Must Read “INDIA in Perspective”—A Vision of New India, Scripted—Union Budget 2018 - The Fearless Indian
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Must Read “INDIA in Perspective”—A Vision of New India, Scripted—Union Budget 2018

  • Fearless Indian
  • February 2, 2018
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     Must Read “INDIA in Perspective”—A Vision of New India, Scripted—Union Budget 2018.

As Swami Vivekananda says, “Take Up One Idea, make that one Idea of your Life, think of it, Dream of it, Live on that idea, Let the Brain, Muscles, Nerves, every part of that Idea, and Just leave every other Idea alone. This is the way to success, that is way great spiritual chants are produced.”.

As I pen down my 1st Article of this Year, I feel very optimistic & Hopeful when I write up about My Analysis/Viewpoints of Union Budget. I would like to say friends this Budget is firstly for Pro-Bharatvasis, mainly catering to Agrarian Distress Engulfed our economy. Yes, indeed it’s a Budget for Kisan, Poor, dealt with Prudent Populism, & A Very Comprehensive analysis focussing on Key areas like- Agriculture, Education, Employment, Small & Medium Enterprises, Women, Senior Citizens. Our Finance Minister Mr. Arun Jaitley presented Union Budget 2018, in Parliament- Narendra Modi Governments final Budget before the 2019 Lok Sabha Elections. Mr. Jaitley’s Budget allocated duly to Rural Infrastructure, & unveiled a health Insurance Programme for around 500 Mn poor.

Let me give you all A Broader Analysis of Union Budget Presented by our honourable Finance Minister Mr. Arun Jaitley

As He presented the Budget, Mr. Jaitley Expressed the fact that “We Pledge to the People of India to give this nation an honest, clean, & Transparent Government. We promised a leadership capable of taking difficult decisions and restoring strong Performance of Indian Economy. We Promised to reduce poverty, expedite infrastructure creation & build a strong, confident & A New India. When our Government took over it was fragile 5, A Nation suffering from policy paralysis & Corruption. We have decisively reversed this. The Government, led By PM Modi, has successfully implemented a series of fundamental structural reforms. With the result, India stands out among the fastest growing economies of the world”. With these words he presented the Budget, Friends as we all know that reforms were undertaken by the Present Government led By PM Modi, gave India a Perspective, towards Ease of Doing Business. As we all know, Corruption, was a common place sometime back, now there is a Paradigm shift now there is an air of Honesty, & a fight for corruption in almost all fields.

Key Highlights—

Budget clearly focusses on Mainly on Agricukture & Rural Economy. Farmers get 15 times the cost of input of input to the farmer. Mr. Jaitley adds that the MSP has been introduced using this formula. This is good news for all agri inputs like, fertilisers, seeds, & Pesticides Companies. There will be Mechanisms which will be put in place to that Farmers receive the Minimum MSP to all Farmers. Recent data from Madhya Pradesh showed that only 40% Farmers benefited in the current Rabi season. Government to increase Government Controlled Market Which will give Farmer the access to MSP Prices. The move will help improve Rural Economy as such, & overall Consumption. Pradhan Mantri Gram Sadak Yojana target reduced from 2022 to 2019, this will bring a cheer to all road developers as lot of Projects announcements likely to see a sharp Increase. Due Impetus give for Promotion of Organic Farming is not really beneficial for fertiliser & Pesticide Companies but seed companies will gain. Most Importantly, A Game changer—”OPERATION GREEN”, launched to improve logistics of tomatoes & Potatoes, with a corpus of Rs.500 Cr. Beneficial for cold storage companies.  We also find Fisheries Farmers to get benefits too, same as the Farmer in terms of Kisan Credit cards. Good for Companies like Avanti Feeds & Water base which specialize in Fisheries Promotion.  Pradhan Mantri Ujjawala Yojana scope increased suggest increased LPG Consumption, Good for company Like Aegis Logistics—One of the largest importers of LPG. There are credits to Agriculture Sector to be Increased to the Farm sector. More Importantly I find tenant cultivators will be included. Huge plus for Rural Economy as nearly 60 % of Farming is done by Tenant Farming. This is the 1st time this budget has announced making tenant Farmers bankable too. Giving them due status as Normal, Farmers would give them all benefits of subsidised inputs & Low-cost Credit. Also Targets of Swachh Bharat, Rural Electricity, & LPG Connections, increased substantially. Higher Education give due focus in the Budget with a special impetus on research taking a big step forward towards shifting the country from a Manufacturing base to a research base.

Higher Education given major Focus in the Budget with a special impetus on research taking a big step forward towards shifting the country from a Manufacturing base to a research base.  Another Historic Policy was announced, is that of NATION HEALTH PROGRAMME- health Insurance increased for poor families. Flagship National Health Programme launched to cover 50 Cr. People. Finance Minister terms it as the world’s largest healthcare policy. We now have MODICARE. One Medical College for every 3 Parliamentary constituencies is a big step that can help Pharmaceutical companies spread their reach, 10 Families for 50 Cr., 5LPer family / Annum. I feel that National Health Care Programme would also mean increasing usage of Generic Products, though it might be a negative for Pharma companies, but higher volume can offset the price Loss. Namami Ganga Programme outlay has been increased, due stress on overall Development plan for Villages & Cities along the Holy river. Another Push for rural Economy. Mudra Yojana Target increased to Rs.3cr. A Positive step for MSME & Job Creation. Railway Capex at Record high at Rs.1.48cr.  18000Km of Line doubling and Transforming entire network to Broad Gauge Further Electrification of the Railway Line & Electrification of the Railway line & Focus on Safety. Good News for Railway related companies.

Key Features—

New Railways New India—We find there has been a Three-fold increase in Capital Expenditure—From 2013-14—Rs. 53,989Cr. 2018-19—Rs.1,48, 528 Cr. We find Capex is higher by 23% than that of 2013-14. Passengers Safety is top Priority. Enhanced stress on Track Infrastructure, Increase in Expenditure on Safety related activities from Rs. 68, 725Cr. In 2017-18, to Rs. 73, 2018-19. Elimination of Unmanned Level crossings on Board Gauge Network, in next two years. Gate Mitras to be deployed interim period. Adequate Funds under Rashtriya Rail Sanrakshkosh (RRSK). Progressive adoption of Train Protection & Warning System. Shift towards LHB Coaches. Enhancing Passenger safety, comfort & Experience- Redevelopment of 600 Major Railway stations, all stations with more than 25,000 Footfalls will have escalators. Wi-Fi at all Railway Stations & Trains. CCTVs & on Trains to enhance Passenger security. Modern Train sets to be introduced. First such train-set to be commissioned during 2018-19.  We also find surge in Revenue Receipts—2017-18—Rs.1,87,425Cr., 2018-19—Rs. 2,01,090Cr. We also find there is increase in Freight Loading—2017-18—1,165MT, 2018-19—1,216 MT. There has been excess of revenue over Expenditure—2017-18—96.0%, 2018-19—92.8%– Target of 85% by 2022, there has been excess of revenue over Expenditure is Rs. 12,990 Cr. Increased Pace of Infrastructure Development. Easing Network Congestion through Doubling of Lines—2017-18—945, 2018-19—2,100, More than two-fold increase in doubling of Lines. Augmenting Goods Movement Using Speed, Skill, & Scale. Increased Focus on Track Renewals for Improving Safety. Environment Friendly & Efficient Railways, 50% Increase in Electrification Projects, there is a Thrust to LOCOS, 63% Increase in Electric Locos from 352 in RE 2017-18 to 573, BE 6,000 in 2018-19. There has been a major Thrust to Suburban Network in Bengaluru—160 Km at an estimated cost of Rs. 17,000 Cr. Is being planned.

Mumbai—150 Km of Additional Suburban Network being Planned at a cost over 40,000 Cr. Including elevated Corridors.

Financing Railway Safety—Rashtriya Rail SurakshaKosh (RRSK) fund was created with a corpus of Rs.1L Cr. To have an outlay of Rs.20,000 Cr.

In BE 2018-19. Bulk of the RRSk Funds of Rs. 11,450 Cr. To be spent on Track Renewals.

Friends I find in this New India Budget, This Budget brings Newer Opportunities for Rs.3L Cr. Under Mudra. Regarding EPF Government to Contribute 12%, of the wages of the new Employees in the EPF for all the Sectors for Next 3Years. National Apprenticeship Scheme with stipend support Launched to give Training to 50L Youth, Tax Rate reduced to 25% for SMES, up to Rs.250 Cr.  Government very soon will also address the stressed areas in NPAs & Accounts of SMEs. What I find in this budget is that for New Infrastructure—Government has allocated Rs.6LCr.,to be constructed in rural areas. Airport capacity to be expanded by more than five times to handle a billion trips a year.  5L Wi-fi, Hotspots to be set up to provide broadband access to Rs.5Cr. Rural Citizens. Standard Deduction of Salaried employee of Rs.40,000. This is lower than the expectation of Increasing the lowest slab from Rs.2.5L to Rs.4L. Another Positive move for Insurance Companies is increasing the limit from Rs.30,000 to Rs.50,000& raising limit in Critical illness. Yes another word LTCG which has been spoken in the budget- has been introduced to 10% for Profit above 10%. Under Education Programme, due impetus has been given to Digital Board in Classroom, than Blackboard. Mobile Phones Manufactured outside India & Imported are going to cost more as Custom Duty on Production has been increased. Equity based Mutual Funds are Now being Taxed. Fin Min. introduces Tax on distributed Income of MFs @ 10%, we find that domestic market helped Mutual Funds, helped market rise in the year 2017.Introduction of “Rise”, for School Infrastructure Programme. We find that under Rural Electrification under Saubhagya Yojana scheme-Rs.16,000 cr. Has been allocated.

Our PM Modi soon after the Budget session addressed the Nation with his Key Takeaways of the Budget—

Due Impetus Given to rural Sector & Empower Farmers through Various  Initiatives.  A Gameschanger initiative is -Operation Green”,  especially for Cold storage for villagers. Another Point he highlighted was that of Farmers Producers Organisation (FPO), which will directly benefit to consumers. Kisan will get Income Tax Exemption. Female Self Help Groups are encouraged in Villages towards Organic, Herbal, Aromatic Industries which will increase in Revenue. He also stressed the fact of introducing Gobar Dhan Yojana, which will help keep villages clean, has been launched to Galvanise Cow dung into organic Products, A source of Green Energy, also which will contribute to Revenue. Our PM Modi also stresses the fact that along with Ease of doing Business also leads to Ease of Living, is essential. To conclude My Analysis I find that this Budget is for Bharatvasis, Pro Poor Budget, Railway Upgradation, and Addressing Key Focus areas in Agriculture, Education & Employment. A Paradigm shift well scripted towards Vibrant, Progressive, Transformed New India, where all the Three Issues concerning Common Man are  Addressed Namely Roti, Kapda, Makaan., Thereby leading to Vikas & Parivartan for all Communities.

Naya Bharat Nayee Umeed

Jai Hind

Dr. Sukanya Iyer

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