Union Budget India 2018 - 19 Expectations & Opportunities

Tuesday, January 2, 2018

Union Budget India 2018 - 19 Expectations & Opportunities



Union Budget Of India

The Union Budget of India also pronounced as the Annual financial statement of India. It is an annual budget represented in the parliament presented by existing party which runs the Government. The budgets are presented on the first day of February. Generally, the union budgets are presented by Finance Minister of India in the parliament and took some days for execution.


The budget which is presented by the Finance Minister, the bill, and the Appropriation bill has to be passed by both the Houses before it comes to existence from April 1, the start of India's financial year. Till 2016, the budgets were presented on the last working day of February by the Finance Minister of India in Parliament.

Today, we are going to discuss the union budgets for 2018 which is presented by Finance Minister of India. As all citizen of India has keen eyes on the upcoming budgets. All have many expectations from budgets like cut off the price in various things like a vegetable, petrol any many more. Youth also expect some opportunity for their career as well.    


Short Details:
Name of Budget
Union Budget of India
Represented by
Finance Minister of India from ruling party
Presented In
Parliament
Date of Presenting
1st Feb 2018


Preparation of Budgets:
The Union Budget is an annual financial statement of receipts and expenditures are calculated by the Government of India in respect of each financial year. This year also, the government has decided to combine the Rail Budget with General Budget in 2018 Union Budget. On 1st Feb 2018, the Finance Minister Arun Jaitley will present the Union Budget in Parliament with this new concept. During the process of printing documents of the Union Budgets, the finance minister and other officials were participating in 'halwa ceremony.


Expectations & Opportunities:
Following are the expectations and the opportunities that every citizen of India want from the Union Budget 2018 which is presented by our Finance Minister of India:


·         Encourage digital payments:
It may be possible that this budget may be more focused on the Digital Payment because many times by various Ministers of ruling party have talked about E- payments, cashless and other concepts. In the process of creating a cash-free economy which makes more suitability for managing the money, everyone expecting that budget should have some point on digital payments and provide for ample enabling infrastructure. This will encourage SMEs to adopt digital finance channels and become a part of the formal financing ecosystem.

·         Relaxation in GST’s in goods:
Every citizen of India is suffering from the concepts which are executed by ruling party that Good Service Tax (GST). Every businessman, entrepreneur and all people are allowed to GST on every product while purchasing. Now in this Union Budget, everyone wants to know what relaxations are made on GST as it coursing high rates on various goods. As GST is most trending topic talk in India many of times. So, everyone is looking for some good point to be discussed in the parliament while presenting the budget 2018.

·         Rail Security and Facilities:
India Rail is one the bigger hands for increasing economy of India. Indian Railway is also largest transportation system in India. Lakhs of people daily suffer from trains in a day. So their security is also important. People do not meet any cause of an accident, or any miss happens these things should be mentioned in the budgets. Introduction of new technology so that prevention on accident may occur As well as more attractive facilities should be provided like decrements on fairs, increase the quality of foods, and many more.

·         Controls on increasing Rates of Goods:
Governments should have controls over simultaneously increasing for a rate in various goods. Day by Day the rates of vegetable are increasing, it has become difficult for middle-class family and lower-middle-class family for purchasing. Many more prices on various good have been increased. The government should have to go through these columns because these the daily living goods which require a very citizen of India.

·         Increments in Job opportunities and Salary:
Ruling party should also mention the opportunities for various bachelor’s those who are struggling for the job till now. As jobs are reducing and getting a job is also becoming day by day. So, the opportunity should increase the job for various candidates those are struggling for a job till now. Increasing in Government job should be most preferable, as most of the candidates work hard for getting suitable jobs. And also increment on salary for various employments those who deserving one.


These are some expectation an opportunity that every citizen of India will be looking in the budget 2018. We hope that you have got all information regarding Union Budgets which will be only presented.


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