Published on Feb 1, 2019
The video gives you a brief insight on what are the major expectations from the Interim Budget that is going to be presented on Feb 1st while we keep a close watch on the budget to come back with further insights on the presentation.
Take a look at the expectations:-
1)Key concerns around Bharat- Addressing the issues of the farmers.
2)More enhancement on the MSP Front.
3)Tax breaks can be given in different forms and sizes.
4)To reinstate medical allowance and transport allowance.
5) The limit for section 80C can be expected to go up beyond 1.5 lakh.
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So guys on February 1st we are going to view our interim budget being presented by Piyush Goyal since Arun Jaitley cannot be there to present the budget due to certain health ailments, and we expect the budget to bring out few key concerns of the economy, majorly revolving around Bharat as well as India.
- Speaking about Bharat the key thing that we can expect from the budget is addressing the issues that the farmers and the participants in the agriculture industry are facing so obviously it’s not going to be a standard handout like a farm loan waiver, however we expect investment related subsidies like Rythu Bandhu to be introduced at a central level to actually help subsidise the investments made by farmers into certain agricultural technologies and other products related to farming, so that is one.
- The other thing that we can expect is some more enhancement on the MSP front since the last budget boasted a lot on the MSP but the affects rather the positives have’nt been able to trickle down to the farmer level and this year’s extremely overwhelming produce and prices dipping further the economic situation of the farmers seemed to have deteriorated much more instead of being better after the MSP announcement, so these are the 2 keys things that we expect on the farm, agriculture and Bharat Front, you know.
- At the same time when we are talking about India obviously many of us are talking about tax rate cut in the personal tax rates, but that does’nt seem very fiscally prudent at the moment, and having said that you know tax breaks can be given in different forms and sizes.
- Another expectation as well would be that the finance ministry would reinstate medical allowance and transport allowance since the standard deduction allowed in the last budget seems to be quite insufficient given the current costs that one has to incur on both medical and travel fronts or if not that I feel that the limit for the standard deduction would atleast be enhanced to a higher limit, also well the last budget spoke about an extended limit for medical insurance premium paid for senior citizens with growing medical inflation you know, we feel that it is a must have or an absolute need for everyone in India and also under several of the government’s healthcare, programs and initiatives it is important that the tax break expands under section 80D to a higher limit.
- At the same time you know just to infuse the capital market participation in the country and to foster long term savings and investments you can actually expect the limit for section 80C to go up from 1.5 lakh, having said that lets say even if there is an additional 50000 offered under 80C and basic 1 crore people avail it, that would be almost Rs.50000 crore out of the tax net, so while the mathematics is still to be worked out I feel this is a good expectation we have from the budget.
so all in all the budget is going to present a lot many things, these are just a few of our expectations, so you know just watch out for the space we will be watching the budget closely and once the budget is done this is the very space wherein we’ll be sharing our views and opinions on the interim budget on how it is going to impact and change things in India, in our society and your investments as well.
So, guys, lets wait for Feb 1st and keep watching this space, meanwhile download the Fisdom App and keep looking for investments that will continue to grow irrespective of however the budget works out.