Union Budget 2016 : People's Expectations

 Every budget is a creature of the context in which it is made. It assumes more importance because when the BJP led NDA govt. took over in May 2014, they announced a series of positive steps for the Common man,
It is that time of the year when everybody is hoping that NDA led Central Govt. will deliver the Promise of ''Achchhe din'' (Good news), as every sections of the civilisations has more expectations than never before from the budget. As am not an economist nor an authorised person to accept my views in the world of high finance but as a citizen have many expectations from govt. in upcoming union Budget 2016-17, which will be launch within few hours from now by Finance Minister Arun Jaitely.

The Previous union budgets saw the NDA led Central government in a bid to boost investment and economic growth, took some of the tough promises to maintain the economic growth rates. However, many of the promises that the govt. still have to deliver. While the Countdown for upcoming Union Budget 2016-17 has begun and govt. has lot more challenges to maintain the progress of economic growth. As am agree that govt. can't be fulfil everyone's expectations but announcement must be people friendly.

 India is on its way to evolving a superpower by 2020 and accordingly profile of the budget should be focus centric on India's economy growth. Overall, Budget must focus on people friendly and economic friendly such as; Start-ups, Skilled based Education. Digital India, Made in India, Taxation issues, Infrastructure, Agriculture, IT, Insurance, Job creations, Real Estate, and Security or Defence.

The Present Scenario is quite good and not good as to keep economy balance. The Falling crude oil prices are indeed good sign for the Indian economy but in other side the Agricultural growth having collapsed to less than 0.5% in the first two years due to La Nina climatic Phenomenon. This is something our country can't afford much longer because more than half of India's Population lives on Agriculture. We hope and pray that rains are normal this year and as well govt. will do some positive announcement in the favour of farmers who lost their crops due to natural calamities that will help to build up good relations between Govt. and farmers and that can help India to brace the emergency situation with a strong growth.

In Term of Budgetary allocation for Skill Based Education, we are among the lowest-which is really sad for developing country. The current demography of India, with its young Population one in every three graduates up to the age of 29 is unemployed according to a Labour Ministry report, it is an alarming sign because these are unable to become part of the growing middle class. Here major Focus on Skill based Education, not only Higher Education. India doesn't need any further higher institutions as yet; what it needs are the refurbishment of existing facilities that will helpful to create more Jobs among students.

The Budget Announcement must be more focus centric based in favour of Startups, Make in India and Digital India. As the Govt. is already given the final touches to its start-up policy but it can be more helpful to give start-ups an initial relaxation from taxes for one year. This will boost the confidence among investors. While the govt. has made successful "Make in India" its signature campaign, which should be highlighted more in every manufacturing industry. As well should have to focus on Digital India. recent threatening as we see with Kerala, JNU, Indian Forces as well as the Orissa govt. coming under cyber-attack. The government should allocate a specific amount in budget to work safe and confidentially.

India is standing out as a beacon of growth and stability in an otherwise troubled global outlook.  Rebate on Taxation should be allowed to encompass the entire tax payer class and not to be restricted to the salaried class only. The benefit of Tax rebel on Health care insurance and home loan. 

The budget should not fight shy of making sizable allocations for Infrastructure development such as ''RURBAN'' (Urban and Rural divide and infrastructure) project because it will help to make India's vibrant economy.

 Finally Hoping 2016-17 Union Budget will be good in terms of People friendly and Economy friendly.