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Union Minister for Finance will present his budget paper or money bill in parliament tomorrow. After the Suresh Prabhu reform aimed railway budget and positive support through the Economic Survey of 2014-2015, Jaitley likely to focus on the reformative budget with satisfying the common man with altering the tax slabs in favour of middle class families and may plan for better schemes to reach the masses.

However, we must understand the Modi’s strategic and strict nature towards empowering the business class through their ordinance routes, coal and telecom auction methods, and modified land acquisition bill. Arun Jaitley’s budget paper should be able to satisfy both the sections business class and common man class, in short it should be a wholistic document covering all the aspirations of the voters who lifted the BJP to come in power.

According to the last year’s budget taxation upto 2.5 lac income is nil, it is likely to be increased to 3.0 lac and the middle class people are expecting this should be increased upto 3.5 lac for avoiding burden, while 10% tax for the income group between 3.0-5.0 may be announced for general category of citizens below 60 years old.

The government is spending higher amount on subsidies for fertilizers and textile industry after the petroleum products, this may be re-designed to save the treasury. As usual the budget will expect maximum from disinvestment and FDI in various loss incurring sectors.

The flagship programmes of Narendra Modi, PM Jan Dhan Yojana, Swachch Bharat, Make In India will have highest share in the budget allocations. The crucial sectors like defence, education, internal security and women safety are likely to be given top priority.

However, we must expect pro-people and pro-market budget for meeting the international standards.

-Kannamsai