Union Budget 2016: Expectations, Highlights and Instructions to Download Finance Minister’s Speech
Everything you should know about Union Budget before its announcement
As 29th of this month is approaching, the curiosity of people regarding Union Budget is increasing. Everyone who’ll be directly or indirectly affected by the budget is eagerly waiting for the speech that Finance Minister Mr. Arun Jaitely will give while presenting this year’s budget. And believe me, it’s a huge set of audience not only from Indian but around the globe, thanks to PM’s efforts for increasing outside investment in the country. We’ll bring you the whole action of that day from A to Z along with FM’s speech in pdf format. Both Hindi and English versions of speech will be available for downloading.
Who’s Expecting the Most from Budget
The sectors that’re most concerned regarding this year’s budget include a mixture of fundamental sectors and future opportunities both. Sectors like agriculture, financial markets and infrastructure are some examples of sectors that’re affected by almost every budget, so they’ll obviously keep an eye on the upcoming budget. However, this year some new sectors are also awaiting the budget eagerly. For example:
- Global financial institutions and giant corporations that’re interested in being part of campaigns like “Make in India” are awaiting the budget to assess their investment decisions;
- Tourism industry is also expecting to receive a much needed reboot from the budget;
- Technology companies and startups who’re likely to benefit from programs like “Digital India” and “Startup India” are also awaiting the budget eagerly;
- Indian Railways is also waiting for the budget to find out what has been allotted to it;
- And last, but certainly not least, 47 lakh employees and 52 lakh pensioners of Central Government are waiting for it because details about 7th CPC will also be revealed with the budget.
Aside from these sectors people concerned with country’s security and tax proposals are also curious about it. Therefore, this year a significantly lot more people are interested in the budget than ever before.
Who’s Expecting What?
Finance Minister had announced earlier that this year’s budget will provide Rs. 110,000 crore for the development of nation. Aside from that he had also promised many reforms to people from different sectors. As a result, different groups of people are expecting different set of reforms from FM. For example:
|Financial companies||Cheaper cashless transactions|
|Small entrepreneurs||Special rebate in taxes|
|IT sector||Relief in double tax|
|Healthcare sector||2% of GDP and a new health insurance scheme with cover of Rs. 100,000 for monthly premium of only Rs. 500|
|Common men||Exemption from income tax on annual income up to Rs. 442,000 per year|
One budget, many expectations – some of which may also be at odds with each other. How our FM will deal with them remains to be seen.
The Procedure for Downloading Budget Highlights
Once budget is announced, Finance Ministry will make its highlights available on its website. The documents will also include speech given by FM, and will be available for downloading in Hindi and English both. You can download them by following the procedure outlined below:
- First of all you’ll have to open the website of Finance Ministry;
- Then you’ll have to click the link saying “Budget Speech by Honorable Finance Minister”;
- Once you click that link you’ll be provided the options of downloading the speech in PDF and DOC formats;
- You can download the speech in format of your choice, and once downloaded you can view it with the help of appropriate software program.
After presenting a balanced budget last year in July now this budget is even more important for Modi government. At a time when several important bills like GST are stuck, things like this become determining forces for public and investor opinion. Therefore, it’ll be interesting to see how it’s planned. Anyways, not much time is remaining and we’ll come to know about it soon.