The Budget 2018 is set to be presented by Union Finance Minister Arun Jaitley. It would be one of the toughest budgets for the Union Government and the last full one before the next Lok Sabha elections.
The Budget would be a choice between populism and fiscal prudence.
The Budget, in view of upcoming assembly polls in eight states - including three major states ruled by the BJP - and general elections next year, may see new rural schemes and stepping up of funding towards existing programmes like MNREGA, rural housing, irrigation projects and crop insurance.
R Vaidyanathan, Professor of Finance at the Indian Institute of Management (Bangalore) gives OneIndia his wish list and what he expects from the Budget-2018.
Here is Professor Vaidyanathan's wish list:
- I would like the Mudra Act to be announced.
- I would like the personal Income Tax to come down
- The GST limit must be increased from Rs 20 lakh to Rs 10 crore
- Money stashed away abroad should be brought down
- I would like to see the scrapping of at least 10 to 12 ministries in the Union Government. With GST being introduced and several benefits being shifted to the state, many ministries should be abolished.