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Big expectations from NDA budget

Kashmir Times. Dated: 1/27/2015 10:38:12 PM

Dear Editor,
With the babble over the union budget in corporate India, the media and various other interest groups getting shriller by the day, the North Block, headquarters of the finance ministry, is “No Go” from January 5 to journalists scouring for bits and pieces on the likely features of the annual financial statement of the government. The ‘ban’ is until after the presentation of the budget.
It will be the second full fledged budget of the Narendra Modi government, seen to be in an aggressive pro-reform mode. It has already promulgated a clutch of ordinances to give temporary effect to a few pieces of legislation like the insurance bill and the fresh coal blocks allocation bill blocked in the Rajya Sabha by the majority opposition.
The major challenge facing the central and state governments is to increase the growth rate which would boost both economic activities and revenue collections. According to finance minister Arun Jaitley, growth rate is expected to be in the range of 6 to 6.5 per cent during 2015-16. Industry leaders and trade bodies have given Jaitley a rather longish wish list and in the main asked him to provide a friendly, supportive tax environment and facilities for better trade and higher exports. Will he be able to meet the challenge.
—Mahesh Sharma,
Chandigarh.