Budget 2016: Steady Arun Jaitley keeps economic meter ticking

In the face of threatening global financial squalls, the Budget provides credibility, a steady course for steering the economy, and welcome improvements in tax administration. The market initially plunged during FM Arun Jaitley's speech but recovered when he stuck to his fiscal consolidation schedule, outlined ways to end retrospective taxation (and settle big outstanding cases), avoided anticipated changes in service tax and capital gains tax, and outlined ways to greatly reduce tax disputes.  Himanshu Tiwari Astrologer Blog

The big risk ahead is not domestic: it is that foreign investors will pull billions out of India in the current emerging markets panic. They will be reassured by Jaitley's measures on ending "tax terrorism" and sticking to the planned reduction of fiscal deficit to 3.5% of GDP despite huge pressure to postpone targets to finance his 15.3% increase in public investment. This fiscal prudence opens the way for interest rate cuts by the Reserve Bank of India, maybe within a few days.  Commodity Market Astrology Tips
The third Budget of a government is often its last chance for radical reform. This Budget has no radicalism. It reflects the Economic Survey's plea for "persistent, creative, encompassing incrementalism". Fiscal space has not been created for giveaways in the past two Budgets of the NDA government, a political risk. Rahul Gandhi will not be able to call this a suited-booted Budget. The ultra-rich will pay an additional income taxsurcharge of 3%. An additional tax of 10% will be levied on dividends over Rs 10 lakh. All cars will be hit with an infra cess ranging up to 4% for luxury cars. Jewellery will bear higher tax. The securities transaction tax on options has been tripled.  Share Market Astrology

Jaitley will use these funds to ensure electricity to every rural household, a pukka road to every village, and cooking gas cylinders to 5 crore poor households in the next two years. A new cess of 0.5% will be levied on all services to fund agricultural schemes. Loans to small and medium enterprises under the MUDRA (Micro Units Development and Refinance Agency) scheme will expand from 1 crore to 1.8 crore borrowers next year. A record Rs 38,500 crore will be spent on MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act) programmes. Government spending will emphasise agriculture, rural infrastructure and health.   Financial Astrology

Jaitley's proposed Aadhaar Bill will eliminate court objections to using the ID for a major shift from leaky, corrupt and wasteful subsidy schemes to cash transfers into the bank accounts of the needy. A pilot project is planned for cash transfers in lieu of the fertiliser subsidy. Another proposed Bill will help resolve disputes in infrastructure publicprivate partnerships, provide guidelines for PPP renegotiation and create a credit rating system that reduces lending risks.     Stock Market Trading Tips