Expectation from Union Budget 2013-14

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It has been executed in GNIT COLLEGE OF MANAGEMENT on 26th of feb 2013

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PowerPoint Presentation:

Presented By :- Kanhaiya Kumar Mahadev Rana GNIT College of Management Expectations from Union Budget 2013 - 14 On Target

What is Budgeting ?:

The annual exercise of budgeting is a means for detailing the roadmap for efficient use of public resources. What is Budgeting ?

PowerPoint Presentation:

Post independence, the first budget was presented on November 26, 1947 by India's first Finance Minister Sri R.K. Shanmugham Chetty. Budget in History

PowerPoint Presentation:

The Union Budget of India, also referred as the General Budget , is presented each year on the last working day of February by the Finance Minister of India to the Parliament. Union Budget

Passing of Budget :

Passing of Budget The annual India budget has to be passed by the House of the parliament before it can come into effect on April 1, the start of India's financial year The Indian parliament has one month to review and modify the government's budget proposals If by April 1, the parliamentary discussion on the budget has not been completed, the budget as proposed by the minister of finance goes into effect subject to retroactive modifications after the parliamentary review.

THE GREAT EXPECTATIONS FROM THE UNION BUDGET 2013-14:

Indian economy expected to grow at 9 per cent with an outside band of +/- 0.25 per cent in 2013-14. THE GREAT EXPECTATIONS FROM THE UNION BUDGET 2013-14 Average inflation expected to lower next year and current account deficit expected to decrease

Expectations of Indian Agriculture:

Expectations of Indian Agriculture improve production through better yield Decrease the cost of agricultural chemicals, urea, seeds etc More investments in storage of goods Rashtriya krishi vikas Yojana(RKVY) should be increased to Rs. 1500 crore Adoption of new policies under agriculture sector More subsidy on loans to farmers Vidarbha Intensified Irrigation Development Programme under RKVY.

Expectations of Indian Industry:

Expectations of Indian Industry Interest rates to go down, Stop the bank loan processing fees for the small business Tax reduction on custom duty Adoption of new policy for up gradation of machinery Bailout package for industry Improvement in IT industry

Expectations of the infrastructure sector:

Expectations of the infrastructure sector Avoid any measure that affect the cost of housing projects Industry status for hospitality sector Focus on implementation in order to achieve projected growth Connect rural area to urban area through pradhanmantri sadak yojana Alocation for rural drinking water Comprehensive policy for PPP projects.

Expectations of common man:

Cold storage facility Better access to farms Scrap MNREGA Allow FDI in vegetable industry Boards or developmental agencies for indigenous produce Decrease the price of food and grains Expectations of common man

Expectation of tax payee:

Expectation of tax payee The base tax exemption slab might be raised from Rs 2 lakh to Rs 2.2 lakh Lock-in period for tax saving fixed deposits may be reduced from the current 5 years to 3 years Widening of scope for Rajiv Gandhi Equity Savings Scheme (RGESS) The income tax exemption on payment of interest on housing loans may be raised from current Rs 1.5 lakh to Rs 3 lakh. provide more guidance on new taxation avenues

Expectation of subsidy:

Expectation of subsidy Subsidy for urea under consideration. Direct transfer of cash subsidy to people living below poverty line for better delivery of kerosene, LPG and fertilizers Reduce the tax on diesel and petrol

Expectation of Fiscal Consolidation:

Expectation of Fiscal Consolidation Strategy Adapting Strategies Traditional Models

Thanking You…:

Thanking You…

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