The Budget is balanced, progressive, farsighted, has a long-term vision keeping electoral bias. It has provisioned adequately to handle farm distress for the deprived and the most disadvantaged, provide way for millions in India to take pride in their knowledge and seek livelihoods with their skills and potential, further secure and provide for healthcare, defense, education, basic income framework, housing and infrastructure developments for under-privileged in all sectors including agriculture, industry and services, ignoring the vote on account convention when elections are due.
FM Piyush Goyal has brought smiles to every citizen of our erstwhile Hindustan. Well-deserved and desired respite to the middle class, the agro-rural citizens, EWS, women and senior citizens in the budget proposals, is a jewel in the crown.
The budget has provided for largest producing investment and consumption boast through the allocation of Rs 75,000 crores towards direct transfer for UBI for 5 crore poor having less than Rs 135 per day income and via the Rs 5 lakh rebate which will cover 60 per cent of the middle class population of 70 crore (700 million citizens) of India despite keeping fiscal deficit in check at 3.4 per cent as projected in my earlier article on in Financial Chronicle on 30 th January 2019. The budget will further increase jobs, employments and foreign direct investment and lay path for 8 per cent + GDP Growth in 2019-20.
The Budget is truly “Sabh ka Saath Sabh ka Vikaas” empowering an Indian for matching challenges of a dynamic enriched empowered India with the face of a farmer and “aam admi”. The budget has enlightened the ray of hope of an Ayushman Bharat leading way for the second term of Modi's government marking this as the path way for celebrating success of Hindustani with folded hands and a proud nation.
The writer is Director, Indian Institute of Finance