Budget is growth and employment oriented: Experts

geetanjali

Geetanjali Minhas | February 1, 2018 | Mumbai


#Budget 2018   #Arun Jaitley   #Narendra modi   #Health   #Employment  
Photo: Arun Kumar
Photo: Arun Kumar

"It is a growth oriented budget. What we are doing now for the agriculture sector should have been done 20-30 years ago otherwise there will be food inflation and food crisis,” says Gaurang Shah, head investment strategist, Geojit Financial Services Limited.

He was, however, disappointed with reintroduction of capital gains tax and was clueless how the government will support MSP. He however adds that despite 10% long term capital gains, people will not sell their shares because they have nowhere to invest. "Investors will come into the equity market because as an asset class it has created long term returns compared to any other asset class. We are virtually only at the initial stages of stupendous growth."     

FM’s statement ‘People in Hawai Chappal can now fly in Hawai Jahaj’ will be a reality, he adds.

Pranay Vakil, retired founder chairman, Knight Frank India, says, this was the first budget he remembers where Rs 14.3 lakh crore out of total outlay of Rs 21.57 lakh crore has been assigned to rural areas. "Entire focus of the budget is on generating employment. With this allocation the FM has addressed the problem of migration from villages to cities on a daily basis looking for jobs. With 10 lakh employable people waiting for jobs every month, the FM aims to create jobs in villages so people don’t have to migrate,” he says.

However, Vakil points out that Arun Jaitley made no reference to where how the money for medical claims of 10 crore people will be raised keeping in mind 3.3% fiscal deficit. "This means he is assuming revenue from direct taxes, customs duty, and buoyant GST. Overall it’s a good budget with prospective effect" he says.

Giving his views on the allocations for senior citizens, Vakil said, exemptions on FD interests of up to Rs 80,000 per annum, doubling the investment limit of Rs 7.5 lakh with 8 percent returns to Rs 15 lakhs, and medical insurance deduction for senior citizens of Rs 50,000 are few good steps.

"Senior citizens who survive on Rs 10,000 a month can live with dignity,” he says and gives seven out of 10 marks to the budget.
Real estate builder and developer, Niranjan Hiranadani, too gave thumbs up to the budget.

“Bringing 10 crore people under insurance is a huge thing. eighty percent of the salaried taxpayers will benefit by standard deduction of Rs 40,000,” he says. 

Comments

 

Other News

On a personal note: DIVINE

An underground rapper who grew up on Mumbai streets, Divine spins his music around his environment and poverty. His breakout single, ‘Meri Gully Mein’, along with fellow rapper Naezy caught Bollywood’s attention. The Hindi film ‘Gully Boy’ is inspired by their lives and gr

The role model for an IAS officer

Anil Swarup, an IAS officer of Uttar Pradesh cadre who retired in 2018, is a model bureaucrat who retained his optimism right till the end of service and exemplified dedication and commitment. His excitement at the opportunities that a job in the IAS provided is evident on every page of his new book publis

Reform of the civil services: At home and away

The question of reform of the civil services has been debated extensively at all levels at least over the last five to six decades after independence. Indeed, it was soon perceived that the Indian Administrative Service (IAS) may not be well equipped to deal with the problems of an emerging developing coun

The greatest challenge for any government

Shouting vengeance at all and sundry while wriggling out of holes of our own making seems to be our very special national characteristic. Some recent instances are illustrative of this attribute. A number of business tycoons with thousands of crores of unresolved debts have fled abroad with the government

The mysterious case of CBI’s legality

The Central Bureau of Investigation (CBI) came into existence, based on a Resolution of the home ministry, dated April 1, 1963 – a sheer coincidence that it also happens to be April Fool’s day. Over the past few months, we have seen the CBI live up to its founding day with great zeal, being i

The Evolution of Modi

Gujarat was passing through a turbulent phase in the 1980s. The decade began middle class agitations against new reservation policies, and the caste friction turned communal under the watch of chief minister Madhavsinh Solanki, alienating majority of urban population on both counts. The ground was ripe for

Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter