Union Budget 2019 updates: Nirmala Sitharaman will deliver Budget speech at 11 am. From raising retirement age to addressing farmers’ woes, here’s what to expect from Budget 2019
On Thursday, the government tabled the Economic Survey 2018-19. It projected the country’s GDP growth for 2019-20 at 7 per cent, up from five-year low of 6.8 per cent, on the back of anticipated pickup in investment and consumption. The survey retained the fiscal deficit projection at 3.4 per cent of GDP for the current financial year, the same as in the revised estimate of Interim Budget 2019-20. The Survey also said that the country would need to grow at eight per cent annually to be able to achieve its target of becoming a $5-trillion economy by 2024-25.
Here are the key takeaways from Budget 2019 speech
— From $1.85 trillion in 2014, the economy has reached $ 2.7 trillion
— We are well within our capacity to reach $ 5 trillion in the next few years
— Economy will grow to become a $3 trillion economy in the current year itself
— Reform, perform, transform
— India Inc is India’s job creators
— Between 2014 and 2019, we provided a rejuvenated centre-state dynamics, cooperative federalism, GST council and strident commitment to fiscal discipline.
— Bharat Mala 2.0 to focus on states to build their road networks
— Village, poor and farmers are at the centre of all of this govt’s programmes
— Govt will invite suggestions for further opening up of FDI in aviation sector, media, animation AVGC and insurance sectors in consultation with all stakeholders. 100 per cent FDI will be permitted for insurance intermediaries
— Railway infra would need an investment of 50 trillion between 2018 and 2030; PPP to be used to unleash faster development and delivery of passenger freight services
— Local sourcing norms for FDI to be eased for single-brand retailing sector
— Electronic Fundraising Platform, a social stock exchange, to be set up to list social enterprises and voluntary organizations working for social welfare objectives
— We are well within our capacity to reach $ 5 trillion in the next few years
— Economy will grow to become a $3 trillion economy in the current year itself
— Reform, perform, transform
— India Inc is India’s job creators
— Between 2014 and 2019, we provided a rejuvenated centre-state dynamics, cooperative federalism, GST council and strident commitment to fiscal discipline.
— Bharat Mala 2.0 to focus on states to build their road networks
— Village, poor and farmers are at the centre of all of this govt’s programmes
— Govt will invite suggestions for further opening up of FDI in aviation sector, media, animation AVGC and insurance sectors in consultation with all stakeholders. 100 per cent FDI will be permitted for insurance intermediaries
— Railway infra would need an investment of 50 trillion between 2018 and 2030; PPP to be used to unleash faster development and delivery of passenger freight services
— Local sourcing norms for FDI to be eased for single-brand retailing sector
— Electronic Fundraising Platform, a social stock exchange, to be set up to list social enterprises and voluntary organizations working for social welfare objectives
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