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Budget expectations
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Bikky Khosla | 23 Feb, 2016
The much-awaited Budget session of Parliament has kicked off today. Every Budget is an opportunity to set out a clear path for the economy, but this time it seems more important than never before. India, with its high single-digit growth rates, has been touted as one of the few 'bright spots' in an otherwise gloomy global economy. That said, its challenges are still far from being over. Slow reforms, low rural demand, declining exports, less-than-expected corporate earnings, lack of private sector investment, real estate and banking sector woes -- the Budget must be able to respond to all these challenges.
First of all, I think all eyes will be on how the parliamentarians handle this session. As of date, several key bills -- including Bankruptcy Code, Factories Amendment and Land Acquisition bills -- are yet to be taken up for debate in the lower house. Several other bills -- including GST, Real Estate and Industries Amendment bills -- are also pending before the opposition-controlled upper house. These are economic reform-enabling legislation, and if obstructionist politics again gets in the way of passing them, we are bound to lose out on opportunities to capitalize on the fortuitous circumstances created by the global slowdown.
There is a wide-ranging agreement that three key sectors require special attention in the Budget: infrastructure, banking and real estate. The Centre, which has fast paced its investment in the infrastructure segment in the current fiscal, should keep up the pace the next fiscal, in the background of weak corporate sector investment. Similarly, I expect the Budget to provide direction on addressing the lingering problem of NPAs in the banking sector. An analysis shows that cumulative gross NPAs of 24 listed public sector banks stood at Rs 3,93,035 crore as on December 31, 2015. These figures speak for themselves. Third, the realty sector -- which contributes nearly 6 percent to the GDP -- has been facing a prolonged slowdown for quite some time now. Urgent steps are required to revive the sector.
As far as the MSME sector is concerned, I think time has come to act on creating an efficient mechanism for credit delivery. There are several schemes, including the recently launched MUDRA scheme, to help MSME players get timely and adequate credit, but unfortunately most of them still exist on paper only. So, I expect the Budget to come up with at least some clear measures to address this problem, which I think has remained the biggest challenge facing the sector for decades. In addition, concrete measures should also be introduced to push forward all the recently launched programmes related to the sector, including Start-up India and Kaushal Vikas Yojana.
What do you want from the Budget? I invite your opinions.
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Regarding imports payment to china
SK agarwal | Sat Feb 27 17:01:08 2016
Some time bank do not know how to make payment for imports from China they required CB 15 form attested by CA
Bank do not know Form CB 15 Is required by if the payment done for consultancy , or salary, or commission, or any profit to foreigner for regarding imports who would get pan card no one give one used concessions who teach bank how to solve they do not want to learn
SERVICE INDUSTRY !
ramesh | Sat Feb 27 05:24:19 2016
More focus and implementation of uniform tax in service industry would help SME Sectors growth. Implementation of transparent system of service tax audit would help the small business enterprises to work towards enhancing their business potential
Quality certifications on rural home industry products
Ari Sri Sri Satakopa Ramanuja Jeeyar | Sat Feb 27 02:44:16 2016
Food & other items produced in rural areas must be certified by the govt agencies by moving their testing lab to the work spot to overcome the difficulties in getting processed for quality production which helps the consumer awareness also.
Budget for 2016-2017
sri sri sri satakopa ramanuja jeeyar | Sat Feb 27 02:37:56 2016
it is essential to look into agricultural sector to remove poverty & laziness in BPL families. tiny gardens, vegetable,medicinal plants growing must be encouraged and make it more attractive.
Education field up to 10 2 is not at all satisfactory in rural areas.They are almost not being given education,& is running on push & pass system must be removed. Home industries in rural areas must be strengthed at any cost.Home need products must be produced in cottage/home industries. make them more attractive.
budget, opinion
lalahari | Fri Feb 26 12:16:42 2016
A level playing field for new entrepreneurs and all without any prejudices
Budget expectations
A V Chandran | Fri Feb 26 05:11:59 2016
Could I start my response with the following quoting: "An analysis shows that cumulative gross NPAs of 24 listed public sector banks stood at
Rs 3,93,035 crore as on December 31, 2015."
NPAs falls under unsecured culture hence it could probably be written off from time to time involving macro figure and macro loss to the Nation. However the behavior of NPAs must be examined for the purpose of anticipated portion of revenue in order to decrease the level of NPAs by less than 33%. There must be a preventive care for NPAs wherein NPAs must be treated as secured beyond 100%. In short all banking plus minus culture must be secured in order to have no room for NPAs.
Import Export stands discouraged with reference to low volume of Exports whereas import of crude alone has major role with reference to internal macro revenue generation in view of decreasing return maintained in the costing of Crude oil and increasing return maintained its outputs. The crude oil costing and its outputs costing must add plus points with reference to macro revenue.
Budget Revenue and Non Budget Revenue could be maintained a tolerance of plus 7% in comparison to Budget and Non Budget Expenditure in order to safeguard the Budget with sound performance at the end of the budget closing whereas resource mobilization is not at all positive in view of disturbed political atmosphere of self developed that too not matching our constitutional norms. For instance oath office not in place as it deviated.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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84.35
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82.60 |
UK Pound
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106.35
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102.90 |
Euro
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92.50
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89.35 |
| Japanese
Yen |
55.05 |
53.40 |
| As on 12 Oct, 2024 |
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