Union budget should converge all corporate taxes to 15% with no extensions and incentives
The Union Budget of India for 2020–2021 will be presented by Smt. Nirmala Sitharaman, Finance Minister Govt of India on February 1 and will be the second budget of Narendra Modi led NDA government's second term. Expressing the views on pre-budget expectation Mrs. Alka Kapur, renowned educationist and Principal Modern Public-School Shalimar Bagh said, “Fiscal deficit is likely to exceed its target of 3.3% of GDP due to shortfall in revenue collection. It is not the time for belt tightening or fiscal consolidation in view of the economic slowdown which will worsen if govt decides to reduce spending. Govt should look at raising money aggressively from PSU divestment, asset sale and resolution of pending tax litigation.