- Narendra Modi meets Pranab Mukherjee, discusses issues related to Budget session of ParliamentExpectations from the BudgetBudget: Tax incentives on development of housing projects in affordable to mid income categoryBuild-up to Budget: PM Narendra Modi govt's reforms to target bank funding
The first Budget of Modi's government will be presented on July 10,2014 by the Finance Minister Arun Jaitley, while Rail Budget will be presented on July 8, 2014. In this Union budget of 2014-15 salaried class and industry have a lot of expectations, be it tax exemption, hike in the transport allowances, increasing the rebate cap on home loans, subsidiaries to the farmers and the issues like women and senior citizen taxation.
The major heads to be looked upon during budget are as follows:
Income tax exemption limit – The tax free income slab is expected to increase from the current limit of 2 lac to 3 lac , and for women it is expected to go up till 3.5 from current limit of 2 lac.
Retail Investors- Government should bring more schemes not only to benefit first time investors ( tax benefits provided under Rajiv Gandhi Saving Schemes to first time investors in equity segment) but also to the other investors.
The government this time has to keep in mind the expectations of common man from Union Budget, so government has to deal this time in such a manner that this Budget craetes a win-win situation for both the public as well as the government.