That is for the primary time in Indian history that theUnion Price range will be introduced on February 1 as an alternative of the regular date of February 28. Finance Minister of India Arun Jaitley will present the Union Budget on February 1.
It has been lower than three months after Prime Minister Narendra Modi introduced demonetization, so it will be a little bit of problem for the finance minister to present a effectively-balanced price range. Persons are making guesses on what the funds will carry for them. Will they get shocked or will it’s a nice surprise for them?
Here are few issues that customers are expecting from Parliament Funds 2017. Read on to know extra!
People need the finance minister to reconsider the tax slab and widen it. With the rising value of residing, it is important that the exemption restrict must be increased. Presently the exemption limit is 2.5 Lakhs.
Salaried employee staying in rented homes additionally has excessive hopes from the finance minister. Property prices are shooting up in every single place in the nation. Considering the current situation, it can be a clever move if the HRA exemption of fifty% of basic wage can be prolonged to Tier-2 cities.
In the 2016-2017 finances, the finance minister rolled out a scheme to equip the healthcare sector of India. The finances aimed toward putting extra money in the hand of the residents. Nonetheless, in price range 2017-2018, the exemption on account of medical reimbursement needs to be doubled.
It is going to be a positive surprise for nearly all of the country individuals if excise charges for petroleum products are diminished. Beforehand excise duty on crude oil import was enhanced to compensate for the tax losses. Nonetheless now that the price has risen per barrel, the government can think about cutting down the excise duty on oil.