India’s Budget focuses on farm sector, gives little to middle class

Finance Minister Arun Jaitley announced standard deduction Of Rs 40,000 for salaried employees in lieu of transport and medical expenses.

The required budget for the scheme would be Rs 5,000-6,000 crore, with the Centre already having earmarked Rs 2,000 crore in the current budget for it. However, seasonal and regional production of these perishable commodities pose a challenge in connecting farmers and consumers in a manner that satisfies both.

Jaitley’s statement on cryptocurrencies is in line with earlier announcements by the government. Now “Operation Greens” shall promote Farmer Producers Organisations (FPOs), agri-logistics, processing facilities and professional management. He said this would take care of almost 99 per cent of the companies and would have a negative impact of Rs 7,000 crore on government finances.

Government aims for 2018-19’s fiscal deficit target of 3.3 per cent of GDP.

Domestic handset maker Micromax’s co-founder Rajesh Aggarwal said, “As India is becoming the global hub for manufacturing, the measures taken by the government will surely grow confidence amongst the manufacturers and I strongly believe that this will further create business and human resource opportunities as well”.

Investors in Indian medical stocks clearly expected a windfall from the insurance program: Shares rose in Thursday’s trading.

“Higher Education Funding Agency (HEFA) would be suitably structured for funding this initiative”, he announced during the budget. Our policies need to revolve around this concept. The government has set up a committee with the central bank and various government departments to study possible regulations. We encourage the government to work with our members, as we are committed to detect, report, and eliminate suspicious transactions in pretty much the same way as other institutions do. The reason for this is that most established manufacturers import panels in open cell format and assemble it in the plants in India.

One hopes that with focus and emphasis on these important sectors.

“The government has taken some measures in this Budget towards strengthening the MSME sector”.

The differential corporate tax for the companies up to turnover of Rs 250 crore would help the SMEs and revive their confidence, Mr Sehgal added.

The Indian Industries Association (IIA), a prominent industry lobby group, has said the budget has nothing for the micro small and medium enterprises (MSME) sector, which comprises a bulk of industrial units.

The Union Budget 2018 saw the government make some promising moves in the travel sector.

In the 110-minute speech, in which he kept switching from English to Hindi for wider mass appeal, Jaitley announced plans for agriculture, rural housing, organic farming, animal husbandry and fisheries with a total allocation of Rs 14.34 lakh crore.

Budget 2018 Reactions LIVE Updates What News Makers And Experts Said

 

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