Union Budget 2020 INDIA BLUEPRINT: Zee Business Managing Editor Anil Singhvi outlines what common man, others want
Union Budget 2020 INDIA BLUEPRINT: Relief in personal income tax, rationalizing long-term capital gains tax (LTCG), Dividend Distribution Tax (DDT) and incentives for homebuyers could be the best Budget 2020 gift, says Zee Business Managing Editor Anil Singhvi (#BudgetOnZee)
Union Budget 2020 INDIA BLUEPRINT: The expectations from Budget 2020 are high and that is not just limited to the common man as the industry and businesses have pinned high hopes on Budget 2020, which will be presented on February 1 by Finance Minister Nirmala Sitharaman. There are expectations around the government's ambitious plans to make India a $5 trillion economy in the next 4-5 years and the government could lay a roadmap towards achieving its targets in Budget 2020 (#BudgetOnZee).
Zee Business Managing Editor Anil Singhvi says that the most important thing that the government needs to focus on, is economic growth. The focus around growth will bring cheers not only to the common man but also to industries and businesses. If the government announces these 3 things in Budget 2020, the issue of growth will be addressed to a large extent, Singhvi says.
Singhvi added that if the government gives relief to the common man on the personal income tax front, it will be a big shot in the arm. This would put money into the hands of the people and kickstart the cycle of consumption which will then lead to higher demand, eventually leading to greater production by the industry.
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The exemptions in the personal income tax slab are currently up to Rs 2.5 lakhs. The government should make it up to Rs 5 lakhs, he said. It should also look at widening the ambit of Section 80C of the Income Tax Act, he further says.
The country also needs jobs and is looking at the government with a lot of hope, he says adding that the real estate sector needs a push. Favorable announcements in the sector can generate employment in a big way, he added.
The government should give some incentive towards affordable housing or could give some relief towards loan repayments that would attract potential home buyers. Even the real estate sector is looking at the Narendra Modi led government with high hopes in the Budget 2020.
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There are also speculations that the government could give investors relief on the Long Term Capital Gains Tax (LTCG) front Singhvi says. The finance minister should also reduce the Dividend Distribution Tax (DDT) in the Budget 2020 too, he adds. If the government rationalize s these things to some extent, it will be very good for the overall growth of the company, Singhvi says.
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