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Feb 12, 2011

Common Expectations from Union Budget 2011-12

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The Union Budget 2011-12 will be tabled in the Parliament by the Union Finance Minister in this month and people of the entire country having some expectations. The people have been expecting major changes in the budget, but every budget every year has been disappointing in many ways.

This time the union budget 2011-12 will be full of the drama and action, and more or less of entertainment also be there for the people in the house.

The opposition may again put their hands to stall the budget proceedings demanding the JPC probe into the ever biggest scam - 2G Spectrum scam.

The Finance Minister had recently called the all the party meet over the issue, but still there may be changes of standstill in the house during the budget presentation.

Here are some of the expectation for the forthcoming union budget 2011-12.

Please Check the Inflation: The inflation has been haunting the people, the market is big, good are there but the value for those goods become too few or low. People would be happy if the government come up with an proper solution to check the inflation without disturbing the demand and supply forces in the market. However, inflation will not be in the realm of the budget allocations or business, but the government may give its agenda to tackle it.

Relief for Farmers: Farmers of the country, once there a slogan 'Jai Kishan' may be expecting much more from the government in this union budget. The farmers suicide in some states showing the real face of the developed India in rural part and measurable life of debt ridden farmers. The government may go for further relief for farmers of agricultural loans.

Income Tax : The slabs are perfect this time and the Union Budget may bring some changes in the current slabs and structure. The expectations would be to give some major relief to senior citizens and to bring some other form of income into tax net. Also to increase the amount of first slab to maximum and comfortable, so that limited income people need face the tax hassles, which may lead to redundant investments in policies and other projects.

Not fuel, the fuel price is burning : The people those have been watching the changes in the prices day by day, and its upward movement certainly disturbing their household budget and their life. With the hike in the fuel prices and no roll back, might be the tough time for the people facing the double dose of inflation and fuel price. They don't want to get into the deregulation or not, but simple can say "no further fuel price please".

Black Money: And finally, if the budget is all about the money of the people and way to spend it, then why not bring back the black money and start spending on developments works? It's very hard may be get even a mention about the black money in the finance minister's budget speed. But if the finance minister mentions the people of the country would be happy to see how the government is stick to work on this issue.

Last but not least, the budget will be interesting to watch and read, but it pinches while paying more tax. So, let see what gifts are there for the people of India, in this Union Budget 2011-12.


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