- Feb. 15, 2016
-- This was a carry forward of previous day’s session on pre-budget emphasising upon the issues of relevance to the economy with reference to the general budgets.
The major points on which the forum (students of BBA, B.Com, MBA) stressed was “how revenue can be generated by the govt. without increasing the taxes.”
Some of the issues of concern with reference to revenue generation as discussed by forum were: Inflation control to be the top priority; Personal tax exemption limit to be increased to boost demand; The fiscal deficits should be less than 3% of our GDP; Approximate 10, 00,000 lakhs projects are still non-operating, should be made operational;
GST should be passed in parliament; There should be more focus on - Urbanisation, Information sector regarding agriculture, Developed infrastructure, Introducing new agriculture schemes to boost agriculture related activities and milking poultry projects and Irrigation facility should be boosted.
It was therefore concluded that for the Govt. it was of grave importance to not pressurise the growth pillars of the country who are a part of the financially weaker section of the society like taxes for the common man on necessities, ROI on education loans, loans related with SSI and for agriculture;
Instead let the stronger section of the society like industrialists, rich farmers, taxes on luxuries etc. bear the brunt so that the revenue collection by the govt. does not suffer inturn harming Public Administration Services.
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