The Union Budget 2015 has no major tax levies but has failed to fulfil the expectations of the people in general, according to Pramod Dayal Rungta, Chairman, Eastern India Regional Council (EIRC).
“With the new government it was expected that the budget will show the road map that how, when, where the nation will be taken forward. This Budget was also the replica of earlier one’s; simply taking funds from one place and putting to another place,” Pramod Dayal Rungta, said.
The Institute of Chartered Accountants of India (ICAI) and Eastern India Regional Council (EIRC) had organised a seminar on the Budget earlier this week.
According to Subodh Kr. Agrawal, Former President, ICAI, the Budget is “pragmatic, well balanced with long term vision”.
“Revenue has been targeted to be generated by way of saving from subsidy leakage, monetisation of gold, addressing the black-money stacked in foreign countries, introducing the GST, taking enabling provision charging additional 2 per cent as service tax for Swachh Bharat initiatives,” he added.