The corporate tax rate has been reduced to 25% for MSMEs which is highly appreciable as it was the need of the hour.
The Hon’ble Finance Minister has proposed to extend 25% corporate tax rate to companies with revenue up to Rs 250 crore which is inspiring as it was much awaited by all industry stakeholders,.
Rise in custom duty on mobile phones from 15% to 20% will help domestic manufacturers.
Doubling the allocation in food processing from Rs. 715 crore to Rs. 1400 crore would boost food processing; specialized agro processing and financial institutions,.
Cultivation of horticulture crops in clusters will boost production and marketing. Further, Agri-market Development Fund with a corpus of Rs. 20 billion for developing agricultural markets would go a long way to help farmers, .
Rs. 14 lakh crore for enhancing rural livelihood is a great step for the rural development and upliftment in the standards of living of rural population.
In addition, the allocation of Rs. 16,000 crore for electricity connection to poor families is a significant step for the development of rural areas.
Flagship National Healthcare Protection Scheme will have 50 crore beneficiaries. The Centre will give up to Rs. 5 lakh per family per year which will include secondary and tertiary healthcare is a historic step towards the development of inclusive health in India.
Target MUDRA loans for Rs. 3 lakh crore in the next financial year would go a long way to create self employment opportunities in the country.
The allocation of Rs. 7148 crore to textile sector will facilitate growth of tge sector create immense employment opportunities in the coming times.
The increase in infrastructure outlay from Rs. 4.94 lakh crore to almost Rs. 6 lakh crore in FY19 would go a long way to improve infrastructure development in the economy.
The government is committed to 3.3% fiscal deficit for FY19 onwards is encouraging amidst the talks of significant fiscal slippages.
However, long-term capital gains tax of 10% for over Rs 1 lakh investments should have been avoided as economy is moving from physical assets accumulation to financial assets.