Budget 2018: Timing, where to watch and other details

The price of pragmatism

Govt aim is to ease doing business in India: Jaitely

Finance Minister Arun Jaitley is said to have delivered the longest budget speech in 2014, speaking for two-and-a-half hours with a 10-minute break.

Scrapping the colonial-era tradition of presenting the Budget at the end of February, Jaitley had for the first time presented the annual accounts on February 1 previous year.

Ahead of the budget, the Finance Minister and other top officials take part in the halwa ceremony.

Budget 2018, to be presented on February 1, is set to be a tightrope walk for Finance Minister Arun Jaitley.

Additionally, International Business Times India will also run a live blog on the Union Budget 11 am onwards.

Govt is all set to address farmers problem. A few days ago Economic Survey 2018 was presented in the country.

Jaitley may resort to increasing farm sector allocations to an all-time high, with special focus on government procurement to ensure stable rise in the price of farm products.

But a recent spike in inflation, tightening cash conditions, and worries about fiscal slippage have sent the 10-year bond yield up more than 80 basis points since July, the biggest move since the 2013 rupee crisis.

JOB CREATION: Employment generation has always been top on agenda of Modi govt. It is speculated that govt may come up with a grand plan in this sector.

The printing of the Budget documents starts roughly a week before the date of the Budget presentation. Moreover, he also faces the challenge to deal with the narrative of pro-rich government.

FOCUS ON INDUSTRY: Industry is again a key focus. Prepared by Chief Economic Adviser Arvind Subramanian, it pegged India's GDP growth for the upcoming fiscal at 7 to 7.5 percent.

"The income tax department has received a lot of request on this and there has been quite a few rounds of discussions as to why one needs every individual to submit their details in a technologically advanced era when information about a taxpayer is available at the click of a mouse", a senior official said, as mentioned in a report by News18.

PUSH TO EDUCATION: Education is important for overall development of the country.

- Employed parents expect the government to announce an additional tax reduction measure, via the expense incurred on children's education.

SALARIED CLASS: EXPECTATION: Tax exemption limit can be increased.

With excise duty and service tax being subsumed in the GST, the classifications in the forthcoming budget may undergo change.

The word budget is a multilingual derivative, beginning with the Celtic word "bolg", which meant bag or sack, to the Latin "bulga" and the French "bougette", both meaning little bag.

The real estate sector is expecting to get infrastructure status to make "Housing for All by 2022" a reality. It is remained to be seen what measures the government take to infuse capital into the indebted sector.

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