Financial Matter Lawyer Called The Budget Holistic And Wholesome

by Abhinav K. Digital Marketing Expert, Freelance

The Economic Survey of India presented a grim fiscal situation and keeping in consideration all the major factors, the finance minister presented the keenly awaited union budget from the newly elected government. The highlights of this budget are right allocation of the public finances and control over inflation. "The government's aim to curtail fiscal deficit by 4.1 percent in the current fiscal year and bringing it down to 3 percent by year, 2017 is really a right objective to improves country's financial health in the long run. Besides, Mr. Jaitley also announced some structural reforms in the FDI specially in defence and insurance sector. If we talk about individuals then relaxation in taxes will eventually increase their disposable income."- Mr Kislay Pandey - Financial Matter Lawyer, the Supreme Court of India.

To reduce dependency on foreign countries in defence, the government has increased FDI up to 49 percent, it will help in shifting the expensive import to indigenous production and reducing the current account deficit in the long run. Similarly, the more in-flow of FDI in the insurance sector will help the market as well as GDP of the country. Moreover, the scraping of the retrospective taxation is another audacious attempt in terms of macroeconomic growth.

"India will mark a distinct presence in the international market too. As the government is all set to fuel the agriculture with the FDI and in this realm it allotted Rs.5000 crores for short time rural credit refinance fund and Rs. 50 crores for inland fishery and indigenous cattle breeding. Apart from the investments in primary sector, industries too will be able to witness a new energy as Mr. Modi is committed to encourage industries, entrepreneurship and a business centric economic environment."- Mr. Kislay Pandey - Financial Matter Lawyer, the Supreme Court of India.

Infrastructure works as the backbone of an economy, businesses and industrialists are pleased to hear that the government is committed to provide round-the-clock power supply. The budget is very promising for the revamping of Indian cities, the proposed Rs. 7060 crores budget for the development of small smart cities is one of the most interesting feature of the union budget 2014-2015. The government is committed 100 smart cities all over the India. All in all the fiscal budget is ready to meet the market expectations and focus has been given on all the challenges and prospects.