The Union Finance Minister Shri Arun Jaitley will present his Budget proposal on Thursday i.e. 10th July, 2014 with an extensive effort to meet the demand of tax sops of the middle class community and to curb the current pursuing fiscal deficit to increase investment and growth.
The Budget 2014-15 will be presented by the all new BJP-led Government, which promised for providing relief to the common man hit by inflation, high fiscal deficit, stagnant investments and other external factors effecting the same. There is an increasing hope from the new government that it will raise the tax slabs and shall provide an annual tax exemption for the salaried class.
For giving a bullet like boost to the investment, the minister is expected to provide relief and announce tax incentives for the industry, as the government had already extended the excise duty exemptions for automobile and consumer durable sectors.
He is also further expected to provide relief to the farmers to overcome the condition of deficient monsoon as that would reduce the agricultural output and may set up a price stabilization fund for the same to control the unwanted sharp price rise.
Above all , all the eyes are now set to look forward to the new Budget as to gain a stable tax regime for the country which would further improve the economic condition of the country.
