The Budget 2020 is a developmental growth-oriented Budget ensuring more than 6.5% GDP Growth with Fiscal Deficit of less than 3.5% in FY 2020-21 to pave way for 5 trillion dollar economy by 2024 says IIF Prof. Aman Agarwal.
Finance Minister Nirmala Sitharaman has laid foundation for Holistic Growth for energised India, wealthy human capital and a Healthy Indian. The Budget is progressive, farsighted, has a long-term vision keeping Sabh ka Saath, Sab ka Vikaas, Sabh ka Vishwash to eradicate poverty and lay the foundation of Bharat as Sone ki Chidya in the Hearts of every Indian.
FM has provisioned adequately to handle 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 to ensure build 4 crore jobs and food to every last citizen of our proud India, being the 5th largest economy of the world induced with over US$ 461 billion as Forex Reserves fostering Aspirational India, Economic Development, rich Heritage civilisation, and a Caring Society.
The Budget will bring smiles to every citizen of our erstwhile Hindustan. Well-deserved and desired respite to the middle class, the agro-rural citizens, EWS, women, senior citizens & the MSME in the budget proposals, is a jewel in the crown as a glowing Shalimar Baagh (of Jammu & Kashmir).
The budget has provided for largest producing investment and consumption boost keeping the fiscal deficit in check at 3.5 per cent with effective Governance, administrative reforms for handholding and having minimized controls.
The budget has enlightened the ray of hope of an Ayushman Bharat with Dignity for All, ease of prosperous living and caring for the Society.
Tax simplification and rate reduction on both personal and corporate (earlier) will boast consumption and remove anomilties dues to over 100 exemptions being provided for over 7 decades under old system, removal of dividend taxation will remove double taxation and simplifications will induce transparency led better governance towards ease of living, ease of doing business and huge boyancy towards sab ka Vikas for a sunehra Bharat.
The Budget will be welcomed by the people of India to celebrate the success of Hindustani with folded hands and an empowered enriched aspirational India.
(Writer is Director & Professor of Finance, Indian Institute of Finance)