After the GST was implemented, the first budget, Arun Jaitley, reached Parliament

SIBA RINGMASTER, 01/02/2018

New Delhi. After the implementation of the Goods and Services Tax (GST), the country's first general budget will be presented sometime. Finance Minister has reached Parliament. Earlier, he met President Ramnath Kovind. This will be the last full budget of the Modi Government before the 2019 general elections because the interim budget will come next year. The country hopes on many issues from this budget. Like, will the government increase the exemption limit on income tax?

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After the GST was implemented, the first budget, Arun Jaitley, reached Parliament
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What will not happen in this budget after GST?

After the GST is implemented, the GST Council chaired by the Finance Minister is working to change the indirect tax. It is the Minister of Finance of all the States and Union Territories. Why is this budget important for the Modi government? - After the ban on bondage and GST, there was a decline in the economy. The government can increase the fiscal deficit target of 2018-19, because the expenditure on public schemes can increase before the general elections.


This common budget is also important as there are elections in 8 states of Rajasthan, Madhya Pradesh, Chhattisgarh, Karnataka, Nagaland, Mizoram, Tripura and Meghalaya this year. The government can declare these states keeping in mind the plans.


Will the income tax slab get relief?

It is being said that the exemption limit on income tax can be increased from existing 2.5 lakh to 3 lakh rupees. For this, the existing slab of income tax can be changed. Will 80C increase the limit of investment? Last year, the government had increased the deduction limit from Rs 1 lakh to Rs 1.5 lakh under Section 80C of Income Tax. It is expected that in this budget it can be 2 lakhs. Under this, investment tax rebate is given in schemes like PPF, LIC policy and Sukanya prosperity.


Will petrol-diesel rates fall? 

Expectations that Jaitley can announce the reduction of excise duty on petroleum products in the general budget. It will be possible to make petrol and diesel cheaper. Rs 19 for petrol, Rs 15 for diesel Excise duty is. - Tell that gasoline is the most expensive in 4 years. The price of diesel is at the highest level so far. For example, on January 30, petrol 72.02 and diesel 64 rupees per liter sold in Delhi.


Will the rail fare decrease or increase?

This time will the rail fare decrease or increase? It will also be visible to everyone. Four budgets have come since the Modi government came in 2014, but there was no increase in the railway fares at any one time.


Will Digital India be promoted?

 In this budget, emphasis should be on promoting digital transactions to promote cashless economy. Apart from this, the issue of emphasis on cyber security is also being discussed.


Schemes for increasing the income of farmers

According to the government, the increase in the activities of agriculture, forestry and fishing activities in the current financial year is 2.1%. While this was 4.9% last year. Budget analysts say that the government can declare steps to improve production and income in these sectors in their budgets. - Tell that the Modi government promises to double the income of farmers till 2022.


Will the Defense Budget Increase?

It is anticipated that this time the government can increase the defense budget. This is due to the challenges India faces with Pakistan and China. Last year, the government had increased it by 6.2%. In 2017-18, Rs 2,74,114 lakh crores were allocated for defense. At the same time, the 2016-17 budget was 2.58 lakh crores. - In terms of spending on defense, India is at number four in the world. India's defense budget is six times more than Pakistan and three times lower than China.


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