Highlights of Indian Union Budget 2016-17 :
Today the Finance minister Arun Jaitly going to present the annual budget 1st after forming the full majority government under BJP in the last central elections. The government has the high chances of taking reforms for economic growth in india and common man looking forward for that.Get the details for future reference.
Rs 5,300 crore for micro-irrigation
Rs 25,000 crore for rural infrastructure
Rs 34,699 cr for MNREGA
Rs 8.5 lakh crore farm credit in FY16
Rs 33,150 crore towards healthcare.
Rs 75 crore for electric vehicles
set up 5 ultra mega power projects of 4,000 mw
Infrastructure expenditure go up to Rs 70000 crore.
Rs 20,000 crore for Mudra Bank to boost SMEs
Likely to end FY15 with GDP of 7.4%
GST to be in place by April 1, 2017. etc..
Analysis of How Union Budget 2016-17 Should be :
From the views of top economists across the country the government should concentrate on Income Tax slabs. The Congress government in the july 2017 interim budget session increased the slab of Tax by 50000 rs. But the analysts says that the income tax should be completely abolished from Union Budget 2016-17 onwards. This statement will surprise you but it is true that this income tax is mostly has been paying by the middle class people and new entrepreneur.
What about poor people ? They even do not touch the minimum slab of income tax, so they need not worry about all this stuff. And coming to the big heads like Ambani, Birlas etc. They all almost not paying income tax by recruiting the cunning charted accountants and finally they show their income is not falling under any tax payable. What a joke ? you know one thing ? Birla group showed 80,000 rs as their income last financial year (approx) is it true ? A school kid can say it is wrong. And coming to Ambani group, they did not pay a single rupee as income tax till 1996 as income tax.
All these kind of wrong things happening in india since ages. So finally we understand that the income tax payers are only middle class people and new entrepreneurs. These people should come out of the tax payment system. then the Indian economic growth will change and boost up to the new heights by abolishing the income tax in this budget.
Dr. subramanya swamy who is the seniour BJP leader says this fact and fighting for that since years and expecting some positive signs in this Union Budget 2016-17 by finance minister Arun Jaitly. Last manmohan sarkar budget also was the blueprint of the swamy. The figure if you see once the total income for the central government from the income tax is nearly 2 lakh crores per year. You may think this is huge money and it becomes burden to the government to handle. But it is wrong estimation. This 2 lakh crore is all from middle class people.
If we leave them they will grow themselves and they become strength to our economy growth and we can full fill this loss from other sectors like coal mines, Spectrum auctions etc. and also the government should bring back almost 120 lakh crore block money from other countries. And by successful auctions of coal mines, 2G, 3G spectrum brings us tens of lakhs of crores to the government. SO this way we can boost the Indian economy which is analyzed by the top economists.
And the other things which should be announced in this year budget are mentioned below.
Important Notes on Union Budget 2016-17 :
* In 2016-17 the DGP growth rate should reach 8%.
* Economic growth trajectory should touch 10% or more that in.
* Reforms should takes place in wide range.
* Fourteenth Finance Commission should enhance fiscal federalism.
* Huge Growth rate in tech startups
* Make in India mission should spread Like anything by introducing IT services to the villages.
* Tourism sector growth
* Need for balance between Make in India and Skilling India
* Agricultural commodities
* Greater public investment in railways