In the middle of India's growth concerns, the spotlight shifted to Budget 2019 for a big push towards investment and growth. Some economists believe Finance Minister, Nirmala Sitharaman's first Budget was a prudent one and not a populist one as it restricted itself to the key decisions, while others feel big bang reforms were needed to really kick start the economy.
Budget 2019 has certainly got a mixed response from market experts and economists. Partner and Lead Economist at Deloitte India, Anis Chakravarty said, "Budget is balanced keeping in mind it is the first of the new government. The focus on growth related measures around investments, FDI enhancements in aviation, media and insurance were positive. However, additional cess on petrol and diesel is likely to add to inflationary pressures."
Deven Choksey, managing director of KRChoksey Investment Managers said: "Budget 2019 has provided the roadmap for re-elected NDA government to transform India into a $5 trillion economy in the next 5-7 years. It is consistent with the approach of the NDA government placing thrust on infrastructure led growth in the economy. One Nation, One Grid and Har Ghar Jal are extremely promising reforms which will strengthen the rural infrastructure and in turn provide opportunity for balanced growth with urban India."
With the emphasis on the housing sector and FDI push for India's economy, chief economist at Care Ratings, Madan Sabnavis believes Budget 2019 has been neutral and is sticking to the path that was first projected in the interim budget.
President for Digital Economy Policy Research, Dr Jaijit Bhattacharya feels the use of platforms announced for MSMEs is a positive step as is the lifeline to the NBFCs. However overall budget aims to fix fundamentals of the economy but it doesn't completely address the short term and critical issue of credit squeeze.
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