New taxes may be introduced in the ensuing Budget by the central government
Posted on: 28/Jan/2017 5:20:30 PM
The Central government general budget is set to be presented on 1st February. For the first time, the Railway budget will also be presented along with the General Budget.
A decision has been taken to improve the economic reforms and the budget will be accordingly presented.
Demonetization in November, Indian Economy has been rather sluggish. So, it is expected that no major concessions may be given to the investors.
However, the central government is constrained to provide more revenues for the new projects. So, it is largely expected that there may be a whole lot of new taxes to be imposed in the next budget.
It is planned to give top priority to the Railway Projects in the budget. Especially, more funds are to be allotted for the Railway Safety projects.
So, it is expected that Railway Safety Tax may be increased. The officials have been exploring the possibility of allotting 20 percent more funds for the railway projects in this proposed budget.
The revenue for the above proposals can be earned only through new taxes and the central government is planning accordingly.
So, it is expected that the investors may have to bear new hardships with the budget proposed on 1st February.
