Rural Economy Will Boost Income Levels
The budget has laid out a vision for higher economic growth along with social empowerment through a holistic approach to various sections of the economy
Photo Credit : Subhabrata Das
The Union Budget 2018-19 has done a commendable job in holistically addressing the various priorities of the Indian economy. It has addressed social sector priorities and charted out a clear plan to boost infrastructure, while maintaining fiscal discipline.
The wide ranging measures announced for various segments of the rural economy will boost income levels and create gainful & sustainable employment. This in turn will help to increase consumption levels in the economy.
The far reaching National Health Protection Scheme, which will be the largest of its kind in the world, along with measures taken to enhance education, skilling and research & development are indeed welcome steps.
The Government has also maintained its focus on creating infrastructure with an aim to catapult India onto a higher and sustainable growth path. The allocations for roads and railways are at all-time highs, which will have a positive impact on related sectors as well.
All these measures have been undertaken with an eye on continued fiscal prudence. Expenditure has been divided between budgetary and non-budgetary sources. The adoption of a maximum level for public debt to GDP will instil even more confidence in the fiscal framework.
Overall, the budget has laid out a vision for higher economic growth along with social empowerment through a holistic approach to various sections of the economy.
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.