In this budget , acceleration of money flow in the economy should be ensured through various measures , as still the foot prints of recent global financial turmoil are visible .The budget may provide for increasing the ceiling on foreign direct investment(FDI ) across categories & look into new areas for attracting foreign direct investment , which would directly help for booming up of the economy & employment. The budget should follow a very focused approach on the withdrawal of two stimulus packages announced by the government during global financial turmoil and it should be withdrawn in a phased manner .The budget should also give a clear date to implement the GST ( Goods & Service Tax ) , as it will help in boosting confidence for FDI , as well as industry as a whole including retail sector .The budget may also give a direction on the GST rates to be followed during GST regime and as far as possible it should consider single GST rate in order to implement GST in true sense.More SOPs should be provided to IT / ITES sector ,as it provides lot of employment opportunities to our young Population .The same should be done for textile sector , as it is one of the biggest employment sector in our country.In agriculture sector, the budget should provide for various schemes to educate the farmers to produce cash cropsand GM crops .This will directly help for rural upliftment and will help for increasing the exports and GDP. In order accelerate the money flow in the economy , the housing sector plays a very important role .The budget should consider increasing the exemption under Section 24 to Rs.3,00,000/- instead of Rs.1,50,000/- presently .This will certainly help in generating more demand for houses , which will directly help in reviving the housing sector and will create more demand for cement , steel & mass employment .The limit of Rs.1 Lac for Investments which qualifies under Section 80 C should not be increased , so as to encourage public spending indirectly .The budget should also provide clear roadmap to control the unplanned expenditure , so as to arrest fiscal deficit. The fiscal deficit should be controlledat any cost and FM may announce various measures in this direction.
Ashok Vashisht
Financial Controller ,
Multinational Company ( MNC )
Rajahmundry (A.P.)
Cell : 09966410725
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