Budget Session on the Go

As the budget session is on the go, the industrialists, marketing people and the common man have got the excitement to know the upcoming budget. For a common man, the arrival of the new budget definitely brings a ray of hope, right from the children’s education plan to the future investment plans. Now that the budget session is going on, the countdown is on and people are anxiously waiting if the NDA will be able to deliver as per their expectations.

India’s financial year is from 1st April to 31st march, the budget is usually announced on the last day of February. It is literally a comprehensive statement of the revenue and expenditure for the coming financial year. With the onset of February, the parliament is all set to bring out Union Budget. While, the entire government is expecting that Arun Jaitley will bring a rapid growth in the economy through his budget 2016 announcements.

Before the provision of the budget come into execution on April 1, the budget is approved by both the houses of the parliament.

However, it is really going to be a hard time for Modi government to come out with a fruitful budget. Since, JNU student arrest on sedition charges following the violence, the suicide case of Rohit Vemula (Dalit student) and the jat arakshan are mainly the issues that have shaken the situation as a whole. In addition to it, the political stress, crucial legislation could become the major reason behind the suffering economy.

Since, it is reported that Arun jaitley has plans to come up with something specific for women in his budget which will empower them financially. Increasing the tax slab for single mothers, Tax exemptions for day care expenses, Deductions for expenses on self-defense training, Tax exemptions for domestic help and Separate deductions for expenses made on certain specified diseases related to women are mainly five things that will be considered in the upcoming budget as reported by the news sources. However, these allowances and the facilities if included in the final budget can really prove to be helpful in raising the standard of the working women and empowering them.

In fact, there are a few days left to have the final announcement of the budget passed for the upcoming financial year, there is a load of pending documents to be paid attention to and decide accordingly. The reports say that it may lead to a loss and improper management of the budget within such short period. However, it is something serious to manage the things and come out with an effective budget for the next financial year.