What Modi Expects From the Union Budget 2018

Recently, we heard that honorable Prime Minister, Narendra Modi has asked people to stop judging him on demonetization and GST only as it is unfair. By countering the entire allegations that his government had reneged on the promise of creating 10 million jobs a year, he quoted a recent study that says seven million jobs had been created in the formal sector alone in the financial year 2017. He also cleared that the data of seven million jobs is not like building castles in the air. This is been calculated by an independent agency on the basis of EPFO (Employees’ Provident Fund Organisation) figures.

Before pointing fingers, everyone should also count the opportunities that were being created in the informal sector. Modi also presented a fact that says 100 million people have taken loans from the Prime Minister Mudra Yojana without any bank guarantee. The loans to the tune of Rs 4 trillion have been disbursed, which will give birth to new entrepreneurs. Will these figures be not counted as job creation?

He went on saying that the government is on the right track so far as job creation is concerned. Prime Minister said the country remaining in the perennial election mode not only affected governance but also hurt the federal structure of the country.

Coming to the subject of agriculture, he said his government had an ambitious programme to double the farmers’ income by 2022 through Prime Minister’s crop insurance scheme. Farmers can expect some good opportunities in the upcoming Union Budget 2018.

It is also expected that the Union Budget 2018 would play a crucial role in determining the growth trajectory of the industry and the economy at the same time. To ensure a balanced economy, it is believed that finance minister would look at reining in fiscal deficit below 3.2 percent.

In order to facilitate industrial growth and promote ‘Make in India’, there need to be reforms that would improve the quality of infrastructure and logistics, such as wider roads, modernization of ports, railways, and airports.

Money Classic Research is a trusted name among investors and traders that is original in offering financial services arena.