The one page format for the IT assessment shows that the Budget is for the common man and all sections of the society. Finance Minister Arun Jaitley has done his best to keep all the sections of the society very happy. Political cash funding cap at Rs 2000 is a very bold decision.
The allocations for MNREGA and the SC STs have gone up. This is a significant change. No doubt it can also be called as popular budget as the FM has cut taxes and increased allocations. A big push has been given to the industries in the MSME sectors. It is of course a game changing budget said many of the Industrialists.
The construction industry will also develop said some of the realtors. The poor, middle class and the Rich are being benefited in some way or the other. There will be no capital gains for the farmers from Amaravathi of Andhra Pradesh according to the budget decision. People with income under Rs 3 lakh will have no tax. But Rahul Gandhi the VP of Congress said that BJP Government failed on providing employment.
What happened to the bullet train, what about the safety aspect of railways Rahul questioned. The budget goes against the poor people Rahul opined. But the FM said that unmanned level crossings will be removed by 2020. A new FDI policy is being mooted and will be announced soon. New law for economic offenders who abscond. Their assets will be confiscated. There is some focus on Job creation.
This is a budget for growth in the country and one significant thing is that nothing specific has been announced keeping the elections of 5 states in mind. This budget gave the biggest ever allocation for the development of infrastructure for the first time.
On the whole it is a balanced and growth oriented budget.
U.Srinivas
Editor
