Being the last budget of this Government it was considered a given that it will be a populist budget but then it’s different this time (only with respect to the budget). Yet again a budget strictly aligned to fiscal discipline setting long term goals to be achieved on socio economic factors addressing key bottlenecks that are holding us back and addressing them with broader specifics with details to follow thereafter.
The budget is focused on Infrastructure, Education, Health and farm income which are the most important socio economic factors for India and have been so for quite some time now. Most of the initiatives cannot be pin pointed to have direct benefits but as the FM rightly pointed out Swastha India is the India that can be the future developed India. The medical insurance scheme is bound to change the way rural healthcare is dealt with in this country albeit with its own set of challenges. The Ekalavya’s will help India march through with the advantages of the demographic dividend. The focus on education and MSME’s coupled with infrastructural developments across logistics, airports, dedicated freight corridors and roads will embark the Indian economy on a path of sustained growth that is difficult to foresee given our past track record. But then this Government has always been great at execution and we have no reason to believe that the machinery would deliver any differently in future as well. (toilets, crop insurance, GST, demonetization, power)
What we like most about this government approach is the way it targets root causes as has been with farm income. Value addition though food processing, Gramin agriculture markets to aid farmers get out of the archaic APMC ambit and MSP being fixed at a percentage above cost and even the lessee borrowing problem in agriculture has been touched upon.
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We believe the budget is one step forward in the right direction to align the country towards its long term goal of inclusive and hence sustainable growth. Padhega India, Badhega India.
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