The Union Budget 2015 to be presented on February 28, 2015. The people of India from all walks of life have major expectations from the Government. The Tax-payers needs simpler and minimum direct tax laws and should give:
The following major issues also need to be addressed not only for large taxpayers but also more importantly for the common man:
The governance needs to be people centric and should ensure maximum governance with minimum government. A time bound delivery and leveraging technology for e-governance can bring suitable solutions. The government may consider following specific suggestions:
Expectations from Budget
There are many other important areas where complex provisions need to be withdrawn and simpler basis for taxation needs to be adopted.
It is important to see that no new taxes are proposed in the budget since we already have tax implication in every business transaction. Suggestions should be to manage and to cut expenditures. It should be ensured that the revenue, generated by the government by existing means, is deployed on productive revenues and creates assets for giving long term benefits with increased production & employment. All kinds of so called incentives/subsidies given away as populist measures need to be pruned. Let the direction aim at labour by the workforce instead of sitting & getting government grants.
We hope the Government will consider the above proposal for the budget for better growth.