This year for first time, union budget 2018-19 will be presented on 1st Feb 2018.
What are your expectation?
For the first time GST will be discussed in a budget and government will make lot of changes.
Here are my expectation:
- Increase minimum tax limit to 5,00,000 for Income Tax. Looking at current inflation rate and inflation in cities making minimum limit to 5 lakhs make sense.
- Do something about high education fee and high rent in cities.
- Decrease number of GST returns. Currently every 5 days we have to file a return.
- Subsidy for first time house buyers.
- Burst the real estate bubble.
If these changes are made. I am fine with budget from a citizen's point of view.
What are your expectations?
This time everyone has big hope with Budget. This will be a tough situation for government as it could be the last budget full for current government.
BJP had view of 500000 before forming the government so increasing limit is likely but not sure it may be done.
Government should stop playing with rebates and directly amend the minimum limit.
Real estate is a big concern. Evey income earner spend atleast 30% of his income on house rent and 20% on education. Where is savings?
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