Demand For New Government Maiden Budget And Improve Governance And Fiscal Consolidation

The Indian economy following the 1991 crisis swiftly moved away from central planning economy towards market-based economy with the government having less intervention and control. As a result, companies were operating in what is called emerging

In 1960, West Bengal has been amongst the 3 richest states of India. Being a British capital of those times it has a strong manufacturing tradition. During the colonial period, West Bengal was one of the leading states having the highest contribution to nation’s industrial output and employment and continued this trend till the 1960’s.Post 1960, the state started losing its prominence and witnessed reduced productivity and labour militancy on a grand scale. This trend continued till the late 90’s, but the turning point came after 2000 where there has been a resurgence in the state’s industrial sector. Economic reforms and competition among states have led to renewed interest of Business groups in investing in West Bengal. This revival is evident from the upward trend

The federal budget of Canada is constantly evolving to accommodate the ever changing issues of society. Building a budget for an individual can be tricky, but when building a budget for an entire country it can be detrimental to some citizens. Making cuts in one area can make huge impacts whether positively or negatively to a group of people. I think increasing government spending in the child care program would help almost all citizens of the country in one way or another. Increasing the child tax benefit will assist families to move out of poverty and allow for children to grow up in

This has helped wipe out the unemployment challenge in the economy, the increased investment activities are boosting the economic growth and development which are critical factors for consideration in encouraging the negatively geared tax regime.

The secret of a rich man remains what he does in his quiet time and how he draws his conclusion on issues. In a planning process, information gathering and interpretation should be taken seriously. Just like in a building project, if you missed the foundation you miss everything and failure in next door. In most case, the likely cause of failure is financially oriented resulting from poor estimates. The budget is thus here to assist one plan and make a better financial decision based on facts.

There is no fixed formula for the expression of legislative intent to give retrospectivity to a taxation enactment. Though the legislature has enormous powers to make retrospective taxing laws yet when the act is entirely arbitrary and irrational, it may be declared invalid as offending Article 14 of the Constitution. It is universally acknowledged that the most important feature of tax system is certainty. Investors base their decision on the current laws at the time of investment, although there is a scope for changes in laws , yet, they do not expect them to change retrospectively.

First of all, the Chief Executive should consider strategic citizens'. Starting from the overall needs f the citizens in the public services, and answering the question: how big should be the public budget. And going to the analyses of the effects that public sector budget will have on the economy, and what economic factors would be preconditions for the budget development. Other strategically important factors are policies and program priorities that have to be regulated by the Executive. An important factor here is to reach a balanced decision that would correspond to the principles of equity and social justice and to find a balance between

Budgeting involves decision making regarding revenue and services for both public and nonprofit organizations. Furthermore, budgeting provides the infrastructure and financial means for our public systems and services. Primarily, the goal of budgeting is to achieve a balance between revenue and expenditures. Governmental allocation and appropriation of funds are a utilized as a political device to uphold the public interest. Appropriations permit policy proposals to manifest from aspirations into accomplishments. Budgeting is the financial consideration that provides resources to the policy promoted throughout all levels of government. Thus, budgeting promotes the values of the executive branch that matriculates to the federal, state and local levels of government. Tedious is the budget process and each stage must be completed meticulously prior to the advancement of each phase so that the budget is successfully implemented.

Over the few years Maldives economy has grown very much. Various opportunities have been open to investors and small scale business, in Maldives and the income that the government get also has increase in the past years. The tax has also effects many house holds and business. With the changes of laws and regulations there are many new taxes and royalties that are taken in from the public and the business organization. In this essay I am going to highlight the effects of the new tax reform in Maldives.

The Federal revenue sources enumerated above are just some of the means through the US Government makes money. Payroll taxes are federal or state

India is a developing country and thus the step at which development occurs would clearly be more than that of the developed countries. India thus is a perfect fruitful soil for any new business to bud up and display. It should be highlighted that when recession interfered as an unwanted guest into the global economy, the Indian economy succeeded in surviving with insignificant minor injuries. India is a nation which has a bright history of wonders to showcase who excelled in the various fields of business. It is never the lack of new business ideas in India which remains as obstructing factor, but the restricted capital. A lot of unique products are there in India which remains in evergreen demand. But the

VAT was introduced at a uniform rate of 15% at the manufacturing-cum-import level. Together with protection-neutral supplementary duties, this system largely replaced the earlier structure of differentiated sales tax on import and excise duties on domestic goods. In case of personal income tax, the major reforms involved the inclusion of entertainment allowances in the personal income tax base, deduction of investment in approved assets from the tax base, and an introduction of a withholding tax on dividend with limitation of special expenditure within a reasonable limit. Steps were taken to reduce interest rates on government savings instruments and subsidies for food and jute. A good number of public sector enterprises were denationalised through sales to the private sector.

To study taxation provisions of The Income Tax Act, 1961 as amended by Finance Act, 2007.

Whereas, Venkataraman (2017) argues that GST does not affect the personal income tax revenue which is not considered for economic growth and it will take more to adjust by virtue of lacking in fast technology. It may be a barrier for government to collection of tax .However, GST is expected to increase the mobilization of resources available for development of the country. Foreign companies now have interest to investment in government securities in India which may put great effect on strong economy. Therefore, GST impose positive effect on Indian Government.

The project study has been done to critically analyze the various facets of Economic planning in India and also for the purpose of evaluation of our group for internal assessment, by the authorization of our faculty members Prof. Megha Chandok. We are indebted to her for helping us with our report