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February

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India budget

4th February 2019

MGI World 2019 India budget

The Minister of Finance, Piyush Goyal, presented the Interim Budget for the financial year 2019-20 on February 1, 2019.

Dubbed as “populist” budget to boost the government’s popularity, ahead of polls that are now just months away, the budget was full of goodies for farmers, the middle class and small-and-medium-sized businesses.

Many called it a balanced budget which will stimulate demand and boost economic growth without subverting the economy.

Sanjeev Kamdar from Kamdar Desai & Patel, MGI member based in Mumbai said “while the budget is muted from an economic and pro-business perspective, it does focus on some of the hard areas of the economy that needed a boost.”

The budget also had the largest ever allocation for science and technology with the development of digital villages and setting up of a national center for artificial intelligence. This is in line with the government’s vision to place India as a modern, technology-driven, high growth and transparent society

Highlights of the budget can be found HERE