Budget is a document that sums up the nation’s finances and provides an inkling of expectations in the next 12 months. Amidst strong headwinds in global financial markets, local inflationary pressures and runaway prices, what can be a set of reasonable expectations for Budget 2012.
Indian Budget has always been the biggest show for the government to gain the public support , It’s the report card that need to be presented before the reality has to be delivered.
Below are the certain expectations from different set of group – a nation of over a billion
For salaried people tax sops on housing loans and higher tax exemption limits from the current 180K for man and 190K for woman may be raised to 2.5Lkh.
The corporate sector looking to read the fine print on excise duty harmonisation, any changes in depreciation rates, dividend distribution tax changes and service tax items.
The curious and detrimental FIIs,would try to decipher any algorithms amidst new investment provisions in the budget.
Well the list continues with the expectations of the common man never willing to cease and in every budget as people are serious to know what has been offered to them.
Here are some of the way how the present government alumni had concluded there budgets in their era :-
February 28, 1958: “While we should always be prepared to reconsider the methods we adopt, should this become necessary, we have to strive with all our strength for our planned development by conserving all our resources, increasing production and trying to ensure progressively a more equitable distribution and to thus raise the standards of the great mass of our people,” – Jawaharlal Nehru as Union Finance Minister
February 28, 1970: “It is generally accepted that social, economic and political stability is not possible without the growth of productive forces and the augmentation of national wealth. Also, that such growth and increase in wealth cannot be sustained without due regard to the welfare of the weaker sections of the community,” – Indira Gandhi as Union Finance Minister
February 28, 1987: “Twenty nine years ago, presenting the country’s Budget, Jawaharlal Nehru told this house [that…] we have to strive with all our strength for our planned development by conserving all our resources, increasing production and trying to ensure progressively a more equitable distribution and to thus raise the standards of the great mass of our people…Our principal objectives are the elimination of poverty and the building of a strong, modern, self-reliant independent economy,” – Rajiv Gandhi as Union Finance Minister
So fingers crossed and I hope the finance minister deliver to the expectations of billion as there are lot of people involved working extra overs to cover the show …..
Till the time enjoy the rail budget : A cash strappedIndian Railways, which runs 10,500 trains and ferries 22 million passengers !!