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SSU’s Perspective on Union Budget 2018
Feb 02, 2018
By: Student Contributor, University Blog Team
Union Budget 2018 has been a positive budget for Agricultural and Healthcare sector. There is some good news for both salaried and business people.
There has been no change in the income tax slabs but the Corporate tax has been reduced from 30 percent to 25 percent for companies with turnover up to Rs 250 crore. The Budget has allocated an estimated investment requirement of massive INR 50 lakh crore towards infrastructure sector. An allocation of Rs 3,073 crore was done for Digital India scheme. The government will now explore the usage of Blockchain technology but it will also take steps to prohibit the circulation of cryptocurrencies. On education sector, the budget indicated a merger of several school schemes in the near future.
“A day of Expectations, Reality, Opinions & Impact is here. This is a prudent, well thought out budget which is pro-poor, pro- farmers, pro- women and enhances both ease of doing business and ease of living. It has something for every segment and every sector -agriculture, infrastructure, education, healthcare are all positive beneficiaries. Overall it is a pragmatic and performance oriented budget which continues the foundation for a resurgent India.” President Sri Sri University, Mrs. Rajita Bagga, comments on the positive changes introduced by the budget.
HOD Faculty of Agriculture, Sri Sri University , Dr. Kumaraswamy S, gives his critical view on the agricultural sector, “Agrarian economy has been a robust hidden treasure, which has its own buffering mechanism under dire straight conditions. The national budget seems to be making a stride towards building a sustainable model. While it considers minimum support price for the agri-produce, which is a much-needed approach to help the small to marginal farmers, the corpus allocation to build market systems may have positive implications on a long time scale. However, small-scale technologies promotion mechanism seems to have lost its consideration. Conversely, emphasis on organic farming might promote regenerative agriculture. The initiative of ‘Operation Green’ is a right step forward but funds allocation is minimal considering the agriculture sector is dominant in the country. Overall, there seems to be realisation of the fact that ‘future of Indian economy is in implementing progressive farming plans’ to support the farming community. The budget plan seems to support such an activity in agriculture.”
Head PR, Sri Sri University, Dr. Vijayalakshmi Mohanty feels, “The major take away from 2018 Budget is reinforcing the initiative ‘Maximum Governance and Minimum Government.’ Ease of doing business, boosting FPOs through ‘Operation Greens’, easier approval of Loans to SHGs are some of the appreciable decisions. Augmenting the pedagogical skills of teachers through launching ‘Diksha’ portal promises to improve the Education scenario of the nation.”
Asst. Professor ( Finance & Accounts), Dr. Vijaya Batth feels, this is a wide spectrum budget with many ambitious plans for a digital, developed and modern India. She further expands; “The “Aha” factor of the budget was the medical insurance envisaged for 10 crore families thereby taking care of the much needed health care of citizens. 1 billion trips by air, block chain technology, more medical colleges, solar power and tax benefits to MSME deserves a thumbs up.”