Finance Ministry invites suggestions for Union Budget 2017-18

You can submit your suggestions either directly in the comments box or attach a PDF document,” the government said.

By: ENS Economic Bureau | New Delhi | Published:November 30, 2016 2:23 am
Arun Jaitley, suggestions for Budget, MyGov, Jan Bhagidari, Finance Ministry, Budget 2017-18, business news, budget news Union Finance Minister Arun Jaitley. (PTI Photo)

The finance ministry has invited suggestions from public for Union Budget 2017-18, which will be presented on February 1 next year. People can submit their suggestions by December 15. “Citizen from all walks of life are welcome to be a part of the budget making process. You can submit your suggestions either directly in the comments box or attach a PDF document,” the government said.

The government said suggestions are being invited to promote transparency and to encourage Jan Bhagidari. “Last year we had an overwhelming response with over 40,000 suggestions for Union/Railway budget. Several of the suggestions received on myGov were incorporated in the last year’s budget,” it said.

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Citing suggestions in the current Budget, myGov portal said, these included announcement about Direct Benefit Transfers on fertilisers, creation of separate irrigation fund, Price Stabilisation Fund for pulses and introduction of special agricultural cess.

“We seek your valuable ideas to continue the tradition of the Union Budget incorporating the citizens’ aspirations,” it said.

The Budget for next year will be distinct for three reasons: One, the budget announcement date has been advanced by two months to ensure that the government is able to allocate resources to ministries and departments before the start of the next fiscal. Second, the distinction between Plan and Non-plan expenditure is being dropped.

Third, with the likely passage of GST related bills in the ongoing Winter Session, the finance ministry will be factoring in revenue collections based on the Goods and Service Tax rates that the government will announce for the next year. The Centre plans to roll out GST from April 1, 2017.

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  1. I
    Inder Narain Kakar
    Jun 6, 2017 at 8:38 am
    The Honourable, The Fianace Minister of India Shri Arun Jaitly, Government of India. Sir, Proposed GST Rate on Mediclaim Insurance Premiums With due respect, I refer to an apparent contradiction in the proposed GST tax rates. On the one hand, health services will be tax free, on the other all insurance premiums including that on Mediclaim policies will be taxed at 18 , higher than even the current rate. I am a 72 year old retiree, providing for his own medical expenses for my 64 year old wife, a 33 year old severely disabled son who is dependent on me for the rest of his life, and my own self, through a Mediclaim policy held with a nationalised insurance company. It appears unfair to me that while the medical for public at large is being provided free of any tax, a person in my position should have to pay such a high rate of tax on the premium while he is already paying for such medical care. Many thanks. Inder Narain Kakar, 135, Sector 8, Panchkula - 134109 Mob. 9815972899
    Reply
  2. A
    Appi Reddy
    Jan 18, 2017 at 10:03 am
    Under sec 234E of Incometax Act a fee of rs 200 per day lmited to the TDS amount is mandatorily charged foror late or non filing of TDS returns. This is too harsh and there is no provision either for appeal or waiver. There will also be cases where delay is for reasonable cause. It is requested that the fee is reduced to rs 100 or rs 50 per day and also a provision made in the Act for appeal and waiver
    Reply
  3. D
    Dr. Bajrang
    Jan 4, 2017 at 12:15 pm
    Dear FM,lt;br/gt;Some humble suggestions:lt;br/gt;1. Raise exempt income limit to Rs.5 Lacs for all.lt;br/gt;2. Raise exempt income limit to Rs. 7.5 Lacs and 10 Lacs for Senior and Super Senior Citizens respectively.lt;br/gt;3. Create All Tax Slabs above exemption limit.lt;br/gt;4. Restructure tax slabs as 5%, 10%, 20% and 30%. lt;br/gt;5. Remove all complications like cess, surcharge etc.lt;br/gt;6. Exempt all pension income incomes.lt;br/gt;7. Exempt people above 80 from filing ITR unless they have any business income or capital gains above 10 lacs.lt;br/gt;8. Only the income from investments in any form above inflation rate should be considered to be an income. For Example 1: If inflation rate is 6%, Interest @4% earned from Bank SB Account should be fully exempt irrespective of the amount earned. Example 2: If inflation rate is 6%, FD interest only above 6% should be included in the gross income.
    Reply
  4. D
    Deepak Khapekar
    Jan 29, 2017 at 3:25 pm
    Sub. - Suggestion for the expedition of Solar and Wind Energies Projects in Domestic and Industrial field.lt;br/gt;Dear Sir,lt;br/gt;It is the responsibility of the people to use the green energy / non-conventional energy which are available naturally and which doesn’t affect the environment. Central Govt and State Govt. both are giving subsidies on installation of Solar Rooftops / Wind Generators but even though people are not taking any interest for such installations. It is requested to give some benefits in Income Tax in sort of deductions from Gross ry for only Financial Year of Installations like National Pension System. Rs. 30000/- gross deduction can be given in the form of subsidy for 1 kW Solar Power Rooftop / Wind Energy along with the existing Central Govt and State Govt. subsidies. Most of the middle cl people come in the 30 % Tax Slabs. So it will be lucrative for them to invest in Solar / Wind Power installations. Otherwise, common people will not move towards non-conventional / Renewable energy resources.lt;br/gt;Thankslt;br/gt;Regards
    Reply
  5. D
    Deepak Khapekar
    Jan 29, 2017 at 3:25 pm
    Sub. - Suggestion for the expedition of Solar and Wind Energies Projects in Domestic and Industrial field.lt;br/gt;Dear Sir,lt;br/gt;It is the responsibility of the people to use the green energy / non-conventional energy which are available naturally and which doesn’t affect the environment. Central Govt and State Govt. both are giving subsidies on installation of Solar Rooftops / Wind Generators but even though people are not taking any interest for such installations. It is requested to give some benefits in Income Tax in sort of deductions from Gross ry for only Financial Year of Installations like National Pension System. Rs. 30000/- gross deduction can be given in the form of subsidy for 1 kW Solar Power Rooftop / Wind Energy along with the existing Central Govt and State Govt. subsidies. Most of the middle cl people come in the 30 % Tax Slabs. So it will be lucrative for them to invest in Solar / Wind Power installations. Otherwise, common people will not move towards non-conventional / Renewable energy resources.lt;br/gt;Thankslt;br/gt;Regards
    Reply
  6. G
    Gautam chatterjee
    Jan 31, 2017 at 12:34 pm
    Dear FMlt;br/gt;Income tax slab rate upto 4 lakhs Nil tax 4- 10 lakh 10%, 10-20 lakhs 20and 20-30 lakhs 30% and above 30 lakhs 45 %. Home loan interest rate should be reduce. and 80 c deduction should be from 1.5 to upto 2lakhs. conveyance subsidy would be minimum 12 thousand. For all profession and businessman are forced to keep swipe machine in their shop or nursing home for consulting fees.Most of the doctors are not giving any receipt for their consulting charges and they are making huge black money, Pathology lab also making black money like this.Any type of shopkeeper from grocery to sweets to snacks and hotel ,restaurant all are making black money like this. Please force them to keep compulsory swipe machine. This is my humble request. Thanks and regards Gautam Chatterjee
    Reply
  7. M
    M.Murali Mohan
    Jan 9, 2017 at 11:07 am
    1. Amending NPS to enable beneficiaries to have an option to avail pensionary and other ociated benefits as they attain 55 years of age.lt;br/gt;2.Senior citizens , upto 75 years of age be extended the cashless insurance facility at nominal premium . lt;br/gt;3.Senior citizens with 75 years and above be extended the facility of free treatment by all corporate hospitals without exception as their social responsibility.lt;br/gt;3.Tax payers with the responsibility of maintaining senior citizens with more than 75 years of age be extended special I.T.deductions.
    Reply
  8. S
    Sujit
    Jan 25, 2017 at 12:16 pm
    Dear FM,lt;br/gt;lt;br/gt;In India approximately 2-3% of total potion pays income tax sincerely as they are mostly ried employees and the employer cuts the tax at the source. There are many in the remaining 97% who earn money which is taxable but do not pay tax. Due to digital push and demonitization, more people will come under scanner and start paying tax. Also government should change the income tax slabs drastically to encourage more people to pay taxes and also give significant relief to existing honest, sincere ried cl. We pay income tax and again many taxes on the remaining money whenever we spend it. please reduce these as well.lt;br/gt;lt;br/gt;Sujit
    Reply
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