SME Times News Bureau | 24 Jun, 2014
The first general budget of Prime Minister Narendra Modi's government is likely to be presented July 10, sources said Monday.
Finance Minister Arun Jaitley is likely to present the union budget July 10, three days after the budget session of parliament begins.
According to the sources, the budget session of parliament will begin July 7.
The rail budget will be presented July 8 followed by the release of the Economic Survey on July 9.
Approval for the vote-on-account sought by the previous government ends July 31. The full budget must be cleared by parliament before the expiry of this period.
Recently in the pre-budget consultation meeting with the Ministry of Finance, industry bodies have stressed on the new Finance Minister Arun Jaitley the need for a conducive tax regulatory environment.
The industry lobby FICCI has suggested that changes can be examined in laws, to aggressively widen tax base, simplify laws and rationalise exemptions.
CII has strongly urged for early implementation of GST as a surefire means of lifting investor sentiment and putting the Indian economy back on track.
Elaborating
further on the proposals to facilitate growth and investor confidence,
CII stressed on meeting the fiscal deficit target and mentioned that a
road map for adhering to the fiscal deficit target should be drawn up
and announced in the Budget.
