What clearly stands out in this budget is its focus on rural, social and infrastructure sectors. By heavily increasing allocation for various programs focused on these sectors and introducing the new ones, the core issue of generation of rural employment and generation of demand in the economy should get addressed to an extent. There is very little in the budget for Corporate India except some minor benefits for smaller companies on corporate tax. Even not much is worth talking about the individual income tax proposals except for the fact that whatever little has been proposed is focused on benefitting the middle and lower middle segments of the society. While start-ups got a mention in FM’s budget speech, the fine print of benefits outlined for them need to be analyzed keeping in mind whether they will really make any difference on the ground or not.
The author is Mr Anjani Kumar, CEO for SUCCESSWRKS & HRforYOU.