Union Budget 2009 is inviting a little more attention than its predecessors. The obvious reason is economic turmoil being faced by the developed economies of Europe, US and Japan. An attempt to simplify the term Union Budget, without mitigating its significance to a common man is a little different from our monthly household budgets, whereby we draw a balance sheet of our income and expenses and all efforts are to contain the expenses within the income levels. However in case of Union Budget, the practice has been to have more expenses than the revenue collection and the deficit is financed either from international loans or doing the dirty job of printing more currency.
             
In light of above and taking a more realistic approach, my expectations are pragmatic and do not want the moon. Tax simplification and better compliance through rationalization of tax rates is top on my wish list. Multiplicity of taxes, its rates and its ownership is actually generating more confusion and subsequent litigation than its collection. Governments world over do thin tinkering in the tax rates with the objective to boost a weakening sector, while the compensating effect is felt by some other business sector, which subsequently experiences the retard growth.

Dear finance minister please let us have a little more long term approach of tax rates especially the indirect taxes which otherwise are modified every fiscal year.

IT channel community in India comprises small business enterprises and  is suffering from fierce competition and dwindling margins. Speedier implementation of GST and removing octroi, border restrictions of road permits shall give them greater market access and subsequent reason to grow.