FM Arun Jaitley presents Budget 2018-2019. We promise to reduce poverty and create a new India. We hope to grow at 7.2-7.5% in the second half: Arun Jaitley

This year’s Budget will focus on strengthening agriculture and rural economy, Indian economy has performed very well since our Govt took over in may 2014, It is now the seventh largest in the world.Indian economy is on course to achieve high growth of 8%. Economy to grow at 7.2-7.5% in second half of 2018-19.

Agriculture & Rural Economy: Our emphasis is on generating higher income for farmers, says Arun Jaitley.We want farmers to earn 1.5 times the cost of produce. We will increase MSP by 1.5 times for coming Kharif Crop.

 Budget 2018 Highlight:

  • Mudra Yojana target increased to Rs 3 crore.
  • Namami Ganga programme outlay has been increased, with an all round development plan for villages and cities along the holy river.
  • Pradhan Mantri Gram Sadak Yojana target reduced from 2022 to 2019
  • Health Insurance increased for the poor families. Flagship national health programme launched to cover 50 crore people.
  • Higher Education given major focus in the budget with a special impetus on research taking a big step forward towards shifting the country from a manufacturing base to a research base.
  •  Credit to agri sector to be increased to the farm sector.
  • MSP to be increased by 150% for Kharif Crop. Rs 2000 crore allotted for improving Agriculture Sector.
  • Ujwalla Yojana scope increased suggest increased LPG consumption
  • Domestic production of Defence equipment will be given focus through a policy measure.
  • Lack of clarity on defense production continues to hamper the local industry who had allocated capital for the same.
  • SEBI to consider asking large companies to raise 25% of their debt from the bond markets. Alternate financing and proposal to strengthen of bond markets is a good move as a strong bond market helps economic growth.
  • An Assocham-Crisil study shows  India's debt market penetration at a meager 35% and 17% for G-secs and corporate bonds as compared to 83% and 123% in the USA.
  • Airport network to increase to take care of rapidly increasing traffic. Positive move to airline companies as new airports are opened up.
  • Mumbai Railways finds a space in the budget, with Rs 11,000 crore of outlay.
  • Suburban railway in Mumbai and Bengaluru will be increased.
  • Improved railway network and accessibility generally have a positive multiplier effect on real estate. Watch out for real estate in Bengaluru
  • Railway capex at record high at Rs 1.48 crore.  18000 km of line doubling and transforming entire network to broad gauge.

 

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