BENGALURU: Prime Minister Narendra Modi is highly optimistic about the upcoming budget. He visions an India that is one among the top 10 nations. The first budget framed by Arun Jaitely was shoved under the carpet as the maiden budget did not manage to create much of a stir. A lot more is riding on the coming budget. Citizens are of opinion that the Indian government has been focusing a lot on international relations and matters that actually matter to them are being sidelined.
Business Insider reports that people are eagerly looking forward to the development mantra which the government is yet to present. The common man is betting high horses on the promises made by Modi prior to his victorious elections. While Arun Jaitely along with core team members are in the final stages, there are some key points that concern the citizens more than anything else. Prime focus must be onControl the fiscal deficit and removing such subsidies that benefit the rich more than the poor, more divestment in the loss making PSUs, increase FDI in insurance, roll out of GST are. Also this government must ensure that they do not leave out sectors like tax holidays, improved tax laws for key sectors and more importantly India must be prepared for the ‘global shocks’. However a nationwide new GST is in the making, which is going to be the highlight of this budget
Moreover Indians are not prepared to go through another five years of policy paralysis, which ruined the economy under the previous governments. Therefore, speed, whether it comes to policy formulation or decision making is something both Indians and the world are expecting from the new government.
The government needs to take a look back at few old things and replace them with changing times , especially with the country developing great appetite for ecommerce, the new age business model. Few simple principles that the government must work out are to—tet investment, improve international presence, better economy and create jobs.
Quite a target achieved.
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