One way to analyse #Budget2018 is to not look at in isolation but as a stunningly well planned sequencing of moves, beginning from 2014 budget and culminating in this, the 5th and last full budget of Modi Government. #NewIndiaBudget 1/10
This sequencing, in respect of moves through budget, can be broadly classified into what has been done on the following fronts A) Aspirational Class ; B) Farmers; C) Women; D) Youth; E) Jobs and F) Overall macro economy. #NewIndiaBudget 2/10
A) Aspirational Class: Ensure every family has bank account---->Direct Transfer of Benefits & Subsidies--->Basic life & accidental insurance--->Enable Formal credit without collateral---->Raise standard of living---->Ensure Medical Insurance for whole family. #NewIndiaBudget 3/10
B) Farmers: Fertilizer availability ensured---->soil health improvement---->integrate all mandis into one national market---->Irrigation reach till the last mile----> Farm Insurance to cover any loss ---->Raise farm income to 1.5 times. #NewIndiaBudget 4/10
C) Women: Secure financial future of every girl child---->smoke-free life of dignity for every woman---->incentivise women to stand up as entrepreneurs through collateral free loans---->incentivise employment of women in formal sector through EPF reform. 5/10 #NewIndiaBudget
D) Youth: Expand IITs, IIMs, Medical colleges, NITs---->Skill India ---->Expanded scholarships ambit and accessible for all ---->ATAL Innovation Mission for spurring the innovation culture---->Launch of RUSE---->1000 PM research fellow for high end research. #NewIndiaBudget 6/10
E) Jobs: Mudra to fund every job-givers dream (10 crore+ already funded)--->Make In India (electronics manufacturing just one of many success story)--->GST push formal employment--->5% tax benefit for MSMEs (99% of Indian companies)--->Govt bears EPF expense. #NewIndiaBudget 7/10
F) Macro economy: India No. 01 FDI destination in world---->low inflation---->control fiscal deficit---->GDP growth among highest in world---->ease of Doing Business--->less cash economy--->GST--->High exports---->High growth--->More formal jobs. #NewIndiaBudget 8/10
If we really think through then it is plainly obvious that despite all the noise and drama the Modi govt had a very detailed plan chalked out in 2014 and absolutely nothing made it change course.Result: India from Fragile Five in 2013 to Bright Spot in 2018. #NewIndiaBudget 9/10
As we asses 2018 budget in historical context, remember that it will be this budget that will be remembered for mainstreaming the concept of "Ease of Living' as a goal for governments. A concept not borrowed from abroad but, at this level, invented in India. #NewIndiaBudget 10/10
