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Budget has not checked inflation
7/8/2019 12:29:07 AM
Nirmala Sitharaman's maiden budget struck all the right chords by addressing all the pain points of the economy. Big numbers were bandied about to provide for higher investments in infrastructure. There were nods towards addressing the unemployment problem by providing sops to sectors with the highest jobs potential that were badly singed by demonetisation and GST; and dollops of capital for banks and indirect liquidity support to NBFCs. Consider as her gift by increasing the prices of imported Gold and a not her gift by raising the prices of petrol and diesel this may cause inflation in the market. Despite the fact that wages in the Army have tekn a lion's share of the budgetary allocation still the Government has earmarked over Rs.4 lakh crores for the defence sector .After it comes the infrastructure and Prime Minister Modi praised Nirmala Sitharaman for her fine budget speech an d made a reference to the infrastructure. Employees and other tax Payers were awaiting drop in the tax structure but Nirmala thanked them telling the tax payers that the Government needed money for roads an d for electrification of the villages. The incr eased budgetary allocation for the Defence sector will help India "Make in India" which would cut cost of imports. This way missiles, long Range guns, tanks and other sophisticated weapons may be produced locally without paying heavy taxes.. Similarly the Railways have been Private investments are being pushed thanks to the 50 trillion investment required between 2018 and 2030. This way Modi's dream plan of introducing bullet trains can be achieved.. Nirmala said that the Railways need Rs.50 crores between 2018 and 2030 in which may new trains could be started besides covering the old stations with new trains.
Health, Education and other sector have not been neglected. Well allotment of over Rs.4 lakh crores to the defence sector is India's priority and this includes security related expenses. And the need for raising the allocations for the defence sector is the outcome of fear for the attack from Pakistan and China. Under the foreign affairs followed by the NDA Government during the last six years but China and Pakistan have not at all adopted friendly ties with India. But the Budget presented in the Lok Sabha has not removed the fears of inflation in the fruit, pulses, rice and flour and vegetables. And the opposition is worried about the rate of inflation the result of revised prices of petrol, diesel and Gold.
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