Union Budget 2019 is all set to be announced by interim finance minister Mr. Piyush Goyal on 1 February 2019. The Union Budget is being announced a day after the Budget session of Parliament starts off on 31 January. This interim budget will be the last budget for the current government and is being announced just months before the 2019 Lok Sabha elections.
Although it is an interim budget, which is different from the General Budget, the IT industry and several startups have a lot of expectations from it, considering it is final budget for the current BJP led NDA government. Here are expectations compiled from notable companies:
Simplify Tax Structure – Arun Nathani, CEO, Cybage
“Budget 2019 is an Interim Budget and the last roll of the dice for the current government before the General Elections. Hence, populist measures are expected. Currently from an industry perspective, there is a double taxation on dividend. The companies have to pay corporate tax and tax on the dividend declared. Dividend received by shareholders is also taxable in the hands of an individual. So simplification of the tax structure will help the industry as well as encourage businesses. This will boost the economic growth further.”