be tabled in the Upper House (Rajya Sabha).

While the FM is doing his last minute preparations for the presentation, several questions are silently resonating in the parliament.

Will the government reverse the income tax slabs? Will there be any changes in the Goods and Services Tax system? What will be any populist policies? Will it addresses all concerns raised by the Economic Survey presented a couple of days before?

A senior economic expert opines that though there would not be any serious changes in the indirect taxes as the preponderance of these taxes is now under the GST, the budget might propose some serious changes in the direct taxes.

He also adds that as the general election is very near, the government might try to announce some populist policies through the budget to ensure the support of the rural population.

If the things works in the way like what the senior economic expert has predicted, those working in the agricultural sector -that is, those belonging to the poor rural population- are going to get some benefits from the budget this time.

 

Vignesh. S. G

Photo Courtesy: Google/ images are subject to copyright 

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Finance Minister set to present Union Budget Today