I personally expect the upcoming Union Budget to be very positive and favourable towards the poor, middle class and business community, particularly because these segments were most inconvenienced by Demonetisation. In a bid to alleviate this pain, we can expect incentives on direct tax. This could mean lower personal income tax rates and lower corporate tax rates too.
With Cashless economy taking center stage, the Government has already taken a number of steps to encourage electronic payments. We could see Finance Minister, Arun Jaitley announcing a list of measures as incentives for digital payments which will benefit the e-commerce industry as a whole. We might also get clarity on the long standing topic of introducing GST.
Prime Minister Narendra Modi's flagship project, Startup India might get a push in the upcoming Budget. We could see a new set of tax concessions on employee stock options, unlisted securities and convertible instruments. Lastly, as a woman and an entrepreneur, I would be most excited to see increased allocation towards building infrastructure in India and increased planned public expenditure. This would go a long way in creating a safer & more conducive environment for women and furthermore in creating world class companies. Overall, as a taxpayer and a founder I am eagerly waiting for February 1.
The author, Swati Bhargava is Co-founder, CashKaro.com.