Modi 2.0 presented its first union budget on 5th July 2019, with a thumping majority in their kitty it is very imperative that they(government) live up to the highest expectations of people of India. We bring to you the main highlights of the budget along with a detailed report which is as follows:
- The main focus of the budget was on the macro- level of economics mainly focussed on making India $5 trillion economies.
- The second major focus was on providing short term boost to the real estate sector, as it impacts labor in a huge way.
- This is a welcome step, though what level of impact it will bring due to the cap of Rs.45 lacs is yet to be known.
Rural India, NBFC and Corporates were other major beneficiaries.
- Other areas of importance and can prove game changer i.e. less pollution, less import bill, the strong rupee against US dollar and if a lead was taken then the potential export area is tax benefit on interest on loan against electronic vehicle up to Rs.2,50,000 for two years.
- The very tight fiscal target of 3.3% is also ambitious a lot will depend on disinvestment speed and success. This fiscal discipline is also commendable.
We won’t call it a dream budget. Overall we will say its good budget but could be better.
Get detailed information about Union Budget 2019 –