Hindustan Surkhiyan Desk: Budget 2019 is going to be the sixth and last budget for the Modi Government for its current term, and being an Interim Budget, it is going to be a limited yet challenging budget ahead of General Elections 2019. The Finance Ministry has a lot of things to delve upon, however, listed below are the 5 key priorities NDA must resolve to soothe tempers nationwide.
1. Agriculture
BJP’s defeat in December 2018 didn’t come as a surprise in three states viz Madhya Pradesh, Rajasthan and Chhattisgarh as farmers were agitated and an anti-incumbency wave was already steadfast. The opposition grabbed opportunity with its populous poll promises like farm loan waivers and fulfilled the same within a week of assuming power. The Finance Ministry may dole out zero percent to extremely low interest loans for farmers to boost agro-lending as well as agriculturist morale, while keeping its fiscal deficit targets intact.
The agrarian sector would be a key priority area for Budget 2019 so as to pitch what NDA plans to end its woes.
2. MSMEs
MSMEs are a key priority for the Modi Government as is evident from its latest catapult launched on e-Commerce giants like Amazon and Flipkart, amongst others. More controls thereby are in the pipeline for these e-retailers which will directly or indirectly help small traders as well as industrialists. Besides, ease of loan disbursal and loan restructuring for MSMEs and exemption on Capital Gains could be cards to strengthen investment and votebank.
Budget 2019: What’s in it for MSMEs?
3. Unemployment
Unemployment has been a burning issue in India since Independence and with states like Telangana following footsteps of Universal Basic Income Scheme wherein an unemployed person gets a minimum amount every month (Rs.3016 in case of Telangana from next financial year), it is important for the Modi Government to put forward a strong stance against unemployment in the country especially rural and far flung areas.
4. GST Reboot
The Finance Ministry is expected to further pitch for easing Goods and Services Tax slab to combat its portrayal as Gabbar Singh Tax by the opposition. A GST restructuring will woo BJPs pet voters – Industrialists and small traders besides the aam aadmi; and give lesser leverage to the opposition for GST rejig if they are voted in.
5. The Common Man
Lastly, the middle class forms a formidable votebank for the NDA, and with bold moves like Demonetization, the Modi-Government has hit its votebank at the wrong place. Modi Government is already on the path of repair having rebooted GST on daily consumption items recently, declaring 10% EWS Reservation quota, besides hinting Income Tax restructuring if voted back to power.
