Budget 2018 squarely addresses rural and farm distress through targeted measures. There are no general subsidies and nothing that can be immediately classified as wasteful expenditure. Whether it’s the linking of Minimum Support Prices (MSP) to input costs or the provision of a reasonable level of health insurance to just fewer than 40% of our population, measures announced in the budget pinpoint the root causes of distress and provide solutions.
Budget 2018 was awaited with bated breath and Finance Minister Arun Jaitley did not disappoint, mainly on social and welfare schemes. While income tax slabs, which is what most taxpayers look forward to, remain the same with a slight relief for the salaried class, the biggest takeaway without a doubt this Union Budget was the healthcare sector.
In Budget 2018 speech, finance minister Arun Jaitley announced that the minimum support price (MSP) for crops will be such that it guarantees farmers a 50 per cent return over their production cost. However, this decision after the Budget 2018 has paved the way for the question that what really constitutes the ‘cost of production’.
Budget 2018: A day after Budget 2018-19, which spooked markets with the news of fiscal slippage, economic affairs secretary Subhash Chandra Garg asserted the Centre is serious about fiscal consolidation and the 3% deficit target would be achieved in FY20.
Budget 2018: An investment policy for PSUs adopted by the government two years ago has yielded rich dividends — while the economic conditions required higher public spending, PSUs have invested whopping amounts over the last couple of years and are poised to do so in the next year as well.
Budget 2018: The much-awaited Union Budget 2018 was announced on Thursday by the honourable finance minister. The Budget holds great significance for the reason that this was the last Budget under the current government. It was crucial for them to delicately balance the expectations of the common man along with the growth objectives for the country. […]
Budget 2018: This year’s Budget, presented by finance minister Arun Jaitley, laid a strong focus on driving inclusive development and boosting the economic growth. The measures introduced to bolster fields such as agriculture, infrastructure, SMEs, youth skilling and rural economy are commendable. The growth focus around ease of living is laudable, and we are hopeful […]
Budget 2018: The government’s determined focus to make real estate as one of its key drivers has been amply evident in the last couple of years. The Union Budgets have played a significant role in this, augmenting the sector with initiatives such as infrastructure status for affordable housing, extension of income tax benefits up to 60 sq metre-sized apartments, amendments in Real Estate Investment Trusts (REITs).
Budget 2018: Real estate and its allied sectors are the second largest employers in India, next only to agriculture. Most estimates believe that real estate in India will touch the $180-200 billion mark by 2020 and is expected to grow by 30% over the next decade. The importance of the housing sector can be gauged from the fact that it alone contributes about 5% of the GDP.
Budget 2018: Finance minister Arun Jaitley presented the Budget against the backdrop of unprecedented optimism and renewed macro-economic vigour demonstrated in the Economic Survey 2018. Arguably, the economy’s rebound from temporary setbacks of demonetisation and GST has been remarkable, as the pace of GDP growth has seen a spike in H2 of FY18.
Budget 2018: India’s trade scenario remains uncertain, especially because its export growth has been far lower than expected. In the past, the sluggish global economy had proved to be a major drag, but with most regions registering decent growth rates in 2017, there was a sense of optimism that India’s exports would also measure up.
Budget 2018: The Budget has catered to essential needs of citizens through measures taken in health, education, housing and infrastructure. Financial inclusion will get a boost through higher penetration of banking services, increased health insurance coverage through the National Health Protection Scheme and easy access to credit through Mudra Yojana and Kisan Credit Card.
Budget 2018: Focused initiatives for agricultural and rural growth such as the minimum support price (MSP) pegged at 1.5X, infrastructure investments through a Rs 2,000-crore fund for upgrading rural agri markets, Operation Green, financial assistance to farmers, among others, will boost agricultural growth and bolster the farm-to-market chain.
Budget 2018: The Budget signals that reforms and growth will continue to be the top priorities of the government. The finance minister’s proposals are prudent and forward looking. The emphasis is on a demand-led growth which would lead to larger investments, building new infrastructure and creation of new employment opportunities in the country.
Budget 2018: When he started his speech, finance minister Arun Jaitley said what had largely been expected, that the Budget would focus on agriculture and rural economy. He did not disappoint, with what has largely turned out to be a ‘socialist’ Budget, and I rate it at 7.
The end-of-term Budget for 2018-19, presented by finance minister Arun Jaitley, had to necessarily address the widespread concerns relating to rural distress, job creation and the general diffidence among the business class on account of the after-effects of demonetisation and GST. To his credit, the Finance Minister has done a reasonable job in addressing the […]
Budget 2018: I must compliment Prime Minister Narendra Modi and finance minister Arun Jaitley for intense focus on fiscal prudence in this Budget. There is a huge focus in this ‘New Bharat’ Budget on inclusive growth and the farm sector, and despite that fiscal deficit targets have not been compromised.
Budget 2018: Mobile phone manufacture is the most obvious Make-in-India story. From just two in 2014, India has 123 manufacturers today. The output of phones is up from 48 mn to 224 mn and will rise further this year (2018) to 279 mn. Put another way, from a mere 19% in 2014, Made-in-India mobiles are up to 74%, and by the end of 2018, this will rise to 90%.
Budget 2018: Some might say it was the writing on the wall, given RBI’s paper had mentioned Blockchain last year and Andhra Pradesh (AP) government announced digitising of land records using the technology, but the FM, by declaring the use of blockchain, has undoubtedly ushered a new era of digitisation for the country
The Economic Survey is released by the department of economic affairs under the guidance of the chief economic advisor (CEA) every year. It presents the ministry of finance’s (MoF) view of how the Indian economy performed over the last 12 months.
In Budget 2018, the rural sector has been the primary focus of the finance minister, with measures such as assured minimum support price, and increased expenditure on rural infrastructure including housing, irrigation and roads.
Union budget 2018 reflects the political expediency seeking balance with economic imperatives. Finance minister Arun Jaitley and his team should be commended for sailing the fiscal ship smoothly even as winds are turning unfavourable. Of the multitudes of targets and tools a budget is about, I choose three broad aspects for current analysis.
All the financial markets in India closed in red as a preliminary reaction to the Budget 2018-19. This does not necessarily mean a negative reaction to the Budget proposals in all the financial markets. The earlier run-up to the Budget has been quite robust for the equity market where the popular indices have been creating historic highs.
Finance minister Finance Minister Arun Jaitley’s briefcase had a range of goodies aimed at all sections of India. He applied financial balm to distressed farmers by aiming to double rural incomes and providing a minimum floor for buying kharif crops.
This is is one Budget which was greatly anticipated by the apparel and textiles industry — and in particular, the apparel export industry. For the last four months, starting October 2017, the apparel export industry has faced continued stress. The cause was the unintended but sharp reduction in input tax reimbursement after GST introduction — a reduction of about 5% of sales value.
The gems & jewellery sector has been waiting for long to be in the good books of the Modi government and it looks like we are getting there. Like a child who has been scolded and is now maturing into a well-guided individual, I feel the jewellery industry, spearheaded by the bullion category, is finally finding its way.
Better farm income realisation, allocations for APMCs (agricultural produce market committees), thrust on rural developments, focus on roads and highways with higher allocation, and measures to boost MSMEs in the Budget are expected to benefit two-wheelers, tractors, auto components industries. Though the proposed increase in the customs duty to 15% from 10% on imports of […]