The moment I started writing this article...it was like...long time no see....
Starting from the time of election polls when the whole nation was gripped in the euphoria of Modi Wave...
The expectations of delivering and meeting the Aam Admi Expectations were at their all time high levels after considering the track record of Modi Regime....
Also the reforms taken in the past few months on the policy making and structural front of the country brought a rejuvenation.
This was the best time to make a common man happy as the falling oil prices have made the government's task much easier on macro-economic front, (inflation, fiscal deficit and current account deficit).
Few things which would have been highly appreciated :
Less of manufacturing prices as WPI and CPI numbers are declining and also it will help middle class people to ease out on their pockets...
Tax exemption and deductions in Section 80 C, Payment of Premium will help in more of Domestic Savings and will lead to further investments
Increase in Home Loan Interest Limit to give impetus to the housing industry, thus boosting the economy in the long run.
This Union Budget 2015 was a Litmus Test for Modi Sarkar to "Make In India"
That was a very short abstract from the expectations front...
Few of the achievements made :
* Financial Inclusion - 12.5 crores families financially mainstreamed in 100 days.
* Transparent Coal Block auctions to augment resources of the States.
* Swachh Bharat is not only a programme to improve hygiene and cleanliness but has become a movement to regenerate India.
* Game changing reforms on the anvil: . Goods and Service Tax (GST) . Jan Dhan, Aadhar and Mobile (JAM) - for direct benefit transfer.
Now if we move on to what did Budget 2015 brought for us...
The middle class and the common man had a lot of expectations from this, the budget is progressive in nature and supplements India's growth path, which would eventually benefit the citizens. Thus, it appears to be a case of short term pain for long term gains....
The major updates are as follows :
A glimpse from Vision for "Team India" led by PM
* Housing for all - 2 crore houses in Urban areas and 4 crore houses in Rural areas.
* Basic facility of 24x7 power, clean drinking water, a toilet and road connectivity.
* At least one member has access to means for livelihood.
* Substantial reduction in poverty.
* Electrification of the remaining 20,000 villages including off-grid Solar Power- by 2020.
* Connecting each of the 1,78,000 un-connected habitation.
* Providing medical services in each village and city.
* Ensure a Senior Secondary School within 5 km reach of every child, while improving quality of education and learning outcomes.
* To strengthen rural economy - increase irrigated area, improve the efficiency of existing irrigation systems, and ensure value addition and reasonable price for farm produce.
* Ensure communication connectivity to all villages.
To make India, the manufacturing hub of the World through Skill India and the Make in India Programmes.
* Encourage and grow the spirit of entrepreneurship - to turn youth into job creators.
* Development of Eastern and North Eastern regions on par with the rest of the country.
However few major challenenges
But all of that can be achieved and that the dream of Make in India can be fulfilled through apt Fiscal Roadmap, Good governance, Safer and Greener India....
So before commenting about others, we should promise and contemplate that how we gonna change ourselves and contribute to make India the best nation....
Starting from the time of election polls when the whole nation was gripped in the euphoria of Modi Wave...
The expectations of delivering and meeting the Aam Admi Expectations were at their all time high levels after considering the track record of Modi Regime....
Also the reforms taken in the past few months on the policy making and structural front of the country brought a rejuvenation.
This was the best time to make a common man happy as the falling oil prices have made the government's task much easier on macro-economic front, (inflation, fiscal deficit and current account deficit).
Few things which would have been highly appreciated :
Less of manufacturing prices as WPI and CPI numbers are declining and also it will help middle class people to ease out on their pockets...
Tax exemption and deductions in Section 80 C, Payment of Premium will help in more of Domestic Savings and will lead to further investments
Increase in Home Loan Interest Limit to give impetus to the housing industry, thus boosting the economy in the long run.
This Union Budget 2015 was a Litmus Test for Modi Sarkar to "Make In India"
That was a very short abstract from the expectations front...
Few of the achievements made :
* Financial Inclusion - 12.5 crores families financially mainstreamed in 100 days.
* Transparent Coal Block auctions to augment resources of the States.
* Swachh Bharat is not only a programme to improve hygiene and cleanliness but has become a movement to regenerate India.
* Game changing reforms on the anvil: . Goods and Service Tax (GST) . Jan Dhan, Aadhar and Mobile (JAM) - for direct benefit transfer.
Now if we move on to what did Budget 2015 brought for us...
The middle class and the common man had a lot of expectations from this, the budget is progressive in nature and supplements India's growth path, which would eventually benefit the citizens. Thus, it appears to be a case of short term pain for long term gains....
The major updates are as follows :
- Tax exemptions for health insurance premiums, senior citizens, differently-abled persons, pension contribution
- The transport allowance for salaried, which currently stands at Rs 800 per month was increased to Rs 1,600 per month.
- Encouraged by the success of the Pradhan Mantri Jan Dhan Yojana, the Finance Minister proposed to work towards creating a universal social security system for all Indians, specially the poor and the under-privileged for that Pradhan Mantri Suraksha Bima Yojana will be launched to cover accidental death risk of Rs 2 lakh for a premium of just Rs 12 per year.
- Similarly Atal Pension Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana will be launched.
- no change in the rate of personal Income-tax.
- Another innovative method of monetizing gold which will replace both the present Gold Deposit and Gold metal Loan Schemes.
- This scheme will allow the depositors of gold to earn interest in their metal accounts and the jewelers to obtain loans in their metal account. Banks/ other dealers would also be able to monetize this gold.
- Also development of an alternate financial asset, a Sovereign Gold Bond, as an alternative to purchasing metal gold will happen in near future. The bonds will carry a fixed rate of interest, and also be redeemable in case in terms of the face value of the gold, at the time of redemption by the holder of the bond.
- With a move to up the employability of youth, the government will launch a National Skills Mission through the Skill Development and Entrepreneurship Ministry which will help in Job creation via Make in India.
A glimpse from Vision for "Team India" led by PM
* Housing for all - 2 crore houses in Urban areas and 4 crore houses in Rural areas.
* Basic facility of 24x7 power, clean drinking water, a toilet and road connectivity.
* At least one member has access to means for livelihood.
* Substantial reduction in poverty.
* Electrification of the remaining 20,000 villages including off-grid Solar Power- by 2020.
* Connecting each of the 1,78,000 un-connected habitation.
* Providing medical services in each village and city.
* Ensure a Senior Secondary School within 5 km reach of every child, while improving quality of education and learning outcomes.
* To strengthen rural economy - increase irrigated area, improve the efficiency of existing irrigation systems, and ensure value addition and reasonable price for farm produce.
* Ensure communication connectivity to all villages.
To make India, the manufacturing hub of the World through Skill India and the Make in India Programmes.
* Encourage and grow the spirit of entrepreneurship - to turn youth into job creators.
* Development of Eastern and North Eastern regions on par with the rest of the country.
However few major challenenges
- Agricultural income under stress
- increasing investment in infrastructure
- decline in manufacturing
- resource crunch in view of higher devolution in taxes to states
- maintaining fiscal discipline
But all of that can be achieved and that the dream of Make in India can be fulfilled through apt Fiscal Roadmap, Good governance, Safer and Greener India....
So before commenting about others, we should promise and contemplate that how we gonna change ourselves and contribute to make India the best nation....
nice article
ReplyDeleteHey very good blog....
ReplyDelete