Billion people, billion expectations

— DNA

Citizens want revised tax slabs, improvement in health sector, more job opportunities 

As the Narendra Modi government table their first budget on Thursday, the industry has its hopes pinned on what it hopes will be a ‘reformist’ budget. The budget will be a first glimpse into the framework of the new government’s economic agenda for the coming years.

Pragmatic and hopeful 

Kedar Sabne, financial controller, Cybage Software said that this year’s budget has a different flavor all together. “Last few budgets were “accommodative” budgets, this year the budget could be a hope budget. Every individual is aware that things will not change overnight, so a pragmatic approach is already built in the thought process; hence the task of the new majority government is to make right moves, which will not daunt the hope of 130 crores Indians. Decisive direct tax regime for better tax planning and corporate expansion, removing ambiguities in existing tax laws to avoid double taxation will boost corporate confidence of both Indian and foreign companies. Young salaried class should be rewarded for being the genuine tax payer, they are the first who pay tax and then take home the net salary. The housing needs in this class are growing, some sop on the interest rates, increase in allowable deduction on account of interest and principal on housing loan and also increase in the amount of mediclaim should be looked into, this is certainly impacting their savings,” he said.