Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
BW Businessworld

Interim Union Budget 2019 Will Be A Huge Boon To India

Some of the announcements made by Honourable MoF Shri Piyush Goyal are definitely meeting the expectations of the common man, which will lead to higher consumption, enhanced liquidity in the market, increase in investment and savings.

Photo Credit :

The budget is progressive and it has surely covered the issues that are existing in the economy. The budget has been indeed surprising as it is different from the predecessors. 


Some of the announcements made by Honourable MoF Shri Piyush Goyal are definitely meeting the expectations of the common man, which will lead to higher consumption, enhanced liquidity in the market, increase in investment and savings.


Giving a tax benefit till 5 lakhs is going to prove beneficial to the middle class and something that they have surely wished for. It is in fact beyond their expectation.


With this, there will be an increase in disposable income which will definitely boost the consumption and investment story in India. The increase in savings will lead to a higher spend on consumer durables, FMCG, automobiles, farm equipment etc. leading to higher growth, financial literacy and penetration etc.

Also, the farm sector was depressed and finally they will get relief. The government has planned to give 12 crore farmers 6000 rupees. This is a big move which will uplift their current condition. It will also generate industrial demand and boost production.


Moreover, an increase of gratuity is excellent for the welfare of the people.


Furthermore including the below the poverty line in the provident fund network is again a good move by the government.


Even on the security front, they have spent 3,00,000 crore which is again a gigantic and a much-needed move.


Interim Union Budget 2019 also promises to be pro-growth and ushers a new era of transparency. Complete digitalization of tax assessment is a welcome step too. 


So be it escalating living standards by their cleanliness drive, providing benefit to the common man, the farmers or strengthening security, all in all, the government is surely far-sighted. It is working at the root level for that.


To conclude, the present government has certainly initiated some bold steps since coming to power. These decisions were surely far-sighted. The recent budget brings relief on the middle-income mass and to our farmers. This is a welcome change!


Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


Tags assigned to this article:
Union budget 2019

Dr. Mahesh Gupta

The author is Chairman, KENT RO Systems

More From The Author >>
sentifi.com

Top themes and market attention on: