Budget 2009- No pain, Only Gain…Says Saturn
The union budget is an important financial document for the next one year. The Union budget of India lays down guidelines and pronouncements on different types of taxes, financial allocations for various heads, and developmental plans for different sectors. Every year before the budget is presented; there are expectations from people all over the country. The Congress party-led government is expected to give an overview of the economy and highlight its economic achievements, at the time of budget 2009-10 announcement on 16th Feb., 2009. As per financial astrology, the year 2009 is represented by the figure ‘2’ and the Moon is the key planet for Figure 2. The budget planets will be: Venus in Meen rashi while Mars, Jupiter and Rahu will be in Makar rashi. A unique combination of the Sun and Saturn will be seen in transit; the Sun will be in Kumbh rashi (Saturn 's rashi) and Saturn will be in Singh rashi (Sun's rashi). This means, there is an exchange of rashis by the Sun and Saturn. This unique exchange without conjunctions of any other planets is, indeed, very rare; and is happening for first time in history of India. This may lead to an upward movement in the Indian stock market. According to financial astrology, the following may be expected:
1. The main focus is expected to be the Youth and middle income group. Major relief is expected to be provided by relaxations in income tax rebate. Income tax exemptions may increase till Rs. One lakh eighty thousand to 2 lakh; women tax payers may be allowed tax free income by 1.8 to 2 lakhs. Senior citizens may also be given suitable relief by tax free income around 2.5 lakh, yearly.
2. Reductions in direct taxes
3. Major announcements for educations and higher technical educations for new higher educations institutes in various places of the country.
4. Upgradation of hospitals and opening new super specialty hospitals in different parts of the country. The government may announce to open a big number of primary health centres, especially in the remote areas.
5. Announcements for aid to women and adult education in rural area.
6. Special announcements for farmers in terms of agricultural insurance.
7. Special announcement for housing sectors for further relaxations in housing loans and house owners if they rent out.
8. Announcement is expected for electronic and print media sectors, fresh foreign investment limit and other relaxation may be announced.
9. Power sectors may be one of the most benefited sectors for providing assistance in setting up power plants and other power related industries to fulfil the aim of providing 100% electricity to all villages and industries.
10. Alternative energy power sectors such as wind or water power etc., will also be benefited.
11. Oil and Gas sectors are also likely to get some relaxations.
12. Promotional steps to health insurance will be undertaken.
13. There will be a hike in educations budget.
14. Special announcements for the defense personnel will be made.
15. Special announcements for minority, SC and ST students will be made.
17. Minimum wages target may increase
18. There will be a total loan waiver for the marginal farmers possessing small piece of land. There will be a special rebate in buying agricultural equipment and tools.
19. Special credit and loan facility will be provided to small farmers in buying agricultural equipment.
20. Agricultural loans to be provided by scheduled commercial banks, regional rural under confessional interest rates to small farmers having land upto 2 hectares.
1. Inflations rates may come down below 3% within 2-3 months and within 8 months it may come down to 1.5%, too.
2. GDP growth may be between 7 - 8% in year 2009-10
3. Within 2 -3 years time period, shortage of power may not be seen in India.
4. India can save big foreign currieries in crude oil within next 2-3 years time frame.
5. Indian industrial growth will also improve.
6. There will be big political debate on the budget.
7. Prices of food and vegetables may come down.
8. Relaxation in Income tax may not enough with the view of 6th pay commission revised pay scale.
9. Big industries may not be satisfied with banking policies
10. Higher income group persons may not be benefited.
11. Housing loan rates may come down.
12. Stock and commodity future traders may welcome the budget.
In short, benefits are expected for farmers, the youth, middle-class tax payers. Sectors to the most benefited are Power, Real Estate, Infrastructure, Oil and Gas, Higher education, Aviation, Tourism, Heath, Fertilisers, Textiles, Mining, Banking and Insurance. No major increase in direct tax is expected in this dream budget. I forsee a more targeted approach to assist the lower-income group and senior citizens; and, for the middle-income group, a reduction in public transport costs, taxes and utility bills to ease their financial burden.