The speculations are high as everyone waits for Union Budget with the current third term of Prime Minister Narendra Modi, Modi 3.0, puts Finance Minister Nirmala Sitharaman at the driving seat of economic affairs. This budget becomes quite significant, as it outlines the and paves the way forward for the Government of India’s economic policies and thoughts for the whole year.
In other words, the Union Budget is sort of a financial blueprint of the nation and outlines the way the government shall spend, raise revenues, and conduct the economy. Eventually, it affects every form of life in society, from students to businessmen, farmers to workers.
Under the Modi 3.0 Incumbency and her guidance, the focus is on growth and development. For instance, refreshment of key sectors in the economy/entities like agriculture, healthcare, infrastructure, and manufacturing will get new impetus so that growth is created in these sectors and the standard of living improved for all Indians.
What the new Budget is expected to do is economic recovery measures after the pandemic. It can be done for businesses-the health infrastructure-and to spend the consumers.
Second, there can be reforms towards ease of taxation and making compliances easier to be compiled by people; also, for businesses. Also, there can be greater focus put on increasing investments in education or skill development to shape the workforce for what the future demands.
Essentially, the Union Budget next under Modi 3.0 expertise is going to strike a fine balance between growth push, challenge arrest, and inclusive development. It is time for the government to put on board its commitment toward carving out a stronger and more robust India for all to prosper in.
