71 thoughts on “What Sitharaman’s Union Budget Brings For India”
Tanmay Patil
MDR charges have been waived off so now digital payments will see a boom. Government can also think of rationalising charges by banks on transactions by account holders. It is burning holes in pockets.
Private sector doesn’t have much money to borrow due to government crowding them out. Now that the government will borrow from overseas, private players will have more credit available for them. This is good.
Lending proposal to women members of self-help group is an appreciable step in the budget. But government must also make this lending transparent and accessible so that self-employment can see an uptick.
All targets seem realisitic and budget has steered clear of over estimating income from taxes. GST revenue has not been as expected in past years and this shall increase once people become more familiar with GST.
Additional surcharge on superrich and foreign investors who invest through trust route has discouraged stock market. Rather than earning this way, government should think of other revenue sources.
It is true that not everything relies on union budget. BJP had already declared many measures after winning 2019 polls and not it is how allocated money is spent that will build the new India.
Fiscal deficit target has again been ambitiously set at 3.3%. This may be right in the long run but since there is a need to spend now, it could have been breached. Government needs rethink on Fiscal Management Act.
25% tax rather than 30% for more companies now is a reality. In a slowdown, every industry was expecting this. Margins in past have thinned and by lowering corporate tax government has left something with corporates.
There has been a lot of noise regarding overseas borrowing of India as announced in 2019 budget but when India has a large pool of foreign exchange reserves then why not borrow from foreign?
The budget is commendable as far as its focus on water crisis and farm sector is concerned. Clean drinking water is the foremost necessity of any household and government seems committed towards this.
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MDR charges have been waived off so now digital payments will see a boom. Government can also think of rationalising charges by banks on transactions by account holders. It is burning holes in pockets.
Private sector doesn’t have much money to borrow due to government crowding them out. Now that the government will borrow from overseas, private players will have more credit available for them. This is good.
Lending proposal to women members of self-help group is an appreciable step in the budget. But government must also make this lending transparent and accessible so that self-employment can see an uptick.
All targets seem realisitic and budget has steered clear of over estimating income from taxes. GST revenue has not been as expected in past years and this shall increase once people become more familiar with GST.
Additional surcharge on superrich and foreign investors who invest through trust route has discouraged stock market. Rather than earning this way, government should think of other revenue sources.
It is true that not everything relies on union budget. BJP had already declared many measures after winning 2019 polls and not it is how allocated money is spent that will build the new India.
Fiscal deficit target has again been ambitiously set at 3.3%. This may be right in the long run but since there is a need to spend now, it could have been breached. Government needs rethink on Fiscal Management Act.
25% tax rather than 30% for more companies now is a reality. In a slowdown, every industry was expecting this. Margins in past have thinned and by lowering corporate tax government has left something with corporates.
There has been a lot of noise regarding overseas borrowing of India as announced in 2019 budget but when India has a large pool of foreign exchange reserves then why not borrow from foreign?
The budget is commendable as far as its focus on water crisis and farm sector is concerned. Clean drinking water is the foremost necessity of any household and government seems committed towards this.
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