Nikunj Turakhia President Steel Users Federation of India on The Union Budget 2019 -

Nikunj Turakhia President Steel Users Federation of India on The Union Budget 2019

Nikunj Turakhia President Steel Users Federation of India on The Union Budget 2019

The Union Budget-2019 is growth oriented and populist. It has taken into consideration in grieved farmers, lower and middle class. This is the first time that any government has worked with such a broad vision. The speech of Finance Minister Mr. Piyush Goyal highlighted achievements of the present government and the journey it has set forth in the last four and a half years. The vision of this government, no doubt is superlative and it will be interesting to know how this will be implemented. The interim budget was rhetoric in nature and sounded as the manifesto to the upcoming election. The ten dimensions it has conceived are laudable.

Nikunj Turakhia President Steel Users Federation of India on The Union Budget 2019
Nikunj Turakhia President Steel Users Federation of India

This budget has many positive provisions such as PM Kisan Samman Nidhi Yojana a project worth 75 thousand crore that guarantees direct income support to poor farmers of upto Rs 6,000/year. Also, PM Shram Yogi Mandhan Yojana provides pension to unorganised sector workers after the retirement age of 60 years. The defence of the country is very important and the budget increased the allocation to three lakh crores. A relief to three crore middle class individuals is that tax rebate is increased to five lakh rupees. Also, no income tax will be levied on notional rent for people having second self-occupied home.

This Budget is definitely a welcome note for every citizen of the country. For the first time it feels that management of economy is solid and all macro-economic parameters are in order. With this the nation will gain further impetus and grow in the right direction by increasing expenditure and giving more buying power to middle class. However, the government should have proposed this budget last year or earlier. Yet, I hope it is still not too late and in order to continue India’s growth, we cannot afford to be complacent.

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