CA Vikram Aggarwal
Come February and comes in the mind of every tax professional and every Indian citizen the ‘great expectations’ from the Annual Union Budget. But the question is whether these expectations would see the light of the day or would submerge in the darkness of gloom (or would become an NPE……a non performing expectation!)
Should economics be completely separated from politics? Can economic decisions be disconnected from political decisions? Can there ever be a day in our country when decisions are guided solely by national interest?
Can there be a budget that heeds to not only the FDI class but also to the expectations of the small businessmen or small industries?
Can the budget and the related Income Tax and indirect taxes boost ease of doing business in India? Can the budget ensure equality of distribution of wealth?
The questions could be endless implying that there is a huge scope for improvements and amendments that could be brought about in the direct tax and indirect tax regime through the Budget.
Although, I would have liked to be a bit descriptive about my ‘great expectations’ from the budget but, I would rather keep it crisp. So my expectations would go as under:
It is believed that simplicity is the best policy. Simple and clear amendments would instill confidence and boost consumer sentiment.
Hope our expectations reach to the authorities concerned.