Official Budget 2015 Thread

[heisenberg]

And after the implementation of GST.It would touch 10% mark in coming years.

I don't think gdp is a good way for growth measurement for India since change in base year. We should focus more on industrial output and employment data. No. of kms of road we build, MWs of electricity we produce, exports per months should be our focus.

 

[MokshaVimukthi]

Ok, to be fair to him, he's cut corporate tax by 5% but abolished all exemptions. That means the corporates have to pay more. Rahul Bajaj mentioned on TV the other day that abolishing exemptions would mean his companies would be losing Rs 30 crores per annum in spite of reduction of taxes!

I have nothing against reduction in taxes. I am all for it.

 

[heisenberg]

A question guys. When will India get rid of subsidies and who will be the man doing it. I know i am asking for predictions for India after 50 years from now

 

[magudi]

Land laws are already reformed right through ordinance and i believe this will turn into law also. Are you sure mate labor reforms can turnaround indian manufacturing. Rajasthan did bring such reforms but no substantial work in manufacruring sector there.

Madhya pradesh has also followed rajasthan and reformed labour laws. Labour laws alone won't be enough a conductive environment needs to be set up and the budget seems to be an incremental step in right direction

A question guys. When will India get rid of subsidies and who will be the man doing it. I know i am asking for predictions for India after 50 years from now

Getting rid of subsidies in one go will be disastrous. What we need is a balancing act for now. Also as the economic survey recently pointed out a major chunk of these go to undeserving people so rationalizing subsidies is what we need.

As for when it'll be abolished - i don't think ever because such a bold step would take a truly economically right government. Thought nda is the closest we've got to economically right govt (don't know about aap) even they won't risk radical measures.