Budget 2018 Review The Winners And The Losers
Considering that the Indian economy is reeling under a 1 lakh crore deficit due to GST tax cuts on more than 200 products, low tax collections since November, less than the anticipated dividend, a decrease in telecom spectrum revenue, rising fuel prices, excise duty cuts on petrol and diesel.
Moreover, the exports grew slowly at a steady rate of 12 percent a month while private investments have reduced from 2014-15 to 8-lakh cr. Farmers were unable to get remunerative prices for their produce and the agriculture was reeling under distress.
Did the Budget meet your expectations? Well, not really. There were a few hits and misses. The Union Budget 2018 was an election budget where the Indian middle class was left out while the salaried class and investors were left disappointed. The budget focuses more on therural economy, farmers, healthcare, education, and infrastructure.
The MD & CEO, Yes Bank Rana Kapoor said, “In the framework of past reforms concluding into early green shoots for savings, a sincere increase in provision for infrastructure by 21% with an increase of corporate tax relaxation for MSMEs, a chiseled emphasis on creating livelihood in agronomy and rural sectors through new Operation Green and National Health Protection schemes, inducements to augment employment in labor-intensive sectors of textile, leather and footwear will ensure a robust consumption and investment push in FY 2019. In addition, the global economy directedrenewal in exports will really let India’s growth become multi-dimensional hereafter. The fiscal strategy appears to channelizeexpenditure to sectors that have the potential to maximize backward and forward links in the economy through capacity augmentation and job creation.”
The Hits and Misses of the Union Budget 2018
SME’s and MSME’s:
This story is from the February 2018 edition of Small Enterprise.
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This story is from the February 2018 edition of Small Enterprise.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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