Tuesday, 28 March 2023



LATEST NEWS Bhagwant Mann gives gift of development projects worth around Rs 100 crore to Jalandhar residents Government stands with Farmers firmly in these difficult times : CM Bhagwant Mann Bridge Gap Between Industry Requirements & Skilled Manpower : Aman Arora Kuldeep Singh Dhaliwal hands over appointment letters to three clerks Agriculture And Farmers' Welfare Minister Kuldeep Singh Dhaliwal Inspects Crop Damage In Ghanour And Rajpura Constituency EPFO organises “Nidhi Aapke Nikat” to resolve Provident Fund related issues of employees in Bandipora DRAC approves 9 rent assessment cases at Bandipora DC Bandipora Dr Owais Ahmad calls for strict action against illegal mining DC Shopian Sachin Kumar Vaishya Chairs DLIMC meeting, reviews "Computerization of PACS" Lt Governor Manoj Sinha chairs review meeting of the Department of Industries & Commerce Congress not letting Parliament function : Piyush Goyal IPL 2023 : KL Rahul, Quinton de Kock are the biggest strengths of Lucknow Super Giants : Aaron Finch DDC Rajouri Vikas Kundal leads Greh Parvesh ceremonies under PMAY-G, AWAAS Plus scheme 9th NCORD meeting held to combat drug abuse Revitalisation of Youth Clubs : Sports activities, counselling sessions mark Day 1 of ‘Festival of Youth’ in Kathua Punjab government committed to the welfare of ex-servicemen : Chetan Singh Jouramajra Anand Sharma calls on Chief Minister MoU signed for Green Hydrogen and Green Ammonia Project Haryana will play an important role in promoting Ayurveda in the country - Manohar Lal Khattar Dr. Anshu Kataria graces All India Sangeet Sammelan as Guest of Honour National Seminar on “Mapping the Social and Environmental Concerns for Sustainable Economic Development” inaugurated


Budget to be tough exercise post-note ban: Assocham

5 Dariya News

New Delhi , 29 Jan 2017

Notwithstanding the high expectations of cuts in corporate and income tax rates in Wednesday's first Union Budget post-demonetisation, Finance Minister Arun Jaitley will have his task cut out owing to the stress the small scale and rural sectors have felt, as well as the possible impact of implementing GST, industry chamber Assocham said on Sunday."Meeting the excessive expectations riding on the forthcoming Union Budget, being seen as a ‘Solve-All' big mover in the aftermath of demonetisation, could be a challenging task for Finance Minister Arun Jaitley who has to reckon in the fallout of the Goods and Services Tax (GST), stress in the small industry and trade as also the rural landscape," Assocham said in a pre-budget release here."The biggest challenge before the government is to revive the urban consumer demand and provide a huge stimulus to the rural economy which had to bear the maximum impact of the note-ban. Inflation may be down, but it has to be seen in the context of glut in many crops, especially vegetables, resulting from excess output and cash withdrawal in November," it said.
Noting that with near consensus reached on rolling out GST from July, the industry chambers said "the outcome in terms of tax collection may be uncertain even as the Centre remains committed to fill the shortfall of the states." "There are bound to be teething troubles, though in the long run, lot more benefits would accrue to the economy."According to Assocham, "the corporates are seeking reduction in the corporate tax rate to 25 per cent.""The individual tax payers are expecting a big rise in the exemption limit and not a token amount of Rs 10,000-20,000," it said. "The way expectations are soaring high, especially in the stock market, the Finance Minister may find it tough to come up to them, under conflicting demands," it added. Noting that "industrial production and services remain subdued", the Associated Chambers of Commerce and Industry of India said that "the banks reeling under their non-performing assets and the scanner of the investigative agencies, would remain cautious in lending, however much they are flush with liquidity" post-demonetisation.


Tags: Assocham



related news




Photo Gallery



Video Gallery



5 Dariya News RNI Code: PUNMUL/2011/49000
© 2011-2023 | 5 Dariya News | All Rights Reserved
Powered by: CDS PVT LTD