Modi Government s maiden General budget must be placed as a pragmatic ,balanced and a systemic budget. Finance Minister has displayed the knack of practicing the balanced acts.He has tried to touch every sector and section in a prudent manner. But Sorry, no big bang reforms.But this budget may be first step towards better days on the offing. Raising the Tax exemption limit by Rs 50000, Tax deduction on interest from Housing loans raised by Rs 50000 , hiking of Investment limit under section 80 C are surely positive steps to catch the fancy of common man coupled with an eye on encouraging them to save and spend more.------------He has laid the emphasis on fiscal prudence by curtailing the spendings.and pegging this figure at 4.10% for FY 15, which is not an easy cake walk. He is very precise about concentrating on Infrastructure and manufacturing sector in order to bolster the growth. Raising of F D I Limit in Defence and Insurance sector from 26% to 49% is a welcome step. Other significant highlights of this budget are--------- Disinvestment Target is set at Rs 43000 crores for FY 15. Rs 38000 crores allotted for National Highways Rs 1000 crores set aside for Industrial corridors. Rs 200 crores provision for Textile Clusters. Scheme for new Airports to be set up in Tier 2 and Tier 3 cities Road map to set 100 new cities. In order to prop up Agriculture growth , cheap finance facility from NABARD for landless farmers To begin project work on linking of rivers. To set up five new I I T and Five new I I M , Four new AI I MS Rs 200 Crores set aside for Power Reforms for Delhi. F M has also tried to address the masses centric issues like allotting Rs 150 crores for women safety, Rs 100 crores for girl child education, Rs 500 crores to locate displaced Kashmirs migrants. Though some negatives are also here like raising long term capital gain tax on Mutual Fund investors., Funds allocation for Girl education and women security are at lower side. Many people will not be enthused with the project of setting up the statue of Sardar Patel valuing rs 200 crores Overall the bottom line is that the intent of this Government is to send right signals and to restore confidence among country men.Now the key will be to translate the budgets fine prints in to implementation.process.
Posted on: Thu, 10 Jul 2014 12:47:16 +0000
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