Financial Prospects in the Fiscal Year 2013-14

Many changes in the financial prospects are possible in the fiscal year 2013-14.Union budget for the last fiscal year will be tabled in the Parliament by the finance minister.

It is expected that, the government could table a populist budget in order to give some relief to the people those have been reeling under the pressure high-inflation, high fuel prices and low income-tax slabs.

Keeping the possible budgetary policy for the fiscal year, it could guess that there would be lot changes in the financial prospect in the year 2013-14. 

It is going to affect all the budges including household, industry and economy. The price of goods and services have gone up due to the impact of hike in the petrol and diesel.

Before the union budget, the people will see railway budget allocation, and chances are there there could rise in the freight charges in the railway budget as the passengers fairs have already been hiked in the last month.

Any hike in the freight would help the inflation to back into its massive form, which has been moderating, and considering moderation in the headline inflation the RBI cut the key interest rates.

It is sure that the changes in the income tax slabs going to change the financial prospect and individual preferences. The industrial bodies would be recommending the finance minster for a soft hear towards the corporate taxes in the budget 20013-14.

The health of India economy would also be big concern as the poor performance of agriculture and mining sectors cause a low growth rate of 5 per cent.

In a nutshell,  it is clear that there has been slowdown and everybody is going to affect in terms for the financial prospect in the fiscal year 2013-14.