go button



Budget Research



Finance Ministers of India

Pranab Kumar Mukherjee
(1982-1985, Feb 2009-May 2009, May 2009-Continuing)

Pranab Kumar Mukherjee is a prominent leader of India National Congress. He has...
View All Finance Ministers More
Also View:
- Prime Ministers Of India
- RBI Governors
IndiaInfoline arrow Budget arrow Industry Expectations

Provide single rate of CGST and SGST across goods and services: Neetu Bhatia, Kyazoonga.com

India Infoline News Service / 9:48 am , Feb 19, 2010

What do you think is the biggest issue that needs to be addressed in the budget?

Addressing India’s fiscal deficit without hampering growth at a crucial time of economic recovery will be the biggest balancing act that the budget will need to execute on. Both these objectives can be achieved by simplifying the tax code and ensuring compliance without dramatic increases in tax rates which could hamper growth. Putting more money into people’s pockets will drive consumer spending while bigger tax receipts from stricter compliance will help to drive government spending on infrastructure projects and other public services like health and education. Removing the fiscal stimulus provided over the last 18 months should not be the main objective as several developed economies are still staring a potential double-dip in the eye. While inflation at current levels is a serious cause for concern, it should be left to monetary policy to address that.     


Within your sector, what would be your wish for the budget?

The Indian media and entertainment industry is one of the fastest growing industries in the country. Its various segments—film, television, advertising, print and digital among others—have witnessed tremendous growth in the last few years.  According to FICCI and KPMG the media and entertainment industry in India is likely to grow at 12.5 per cent per annum over the next five years and touch US$20.09 billion by 2013. The Budget can be used as a major stimulus to achieve this objective. Some of the possible measures could be:


Single rate of CGST and SGST across goods and services


Incentives for growth of broadband penetration, digital delivery and advancement in technology


Increase the stipulated FDI limit of 26 percent to enable fund raising activity from overseas 


Incentives on export of entertainment content/services 


On a personal front, what would be the best thing you like to hear from the budget? /


What are your expectations from the budget?


On the personal front, I would like to see the government increase the incentive to home-owners by increasing the limit of tax deduction on interest related to home loans or mortgages. Encouraging home ownership will not only help millions achieve their Indian dream but will also lead to a gradual reduction in the grey market as it relates to home prices. Such reduction will help the government to better their receipts in this segment. A hike in the exemption limits of personal income tax as well as a uniform GST will also put more money into the pockets of consumers.


The author Neetu Bhatia is Co-Founder, Chairman & CEO Kyazoonga.com



Janta's Expectations

Posted By: Vishal Mumbai   |  Mar 08, 2010 09:22 PM
No Doubt we have benefited much from new IT slabs....but believe me its gonna being shelled out from our [pockets thru different route....
Posted By: KAUSHIK GUIN KOLKATA   |  Mar 03, 2010 01:20 PM
SENSEX WILL TOUCH 20000
Posted By: k.mohan secunderabad   |  Feb 27, 2010 06:03 PM
Banking cannot be open to private sector. We have not learned from U.S. melt down. In A.P.alone , many private banks closed..........Charminar Bank...The great Global Trust Bank....to name a few.......the middle class lost money......kindly understand.......many middle class people commited suicide after the banks collepsed.....i am afraid history may repeat....
Posted By: Nitin sharma Mumbai   |  Feb 27, 2010 05:30 PM
No expectation from Congress. It is history repeating itself. They have always worked in the interest of Rich and elite group. Now the price of property will increase in another 3 years business will make huge profits. So if you want to have your share invest in share market in companies who will make huge profits and you will get your share of dividend and high stock price.
Posted By: Ritesh chennai   |  Feb 26, 2010 10:44 AM
please increase exemption limit for income tax.
Posted By: Suman Baroda   |  Feb 26, 2010 09:51 AM
Reduce service tax to 5% & remove VAT.
Posted By: stileslesl stileslesl   |  Feb 26, 2010 07:42 AM
relatively policymakers heat northern simulations radiative levels
Posted By: Uma MageshWaran Chennai   |  Feb 26, 2010 05:56 AM
basically disagree with the fundamental premise that there should be accelerated withdrawal of the stimulus. Things are still very uncertain at the global level. So, I think the withdrawal should be gradual. The big problem really is the financing of the budget. The bond market, in fact, is very concerned about the liquidity situation. From what the RBI has said the net government borrowing this year will be the same as last year, and the gross borrowings because of the redemptions will be much larger this year. The market simply cannot take that amount (necessitated by the existing fiscal deficit) of bond issuance and we don’t have formats like open market operations. So the financing of the budget might sort of force the government to take certain decisions that perhaps are not necessarily the best for the economy. I would rather that they went in for a very gradual withdrawal of stimulus, and get the RBI to help in financing. I think this is a strategy that a lot of central banks are still committed to. Like in the US, where they had initially said that they would withdraw the monetization programme, they have kept the options open. Bank of England is doing the same thing. I don’t think we should fall into the trap of decoupling our policies from the G7 world and rebonding with a sort of emerged market strategy. Gud Luck to Finance Minister...
Posted By: Uma MageshWaran Chennai   |  Feb 26, 2010 05:53 AM
>VAT should be increase to gain more Tax Revenues, >Continuing Stimulus for Sectors like Textiles, exports etc, >Keen on Double Digit Inflation by Increasing key rates to control Money Supply, >The 5.5 per cent fiscal deficit will essentially be through disinvestment, >More & more Funds to Agricultural and Irrigation sectors, >No more income Tax changes, I>ncrease in Corporate Tax in Profitable Sectors to curb revenue Deficit,
Posted By: mehul surat   |  Feb 25, 2010 02:30 PM
budget must be people friendly the main focus should be on taxes as inflation is at life time high there must be some releif to common man and taxes should not be burden to the pocket of citizens. Long term capital gains should be abolished there must be some hope to the investors as they have seem some of the worst times in their lives.
Skip Navigation Links.