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Finance Minister Nirmala Sitharaman will present the Union Budget 2019 on July 5, which will be watched by not only Indian investors but also foreign investors as the Indian economy is in a tough spot. Most people feel that the government could focus more on infrastructure and rural spending, which are key areas to bring growth back on track. They also expect the government to take measures to create job opportunities. I expect this budget to focus on job creation through infrastructure growth and boosting rural economy. In the Interim Budget, a significant amount of resources has been allocated for announced social welfare schemes. Given the state of the economy and the issues facing farm sector, this Budget is unlikely to be any different. Reforms in infrastructure, agriculture, banking, NBFCs and healthcare would be the key areas in the upcoming Budget. With respect to
income tax, the brokerage believes that the rebate announcements made in the Interim Budget would continue and no further change in slab would be announced. Currently, inflation, fiscal deficit and current account are less of an issue. However, the slowing GDP growth, agrarian distress, unemployment levels and financial sector woes are the key challenges that the BJP government has to tackle in its second consecutive term. A large part of the industry has been asking for rationalization and some cuts in the GST rates for select pain points where growth has virtually come to a standstill. Of course, job creation will be the top priority along with addressing rural distress. Equity markets need to be vibrant as job creation and economic growth will require capital and divestment of state-run businesses.
Finance Minister Nirmala Sitharaman will present the Union Budget 2019 on July 5, which will be watched by not only Indian investors but also foreign investors as the Indian economy is in a tough spot. Most people feel that the government could focus more on infrastructure and rural spending, which are key areas to bring growth back on track. They also expect the government to take measures to create job opportunities. I expect this budget to focus on job creation through infrastructure growth and boosting rural economy. In the Interim Budget, a significant amount of resources has been allocated for announced social welfare schemes. Given the state of the economy and the issues facing farm sector, this Budget is unlikely to be any different. Reforms in infrastructure, agriculture, banking, NBFCs and healthcare would be the key areas in the upcoming Budget. With respect to
income tax, the brokerage believes that the rebate announcements made in the Interim Budget would continue and no further change in slab would be announced. Currently, inflation, fiscal deficit and current account are less of an issue. However, the slowing GDP growth, agrarian distress, unemployment levels and financial sector woes are the key challenges that the BJP government has to tackle in its second consecutive term. A large part of the industry has been asking for rationalization and some cuts in the GST rates for select pain points where growth has virtually come to a standstill. Of course, job creation will be the top priority along with addressing rural distress. Equity markets need to be vibrant as job creation and economic growth will require capital and divestment of state-run businesses.
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