ENP Newswire -
Release date- 10072014 - Budget Seeks To Put More Money In Aam Aadmi Pockets.
The Union Budget 2014-15 was going to be a tough balancing act for Finance Minister Mr.
With a plethora of announcements, be it in the form of further opening up FDI, promoting investments in Infrastructure and Health Care or proposals for poverty alleviation and rural development, the Finance Minister has taken positive steps that would not just boost overall confidence, but also go a long way in generating employment.
His focus has been on empowering the Middle Class and particularly the emerging Middle Class, besides taking care of their health. Bringing cheer to individual taxpayers,
The new government seems committed to strengthen investor confidence. The ministerEURs assurances to not introduce any changes retrospectively, besides creating a mechanism to issue clarification on grey areas are investor friendly and would help spur growth.
It is also heartening to see that the new government is finally moving ahead with the introduction of the long-pending Goods & Services Tax (GST). GST-which aims to replace a series of existing taxes such as excise duty, service tax and value added tax-will go a long way in streamlining tax administration and result in higher tax collection for center and states. The government has announced its commitment towards introducing GST. According to independent estimates, it will provide a stimulus to the economy and could push economic growth up to 2%.
The government has reduced Excise Duty on machinery used in the manufacture of fruit juices and on packaging machinery from 10% to 6%. This is a positive step.
I also welcome
I am quite happy with the government continuing the rural focus and initiating steps not just towards poverty alleviation but also skill development for the rural populace. These initiatives would help improve their standards of living and ensure continued rural demand.
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