Health care scheme will help under-privileged: CA Vajani

Source: The Hitavada      Date: 07 Feb 2018 10:02:11


 

Business Bureau,

While analysing the Union Budget for 2018-19 here at a seminar on Tuesday, CA Ketan Vajani said that by way of launching the mega ‘health care scheme’ the Government had managed to insure health of a huge number of families. Referring to the National Health Protection Scheme which offers a health coverage of upto Rs 5 lakh per family, Vajani said, it would bring in positive change in lives of many vulnerable and under-privileged persons.


He was speaking at the function organised by Jain International Trade Organisation (JITO) at Chitnavis Centre.
Praising the efforts of the BJP-led Government, he further said that the current policy makers appeared to be bold to take tough decisions. “Be it the decision to defunct high value currency notes or the introduction of Goods and Services Tax (GST), the Government did not shy away,” he said.The e-assessment of Income-Tax will leave no scope for corruption. “But its success is solely dependent on how well the Income-Tax Department executes the policy. We have recently seen system collapsed several times while filing GST. The same should not happen in case of Income-Tax filing,” he said stressing on a need for robust system in place.


Vajani raised a big question mark over Union Finance Minister for introducing Long Term Capital Gain Tax (LTCGT). “I am not very much satisfied with the logic given by the Finance Minister for introducing the tax. The stock market has also been responding negatively for the same as the stock prices are tumbling every passing day,” he said.
Though as of now the Government has introduced only 10 per cent tax on long tern capital gain, he believed that the rates might go up in following years.


CA Jaideep Merchant, another speaker, said that it is not only the Long Term Capital Gain Tax that is eroding the stock market but the factors like rise in interest rate in US and inflating crude oil prices are also squeezing the stock markets“Despite of the prevailing conditions, I firmly believe that it is ideal time to put money in equity market as I foresee stock prices to climb up.

Equity market may reel under pressure for next two to three months but it will overcome all the hurdles by next year,” he said. Merchant said that domestic investors have been investing immensely in the equity market and thus the impact of foreign money on the Indian stock markets has diluted. As long as Indians continue to put money in equity market, there are bright chances for share prices.


Earlier in his keynote address, Nitin Khara, Vice- Chairman of Nagpur Chapter of JITO, welcome the speakers and spoke about the activities of the organisation.
CA Julfesh Shah, Chairman of the Taxation and Finance Committee of the organisation, conducted the proceedings of the event. Pratik Saraogi, Secretary, Ashwin Shah, Chairman of Business and Other Laws, and others were present.