World predicting India’s chance to fly: FM
Finance Minister Arun Jaitley is presenting the much-anticipated Union Budget 2015-16, as expectations ride high, especially in areas of reduction in tax liability, taming inflation and improving other basic services.
Prime Minister Narendra Modi has emphasized on industrial development and proposed the ‘Make in India’ initiative since he took charge.
The budget is supposed to give a big boost to the initiative that will ultimately generate more employment opportunities for the middle class.
The government’s expenditure in education sector has not been up to expectations in the past few years.
The sector hopes that this will change and expects the government to make education accessible and affordable so that even people living in rural areas can have access to good schools.
World Health Organization’s 2000 World Health Report ranked India’s healthcare system at 112 out of 190 countries.
The ever rising costs of medical treatment further necessitates the key role a good health insurance scheme can play in providing adequate protection to people.
Industry expects government to create a genuine non-adversarial and conducive tax environment and explore alternative non-tax revenues.
India inc has also pitched for labour reforms and incentives for sectors including manufacturing, infrastructure and real estate in the forthcoming budget.
A sector on which about 60 percent of the population is dependent is agriculture. The farming community is hoping that the Modi government will do justice to their governance mantra, ‘Sabka Saath, Sabka Vikas’ by giving some special attention to the farm sector that often becomes a victim of flood, drought and poor infrastructure.
The social sector will also figure in a big way in the Budget with the focus on ‘Swacch Bharat’, ‘Jan Dhan Yojana’ and ‘Beti Bachao’ programmes of the government.