Govt focus on clean economy, bold decisions:

 FM The Modi government's emphasis is on bold decision making and a clean economy with business friendly environment, the returns of which can be spent on the poor, Finance Minister Arun Jaitley said today. |  The Modi government's emphasis is on bold decision making and a clean economy with business friendly environment the returns of which can be spent on the poor, Finance Minister Arun Jaitley said today. He also said the fundamental problem during the UPA rule was that its Prime Minister (Manmohan Singh) was not a natural leader of the ruling party or the government that committed mistakes in its approach to policy as well as in intention. "But now we have someone who is willing to take courageous decisions in the form of Narendra Modi," he added. "Our overall emphasis has been on faster decision, bolder decisions, cleaner economy, freedom from black money, freedom from corruption and a friendly environment for doing business, so that the larger returns that come to the economy in terms of taxes can be spent on the poor of this country," 

Budget 2017: Do you know these changes in income tax return filing process? 

Changes ensure that income tax reporting happens earlier than what it used to be. Balwant Jain (more) Company Secretary, Bombay Oxygen | Capital Expertise: Tax ,Property Balwant Jain This government is focussing on early reporting of the income by the tax payers for facilitating the decision making.  And with this aim in mind has been proposing changes in the income tax law with respect to various aspects of filing of the income tax return. In good old days one was allowed to file income tax returns for previous two years.  The previous year’s budget has reduced this to one year. So beginning from 1st April 2017 you will be able to file your income tax return for one  year. For the previous year ended 31st March, 2017 you should be filing your income tax return by  31st March 2018. This year’s budget has proposed various changes keeping this aim of early reporting of income by the tax payers in mind. Let us discuss the provisions which are applicable to the Individual tax payers

Budget 2017: Spend on education sector seen falling short

 Experts feel the Budget spend on education is woefully inadequate for a country which is aspiring to create a pool of skilled workforce to fuel economic growth. 2017-18 was billed as ‘no-nonsense’ by many, but its impact on the education sector is not yet clear. The government has allocated roughly Rs 80,000 crore for the sector, about 10 percent higher than last year. While the number may seem huge, one has to view it in proportion to the total expenditure. Compared to peers, India spends the least on education. Experts feel this is woefully inadequate for a country which is aspiring to create a pool of skilled workforce to fuel economic growth. The budget for Sarva Shiksha Abhiyan (SSA) was increased by Rs 1000 crore, and that for Rashtriya Madhayamik Shiksha Abhiyan (RMSA), teacher training and adult education has been increased by Rs 305 crore compared to the revised Budget estimate for FY17. The mid-day meals scheme, which continues to face problems and much criticism since inception, will get only Rs 300 crore more. 

IT spends of governments will grow in 2017:

 Gartner Even though the research firm did not attribute any specific reasons for its estimates in the press statement, it can be noted that this comes amid a greater thrust on technology through campaigns like 'Digital India'. |  IT spends of governments will grow in 2017: Gartner Global research firm Gartner today said the information technology spends of Centre and state governments will increase 9.5 percent to USD 7.8 billion in 2017. Even though the research firm did not attribute any specific reasons for its estimates in the press statement, it can be noted that this comes amid a greater thrust on technology through campaigns like 'Digital India.