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budget 2019 UNION BUDGET 2019-20 UNION BUDGET 2019

UNION BUDGET NEWS - 2019

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    PRE BUDGET 2019

    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.

    Economic Survey 2019 Key Points

    • Economy survey pegs GDP growth at 7% for 2019-20, up from 6.85 in the previous fiscal.
    • The survey is also likely to detail reforms road map needed to fulfill Modi’s goal of more than doubling the size of the economy to USD 5 trillion by 2024.
    • The economic survey sees investment rate picking up in FY2020 on higher credit growth and improved demand.
    • Economic survey says lower global growth, increased uncertainty over trade tension may hit exports.
    • GDP growth seen picking up on higher private investment and robust consumption.
    • Slow growth, GST farm schemes to pose challenges on fiscal front.
    • Rural wage growth that had bottomed out, started to rise since mid 2018.
    • The survey said rebound in consumption is tied to a recovery in farm sector growth, which in turn depends on rainfall. The survey says, government policies expected to further lift restrictions on FDI inflows.
    • Oil prices expected to decline in 2019-2020.
    • Downside risks to the Indian economy include weaker exports growth and a spillover of the stress in shadow banking sector to this year.
    • General fiscal deficit seen at 5.8% in FY19 against 6.4% in FY18.
    • Narrowing in bad- loans ratio is seen helping boost the capital expenditure cycle.
    • To become a $5 trillion economy by 2025, India need to sustain a GDP growth rate of 8%.

    INDIA DEFENCE BUDGET

    We expect a higher defence budget allocation to capital acquisitions, particularly higher share for new acquisition programs..

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    AUTO BUDGET

    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%.

    +

    AGRICULTURE BUDGET 2019

    The farm sector needs structural reforms to boost agricultural growth, but that would take time to have an impact. However, more steps..

    +

    HEALTHCARE

    Ayushman Bharat, the flagship scheme of the Modi government is likely to remain a key focus in the government’s second term as well.

    +
    budget Agriculture

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