Interim Budget 2019 focuses on 3Cs – Correction, Consumption, and Capitalization

Interim Budget 2019 has been a Pro People budget. It focuses on 3Cs i.e. Correction, Consumption, and Capitalization. The government has smartly played its cards to take necessary corrective measures to achieve its target of 5 trillion dollar economy in next 5 years and the fiscal deficit slippages are proposed to be limited to 3.4% of GDP. GST return on 5 crores to be filed in a quarter is a welcome step as the payment cycle with clients is often 2-3 months and monthly return filing was giving additional burden to the small scale business.

The budget provided a consumption boost to farmers and middle-class households.  With the relief given to taxpayers by increasing the tax exemption slab from 2.5 lakhs to 5 lakhs government has pushed the consumption which becomes a driving force within the Indian economy, with the creation of more investment, thereby providing a further boost to economic growth. More income will lead to an increase in the capital.

With an objective of making India a 5 trillion economy, the Budget 2019 aims at building the social and physical infrastructure.

It is an inclusive budget that is focused on strengthening the agricultural and rural economy, healthcare, infrastructure, social inclusion, digital and employment generation in the country.