Budget Publication 2018

Budget 2018
www.sethspro.com
The key takeaways
SETH & ASSOCIATES
CHARTERED ACCOUNTANTS

Budget at a glance
‘‘You merge yourselves in the void and disappear, and let new India arise in your place.
Let her arise – out of the peasants’ cottage, grasping the plough; out of the huts of the
fisherman. Let her spring from the grocer’s shop, from beside the oven of the fritter
seller. Let her emanate from the factory, from marts, and from markets. Let her emerge
from groves and forests, from hills and mountains’’.
-Swami Vivekananda
SETH & ASSOCIATES

Insight
Economic Survey Indirect Taxes Social Welfare
schemes
Direct Tax Corporate Law
SETH & ASSOCIATES

Seth
Economic Indicators
Annual percentage growth rate of GDP at market prices based on constant local currency. GDP is the sum of gross value added by all resident
producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without
making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.
2011 2012 2013 20182014 2015 2016 2017
7.75%
8.01%
6.72%
India: Real gross domestic product (GDP) growth rate from 2012 to 2018
FISCAL DEFICIT
3.50%
3.20%
FOREX RESERVES
409.40 Bn $
370.00 Bn $
INFLATION
4.50%
3.30%
7.75%
7.10%
7.51%
6.39%
5.60%
INDUSTRIAL GROWTH
4.60%
3.20%
SETH & ASSOCIATES

7.75%
4.4%
INDIAN ECONOMY
INDUSTRY
AGRICULTURE
SERVICES
2.1%
8.3%
ECONOMIC GROWTH

Key Takeaways – Economic Survey ‘18
On the implementation of the Goods and Service Tax (GST), the survey said that there has
been a 50% increase in number of indirect taxpayers
The level of tax filers by November 2017 was 31% greater. The economic survey said
that it translated roughly into about 1.8 million additional taxpayers due to
demonetization-cum-GST, representing 3% of existing taxpayers.
In the first three quarters of 2017-18, oil prices have been about 16 percent greater in
dollar terms than in the previous year (Table 1). It is estimated that a $10 per barrel
increase in the price of oil reduces growth by 0.2-0.3 percentage points, increases WPI
inflation by about 1.7 percentage points and worsens the CAD by about $9-10 billion
dollars
The Survey observes that the economy has witnessed a gradual transition from a period
of high and variable inflation to more stable prices in the last four years.
Current account deficit expected to average 1.5-2% of the GDP this fiscal, while export
growth is pegged at 12.1%. The survey said that India will need $4.5 trillion investment
in infrastructure by 2040.
The Agriculture growth in FY18 likely to be at 2.1%, while the Industry growth for FY18
likely to be 4.4%. Services growth for FY18 likely to be at 8.3% and the country’s
economy should witness improvement in next fiscal year.
SETH & ASSOCIATES

SWOT Analysis – Indian Economy
W O
S T
Strength
• Stable currency
• Controlled Inflation
• Strong foreign currency
inflow
• Robust services sector
growth
• Monsoon dependent
• Tax Collection slowdown
• Industrial slowdown
• 16% jump in crude oil
prices in recent months
Weakness Opportunity Threat
• Expectations of a stable oil
• Slowdown in competing
nations such as China and
Brazil
• Age dynamics in favor
• Misadventure of government
policies
• Inadequate infra spending
• Revival of Chinese economy
• Populist government schemes
SETH & ASSOCIATES

Direct Tax proposals
SETH & ASSOCIATES

Long Term Capital Gain
LTCG on transfer of equity share or unit of equity oriented fund or unit of business trust, made on or after
1st April 2018 on which STT (both on acquisition and transfer of an equity share in a company; on transfer
in case of unit of an equity oriented fund or a business trust) has been paid will not be exempt u/s 10(38).
Shall be taxed @ 10% if exceeds Rs.1 Lac.
Cost of acquisition of such long term capital asset acquired before 1st February 2018 shall be higher of :
- Actual cost of acquisition;
- Lower of- fair market value of such asset and full value of consideration received as a result of transfer of
such capital asset.
Any transfer of capital asset being
- Bond or GDR u/s 115AC or
- Rupee denominated bond of an Indian co. or
- Derivative
made by a non-resident on a recognized stock exchange in any International Financial Services Centre &;
consideration is payable or paid in foreign currency will not be regarded as transfer of capital assets u/s
47.
SETH & ASSOCIATES

As per Section-49, in case capital gain arises from transfer of capital asset (being inventory converted into capital asset), cost of
acquisition will be fair market value of such asset.
Investment in any bond,
- issued on or after 1 st April 2007 but before 1 st April 2018 (redeemable after 3 years)
- issued on or after 1 st April 2018 (redeemable after 5 years)
will be eligible for claiming exemption under Section 54EC. Sec 54EC can now be claimed in respect of gain arising from sale of land
or building or both. Thus any other long term gain cannot avail exemption under Sec 54EC.
As per the amended Sec 50C, where the difference between stamp duty value and the consideration received or accruing as a result
of transfer does not exceed 5%, the consideration received or accruing shall be taken as the sale consideration.
INCOME CHARGEABLE UNDER HEAD SALARY
An amount of Rs. 40,000 or the amount of salary, whichever is less will be allowed as standard deduction u/s 16 and thus no
exemption would be available in respect of transport allowance and reimbursement of medical expenses.
It is proposed to extend the benefit of exemption for withdrawal up to 40% from National Pension System Trust to all subscribers
and not only to employees.
SETH & ASSOCIATES

INCOME CHARGEABLE UNDER HEAD PROFIT & GAINS FROM BUSINESS & PROFESSION
Any compensation or other payment received by any person on termination or modification in terms & conditions of any
contract relating to business will be chargeable under this head.
Conversion of stock-in-trade to capital asset to be treated as business income at the FMV on the date of conversion.
Marked to Market Loss or other expected loss computed as per Income Computation & Disclosure Standards u/s 145(2) will be
allowed as deduction u/s 36.
Any gain or loss arising on account of any change in foreign exchange rates in respect of all foreign currency transactions shall be
treated as income or loss under newly inserted Section 43AA & shall be computed as per Income Computation & Disclosure
Standards u/s 145(2).
If stamp duty value of any land or building or both does not exceed 105% of consideration received on transfer of such asset
(other than capital asset), then, such consideration shall be deemed to be the full value of consideration u/s 43CA.
As per sec 43CB, profits & gains arising from construction contract or contract for providing services shall be determined on the
basis of percentage of completion method as per Income Computation & Disclosure Standards notified in Sec 145(2). Contract
revenue would include retention money and contract costs shall not be reduced by interest, dividends or capital gains.
Presumptive income u/s 44AE from:-
➢ Heavy goods vehicle (owned by assessee) shall be Rs.1000 per ton of gross vehicle weight or unladen weight p.m or part of
the month or amount actually earned whichever is higher
➢ Other than heavy goods vehicle (owned by assessee) shall be Rs 7500 p.m or part of the month or amount actually earned
whichever is higher.
In respect of trading in agricultural commodity derivatives, commodity transaction tax shall not apply as per sec 43.
SETH & ASSOCIATES

INCOME FROM OTHER SOURCES
CARRY FORWARD & SET-OFF OF LOSSES
Where a person receives any immovable
property for a consideration which is less
than stamp duty value by an amount
exceeding Rs. 50,000 or 5% of consideration
(whichever is higher), stamp duty value as
exceeds such consideration shall be taxable
as income from other sources u/s 56.
Any compensation received by any person
in connection with termination of his
employment or modification of terms &
conditions will be taxable u/ 56.
Even in cases where there is a change in the shareholding of a company due to resolution plan
approved under Insolvency & Bankruptcy Code 2016, losses can be carried forward.

DEDUCTIONS UNDER CHAPTER VI-A
1. Section-80D- Deduction of mediclaim for senior citizens increased from Rs.30,000/- to Rs.50,000/-.
2. Section 80DDB- Deduction in respect of medical treatment etc. have been increased from Rs 60,000/- to Rs 1,00,000/-.
3. Sec 80TTB has been introduced where senior citizens would be allowed a deduction of Rs.50000/- in respect of interest income
earned from deposits.
4. Newly inserted Sec 80PA proposes to provide 100% deduction to a producer company having turnover not exceeding one
hundred crore and includes profits derived from
• the marketing of agricultural produce grown by its members, or
• the purchase of agricultural implements, seeds, livestock or other articles intended for agriculture for the purpose of
supplying them to its members, or
• the processing of the agricultural produce of its members.
The benefit shall be available from the financial year 2018-19.
5. In order to promote start-ups it is proposed to amend section 80- IAC, to make following changes:—
• The benefit would also be available to start ups incorporated on or after April 1, 2019 but before the April 1, 2021;
• The requirement of the turnover not exceeding Rs.25 Crore would apply to seven previous years commencing from the
date of incorporation;
• The definition of eligible business has been expanded to provide that the benefit would be available if it is engaged in
innovation, development or improvement of products or processes or services, or a scalable business model with a high
potential of employment generation or wealth creation.
• The amendment will take effect from April 1, 2018 and will, accordingly, apply in relation to the assessment year 2018-19
and subsequent assessment years.
6. The benefit of Sec 80JJAA in respect of emoluments paid to eligible new employees has been extended to leather and footwear
industry. Additional deduction of 30% of employee cost would be available where an employee is employed for minimum 150
days. In cases where a new employee is employed for less than the minimum period during the first year but continues to
remain employed for the minimum period in subsequent year, the deduction would be available. This amendment will take
effect, from April 1, 2019.
SETH & ASSOCIATES

Other Direct Tax proposals
• The limit for tax deduction for interest
on securities u/s 194A has been
increased from Rs.10,000/- to
Rs.50,000/- for senior citizens
(persons who are of the age of 60 or
above at any time during the previous
year).
• In those cases, where return of income
is filed after the due date specified u/s
139(1), the deduction under Chapter
VIA-C pertaining to sections 80HH to
Sec 80TT would not be available.
• As per Sec 143, at the time of
processing of return of income filed, no
adjustment shall be made on account
of addition of income appearing in
Form 26AS or Form 16A or Form 16
which has not been included in
computing the total income.
• To reduce manual interface, the
assessment proceedings are proposed
to be conducted electronically.
• Application to the Assessing Officer
for allotment of PAN has to be made
by a person who is not an individual,
which enters into a financial
transaction of an amount aggregating
to Rs2.5Lacs or more in a financial
year. Any person acting on behalf of
the above person/entities shall also
apply for PAN.
• The corporate tax rate has been
reduced from 30% to 25% in case of
companies with a turnover upto
Rs.250Lacs in the FY 2016-17.
• It is proposed to provide that
prosecution shall lie against
companies for non-filing of return
irrespective of the fact whether any
tax is payable or not.
• It is proposed to charge dividend
distribution tax on deemed dividend
u/s 2(22)(e) at the rate of 30%.
SETH & ASSOCIATES

Other Direct Tax proposals
• At present, there is no restriction on
organizations engaged in religious or
charitable activities relating to cash
expenditure incurred or compliance
of provisions of tax deducted at
source. In order to ensure that the
expenses claimed are genuine, it is
proposed to insert a new explanation
to Sec 11 to provide that for the
purposes of determining the
application of income under the
provisions of sub-section (1) of the
said section, the provisions of sub-
clause (i a) of clause (a) of section
40, and of sub-sections (3) and (3A)
of section 40A, shall, mutatis
mutandis, apply as they apply in
computing the income chargeable
under the head “Profits and Gains of
Business or Profession”.
It is also proposed to insert a similar
proviso in clause (23C) of section 10 so as
to provide similar restriction on the
entities exempt under sub clauses (iv),
(v), (vi) or (via) of said clause in respect
of application of income. Consequently
expenses incurred in cash or without
deduction of tax would not be eligible as
application of income. Amendment to
come into effect from AY 2019-20
onwards.
SETH & ASSOCIATES

Indirect Tax
Amendments
SETH & ASSOCIATES

Recent Amendments in GST
Sl.
No.
Description of Service Existing Rate New Rate
1. Sale of Old & Used Motor vehicles across all the category of vehicles 28% 18%
2. In case of manufacturers who have opted for composition scheme w.e.f. 01st January 2018 2% 1%
3. Composite supply of works contract relating to construction of civil structure or any other original
works for EWS/LIG/MIG schemes under Housing for All (Urban) Mission/ Pradhan Mantri Awas
Yojana (Urban).
18% 12%
4. Services by way of housekeeping, such as plumbing, carpentering, etc. where the person supplying
such service through electronic commerce operator is not liable for registration
18% 5%
5. Job work involved in manufacturing of leather goods or footwear 18% 5%
6. Tailoring Services 18% 5%
7. Admission to amusement parks including theme parks, water parks, joy rides, merry-go rounds, go-
carting and ballet
28% 18%
8. Composite supply of works contract provided by sub-contractor to main contractor who is providing
services to government by way of construction of historical monuments, canal, dam, pipeline, civil
structure to be used for education, commerce or industry
18% 12%
9. Composite supply of works contract provided by sub-contractor to main contractor who is providing
services of earth work to government
18% 5%
Reduction in rates of services w.e.f. 25th January 2018
SETH & ASSOCIATES

New Exemptions w.e.f. 25th January 2018
SETH & ASSOCIATES
• Providing information under RTI Act, 2005 from GST.
• Legal services provided to Government, Local Authority, Governmental Authority and Government
Entity.
• Transportation of goods from India to a place outside India by air or sea until 30th September 2018:
• Life Insurance to personnel of Coast Guard (under the Group Insurance Scheme of the Central
Government) by the Naval Insurance Group Fund, retrospectively w.e.f. 1.7.2017
• Dollar-denominated services provided by financial intermediaries located in IFSC SEZ, which have been
deemed to be outside India under the various regulations by RBI, IRDAI, SEBI or any financial regulatory
authority, to a person outside India
• Pure services provided to Government entity by a Panchayat/ Municipality. Composite supply involving
predominantly supply of services (i.e. up to 25% of the supply of goods) is also exempted.
• Lease of land:
✓ By government or local authority to governmental authority or government entity
✓ Supply as a part of specified composite supply of construction of flats, etc
• Admission to, or conduct of examination provided to all educational institutions including any service of
conducting entrance examinations on collection of entrance fees
• Reinsurance services in respect of following insurance schemes :
✓ General insurance business provided under schemes such as Pradhan Mantri Suraksha Bima Yojna
and others listed in Notification 12/2017-CGST Rate
✓ Life insurance business provided under schemes such as Pradhan Mantri Jan Dhan Yojana and
others listed in Notification 12/2017-CGST Rate

SETH & ASSOCIATES
• Services by way of fumigation in a warehouse of agricultural produce
• Services of admission to planetarium where consideration charged is below Rs.500
• Subscription of online educational journals/periodicals by educational institutions who provide degree
recognized by any law
• Renting of transport vehicles to a person providing services of transportation to an educational
institution (students, faculty, and staff) providing education up to higher secondary or equivalent.
• Services provided by and to Fédération Internationale de Football Association (FIFA) and its subsidiaries
directly or indirectly related to any of the events under FIFA U-20 World Cup in case the said event is
hosted by India.
Changes in Exemption limits in the following cases:
• The exemption limit of Rs 5,000 per month per member in respect of services provided by Resident
Welfare Association (unincorporated or nonprofit entity) to its members against their individual
contribution is enhanced to Rs 7500/-.
• The exemption limit of the amount of cover of Rs. 50,000 enhanced to Rs. 2 lakhs in respect of services of
life insurance business provided under life microinsurance product approved by IRDAI
• The exemption limit of Rs.250 for services with respect to all the theatrical performances like Music,
Dance, Drama, Orchestra, Folk or Classical Arts and all other such activities in any Indian language in
theatre increased 500 per person
New Exemptions w.e.f. 25th January 2018

Amendments in Law
• In case of composition dealer other than manufacturer and restaurant service provider, turnover will
not include exempt supplies and tax will be calculated only on Taxable supplies with effect from
01.01.2018.
• At present in case of Joint Development Agreements taxability arises on the very first day of the
contract between developer and Land Owner but now it will be taxable when the developer will
transfer the possession or right in the constructed property to the person who owns the land.
• Works Contract Services by Sub-contractor to the Main contractor under the following scenario:
Where the main contractor provides WCS to Central Government, State Government, Union territory,
a local authority, a Governmental Authority or a Government Entity at the rate of 12%
Note: Similarly, GST Rate for Sub-contract services to the main contractor shall attract 5%
where the Main contractor is providing services to Central Government, State Government,
Union territory, a local authority, a Governmental Authority or a Government Entity at the rate
of 5%.
SETH & ASSOCIATES

RECENT AMENDMENTS
in
COMPANIES ACT, 2013
SETH & ASSOCIATES

Key Company Act amendments
✓This is the
second round of
amendments
made to the
Companies Act,
2013, with the
First one being
made in 2015.
✓Benefit of
Corporate Tax
Rate of 25% has
been extended to
companies, if the
total Turnover or
Gross Receipts of
the Previous Year
2016-17 does
not exceed 250
Crores.
• For Incorporation, declaration will be required instead of Affidavits.
• Name Reservation: New Company shall be valid for 20 Days from date of Approval.
• Sweat Equity Shares can be issued at any time currently it can be issued after 1 Year from the
Commencement of Business.
• Annual General Meeting of UNLISTED Company can be held Anywhere in India.
• Wholly Owned Subsidiary (WOS) of a company incorporated outside of India is now allowed to hold EGM
outside India.
• Any Company shall have Registered Office within 30 days of Incorporation.
• In addition to Directors and KMP, any employee of the Company can also authenticate company documents
as authorized.
• No approval of Central Government is required for payment of remuneration in excess of 11% of Net Profit.
• Requirement to file DIR-11(Filing of a copy of resignation to ROC by Director itself)made optional.
• Requirement of Annual Ratification of Auditor appointment by the members is omitted.
• Disclosure provided in the Financial Statement shall not be reproduced in the Board’s Report.
• Disclosure by Promoter and top ten shareholders with respect to 2% change in Shareholding in a LISTED
Company is omitted now.
• In case of delay in filling documents to be submitted under section 92(Annual Return) or Section 137(Copy
of Financial Statements), after expiry of prescribed period, a flat Additional Fee of ` 100per day shall be paid.
• A company cannot extend any loan exceeding sixty percent of its paid-up share capital, free reserves and
securities premium account or one hundred percent of its free reserves and securities premium account,
whichever is more. The amendment seeks to remove employees from this restriction.
• The companies are permitted to give loans to entities in which directors are interested after passing special
resolution and adhering to disclosure requirements.
• Incorporation of a Company with ZERO fee, with usage of no form and DSC.
• RUN for Name Availability of a proposed company.
• DIN is also not mandatory prior to filing of SPICE E-Form
SETH & ASSOCIATES

Section 164(2) of Companies Act, 2013
The Directors of the Companies for which Annual Filing of Returns has not been done for more than 3 Financial Years
were disqualified by MCA under section 164(2) of the Companies Act, 2013 and consequently the DIN of such directors
were also abstained from filing any form.
Subsequently, such Directors were unable to file any form in any other company too, where they were Directors.
Condonation of delay scheme, 2018 (Form e-cods)
In order to give a chance to such Directors a Delay Scheme for Condonation was introduced by MCA, effective from 1st
January, 2018 to 31st March, 2018. During this period such DIN(s) were activated for such period as mentioned above
and Forms only related to Annual Filing and Auditor Appointment could be filed through such DIN(s). Under this
Scheme all the pending returns of the companies need to be mandatorily filed on or before 31st March 2018 to avoid
any severe prosecution.
✓ For the Companies mentioned in the list released by MCA for such disqualification, apart from filing the Annual
Returns and other related forms, along with the prescribed late fees, has to file the Condonation Form( E-cods)
with a fees of ` 30,000.
✓ For other Companies, only the Annual Returns and other related forms, along with the prescribed late fees has to be
filed.
SETH & ASSOCIATES

SOCIAL WELFARE
SCHEMES
SETH & ASSOCIATES

Social Welfare proposals
➢ Agri-Market Infrastructure Fund with a corpus of `2000 crore will be set up for developing and upgrading
agricultural marketing infrastructure in the 22000 Grameen Agricultural Markets (GrAMs) and 585 APMCs.
➢ Government will provide Rs. 1400 crore for establishment of specialized agro-processing financial institutions to
boost investment in food processing.
➢ Government will support organized cultivation and associated industry. By allocating a sum of ` 200 crore for this
purpose.
➢ Government proposes to launch an ‘‘Operation Greens’’ on the lines of ‘‘Operation Flood’’. ‘‘Operation Greens’’ shall
promote Farmer Producers Organizations (FPOs), agri-logistics, processing facilities and professional management.
A sum of ` 500 crore will be allocated for this purpose.
➢ Government will set up state-of the-art testing facilities in all the forty-two Mega Food Parks.
➢ Government will launch a Re-Structured National Bamboo Mission with an outlay of ` 290 crore to promote bamboo
sector in a holistic manner.
➢ Government is implementing a comprehensive social security and protection programme to reach every household
of old, widows, orphaned children, divyaang and deprived as per the Socio-Economic Caste Census. Allocation on
National Social Assistance Programme this year has been kept at ` 9975 crore.
➢ Government to launch a major initiative named ‘‘Revitalizing Infrastructure and Systems in Education (RISE) by
2022’’ with a total investment of ` 1,00,000 crore in next four years. Higher Education Financing Agency (HEFA)
would be suitably structured for funding this initiative.
➢ Government would launch the ‘‘Prime Minister’s Research Fellows (PMRF)’’ Scheme this year. Under this, 1,000 best
B.Tech students would be identified each year from premier institutions and facilities will be provided to them to do
Ph.D in IITs and IISc, with a handsome fellowship so that they voluntarily commit to teach few hours in higher
educational institutions.
SETH & ASSOCIATES

Social Welfare proposals
➢ ‘‘Ayushman Bharat’’ programme will be aimed at making path breaking interventions to address health
holistically, in primary, secondary and tertiary care system covering both prevention and health
promotion.
➢ The National Health Policy, 2017 has envisioned Health and Wellness Centers as the foundation of
India’s health system, `1200 crore will be allocated for this flagship programme.
➢ Government will launch a flagship National Health Protection Scheme to cover over 10 crore poor and
vulnerable families (approximately 50 crore beneficiaries) providing coverage upto 5 lakh rupees per
family per year for secondary and tertiary care hospitalization.
➢ Government has decided to allocate additional ` 600 crore to provide nutritional support to all TB
patients at the rate of ` 500 per month for the duration of their treatment.
➢ To further enhance accessibility of quality medical education and health care, government will be
setting up 24 new Government Medical Colleges and Hospitals by upgrading existing district hospitals
in the country.
➢ Government will launch a Scheme called Galvanizing Organic Bio-Agro Resources Dhan (GOBAR-
DHAN) for management and conversion of cattle dung and solid waste in farms to compost, fertilizer,
bio-gas and bio-CNG.
➢ The Government had approved a comprehensive textile sector package of `7148 crore to boost the
apparel and made-up segments.
➢ The AMRUT programme focuses on providing water supply to all households in 500 cities. State level
plans of `77,640 crore for 500 cities have been approved. Water supply contracts for 494 projects
worth ` 19,428 crore and sewerage work contract for 272 projects costing `12,429 crore has been
awarded.
SETH & ASSOCIATES

01
03
06
04
0205
“The Budget reaffirms strategic direction to
reinvigorate economy with a thrust to core areas like
agriculture, health sector and relief to Senior Citizens.
This Budget is a boost to MSME and choosing to spur
the economy while pursuing modest fiscal condition.
Hope the budget meets its intentions.”
- CS Anupam Srivastava
“This budget is farmer centric and this
will help agriculture industry to grow
that will eventually help rural
economy of the country. Also, a cut of
5% in corporate tax for small industry
will benefit MSME in the Indian
Economy.
- Sarim Saleheen Lari (MBA)
Our View “This budget is aimed more towards agriculture &
health sector which can emerge as one of the key
drivers of economic growth. This budget also focuses
on strengthening the tourism and hospitality
industry through setting up various airports and
increasing the rail network. However, investor
markets would be hurt with this budget as LTCG has
been brought back after 14 years.”
- CA Shashank Mittal
“The Budget for the FY 2018-19 is primarily
focused on MSME. While it is still hesitant to
partake in the crypto-currency mania, plans for
implementing the underlying blockchain
technology on a national scale are in the works.
Even introducing Universal Basic Income, is being
considered. Lastly, the corporate industry is a bit
disappointed as there are no sweeping changes to
ease business activities.”
- CS Mallika Tayal
“Union Budget 2018-2019 has not been able to meet
the expectations of all sectors. For the corporates with
turnover upto Rs 250 crores, budget has brought good
news with tax being reduced from 30% to 25%. On the
contrary, nothing much has been proposed in personal
taxation which was a disappointment. Overall, a more
balanced & fiscally prudent budget was presented
ensuing elections next year& the need to mobilize
resources for the government.”
- CA Apoorva Rastogi
“This budget is aimed at providing
help and support to rural
population as the Govt has
announced various welfare
schemes. It is to be seen how
effectively the said schemes are
implemented. Although no
benefits for younger generation
yet the benefits granted to
companies and senior citizens is a
welcome move.”
-CA Charu Malik

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