Union Budget 2019 is expected to set the tone for the P.M. Narendra Modi Government 2.0 on 5th July by the Finance Minister Nirmala Sitharaman.
The interim budget presented by the Finance Minister Piyush Goyal on 1st February hinted at the continuation of the reforms agenda. The Lok Sabha election, Narendra Modi led government with clear majority to act on the opportunity by accelerating the reforms process.
The budget further is expected to open doors for opportunities to investors in financial market. Also, there is a wide belief that some firm actions to accelerate the economic growth and development will be enjoyed by all strata of the society.
Due to the slowdown in the demands for automobiles, auto ancillary firms are also looking at a lower growth rate; however, since many of them also cater to the after sales market the impact may be somewhat lesser than that of the OEMs.
We expect a higher defence budget allocation to capital acquisitions, particularly higher share for new acquisition programs..+
As the Indian Auto industry is going through one of the longest sales slowdowns, the auto industry has sought a reduction of GST on all vehicles to 18% from the current rate of 28%.+
The farm sector needs structural reforms to boost agricultural growth, but that would take time to have an impact. However, more steps..+
Ayushman Bharat, the flagship scheme of the Modi government is likely to remain a key focus in the government’s second term as well.+
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