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Jul 05, 2019 10:12 PM IST | Source: Moneycontrol.com
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highlights
The Har Ghar Jal scheme could be Modi’s ticket to 2024
Key takeaways
Analysis of the tax on super-rich individuals
Part 2 of the Speech - Taxation
For India's youth
Measures for Urban India
FM Nirmala Sitharaman begins Budget speech
Budget briefcase trivia 2
Budget briefcase trivia 1
Expect announcements on strategic sale of PSUs
Economic Survey 2019 highlights
Constraining factors
Here’s what to expect
Will these 3 words dominate Budget 2019?
Replication of Interim Budget: HDFC Bank
Watch | Key highlights from Finance Minister Nirmala Sitharaman's Budget speech
Congress leader P Chidambaram's opening statement on the Budget.
The Har Ghar Jal scheme could be Modi’s ticket to 2024
The Har Ghar Jal programme is going to be a challenge like no other. When Modi proposed Swachh Bharat it seemed like a very ambitious one, and, though the government claims to have built 9.6 crore toilets and that 95 per cent of cities are open defecation free (ODF), in its true sense there is a long way to go before India can be declared ODF.
This is because infrastructure is only one part of the problem. Behavioural changes need to follow and it takes time for the wheel to turn.
Water supply is an altogether different ballgame.
Click here to read more.
The Budget unveiled by the first full-time woman Finance Minister of India reminded me of a recent quote of Joseph Stiglitz from his article on progressive capitalism.
Stiglitz has said: “Reversing the malaise (of neoliberal policies) requires that we figure out what went wrong and chart a new course forward, by embracing progressive capitalism, which, while acknowledging the virtues of the market, also recognises its limitations and ensures that the economy works for the benefit of everyone.”
Nirmala Sitharaman’s Budget has been a step in this direction.
Rupa Rege Nitsure, Group Chief Economist, L&T Financial Services shares her thoughts on the Union Budget in A prudent and progressive Budget: FM steps up to the challenge
Biocon managing director Kiran Mazumdar Shaw gave full marks to the finance minister for the Budget that was presented on July 5. Read more: Budget is holistic, say tech industry leaders
Ayushman Bharat, launched in 2018, provides health insurance cover to almost 40 percent of India’s population, benefitting 100 million families which aims to provide a coverage of Rs 5 lakh per family annually. Read more: Ayushman Bharat gets Rs 6400 crore in 2019-20
It is estimated that 45,000 international students study in higher education institutes across India. The Budget proposal is expected to give a boost to these numbers, with a likely thrust on education infrastructure and focus on research will attract more number of foreign students to India. Read more: ‘Study in India’ will be promoted through a mix of easier entry, better facilities
“The Finance Minister’s maiden Union Budget is growth focussed and builds on the foundation that the government created in the last term. The sops announced in the affordable housing segment is a welcome move not just for home seekers but also for builders, banks and HFCs. The focus on infrastructure, entrepreneurs, small businessmen and medium sized companies through the various announcements is positive news for the economy. The Finance Ministry’s move to discourage cash payments will help expand the digital payment ecosystem bringing in more consumer convenience and accountability.” Chandra Shekhar Ghosh, MD and CEO, Bandhan Bank.
Now, gifts of any kind – namely shares, property, vouchers, cash etc exceeding Rs 50,000 made to anyone apart from the specified relatives or blood relations would be taxed in the hands of the NRI, except if a double taxation treaty prohibits the same.
Read more: Gift tax loophole plugged for NRIs
Markets, however, did not receive the budget very well and most of the sectors ended lower. Read more: Here are how much sectors got from the Budget