The new reform agenda of Modi 2.0
Finance Minister Nirmala Sitharaman pushes for growth while correcting the anomalies of the Budget. But she will need to do more to keep the momentum going.
Finance Minister Nirmala Sitharaman pushes for growth while correcting the anomalies of the Budget. But she will need to do more to keep the momentum going.
The Budget comes when the economy needed a makeover by providing an impetus to many sectors, particularly agriculture, rural infrastructure, startups, and micro, small and medium enterprises.
The underlying essence of Union Budget 2019 is institutional reforms and green tech-led growth which can equip India for the times ahead.
The government aims to turn India into a $5-trillion economy in the next five years, but it has to cross several hurdles along the way.
The success rate of tax amnesty schemes is usually low. Sabka Vishwas Scheme, announced in the Budget to tackle the huge pile of pending tax disputes, could produce see a different result.
Ambiguity on whether the extension of the buyback tax will also apply to companies who initiated their buybacks before July 5 has left the industry in a quandary.
India’s responses to competition have to be flexible, and within the framework of an ongoing conversation between the govt and all stakeholders. This Budget was a great start in that process.
FM seeks to address pain points in the economy, boost infrastructure and capital markets. But hike in surcharge for higher taxable incomes dampens sentiment.
Faced with a funding crunch, the government is depending heavily on foreign direct investment and overseas portfolio players, retail investors, and a PPP model to finance its projects.
Here’s what India Inc. thought of finance minister Nirmala Sitharaman’s first budget.