The budget has its pluses and minuses like any other policy document. It is a statement of intent and hopes. The key focus is on job creation, maintaining the capex outlay and balancing aspirations of 1400 million people.
It spurs consumption if the grand experiment on incentivizing employers succeed. The 1.48 lakh crores will not be a waste if the employers bite the bait. This seems a little doubtful at our end as most employers want skilled labour to run their operations.
Capex outlay has been maintained at 11.11 lakh crores. The fact that they have been able to do so is commendable despite a coalition government. The outlay has been across infrastructure, defence and other sectors such as solar energy across the length and breadth of the country. For defence it has been raised to 172000 crores from 157228, railways has been raised to 252000 from 240000 crores. States have been additional grants in the region of 50000 crores plus. New and Renewable energy has more than doubled from 7100 crores to 17553 crores.
The fiscal roadmap is the no 1 achievement of this government. The current reduction to 4.9% from 5.1% expected was a surprise and the commitment to reduce it to 4.5% is the key thing committed by the government.
The negative aspects is simplification of capital gains and raising rates across short term,longterm,fno and real estate. The reduction in gold and silver import tax rates was the silver lining in the budget.
Like the PM says Acchedin aanewale Hain, we reciprocate the sentiment.
