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Budget 2014 – path ahead to recovery
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water with increased allocation.Budget. as an annual fiscal exercise of the government serves as a guide to meet the growth trajectories of the nation and to attain inclusive development with redistributive justice. but how the measures in the budget are expected to help these have not been clarified. On a macro level there is concerted push towards infrastructure. the present government wants the young and vibrant India to participate in growth and empower tomorrow through skill and expertise. high inflation and high fiscal deficit. At one end Government aims to reduce fiscal deficit to 4. Promoting Foreign Direct Investment (FDI) in strategic sectors like defense production and insurance will promote more domestic jobs.1% and rein in the unexpected levels of inflation through fiscal consolidation and management and accelerate the growth to 7-8%.5 Lakh from Rs 1 lakh. Rationalizing subsides through merit and overhauling the entire subsidy regime including food and fertilizer in future was also highlighted . The sin tax on cigarettes. investment limit under 80 C in Income tax act has been raised to Rs 1. health. it not only targets to fix the economy by bringing house in order but also makes an departure from the policies of previous government which was based on entitlements and legal rights away from actual outcomes in terms of endowments and employment. It inherited low growth. It is important to remember that resorting to deficit financing and external borrowings only strains the economy in longer run with unmanageable interest payments inducing uncertainty and low investor confidence. Budget 2014 ushers the aims and objectives of the newly formed stable government to put the economy back on track after abysmal performance of low growth in past few years. cigars and other tobacco tax has been increased. Departing from earlier policy where social sector spending in the name of common name through higher outlays year on year severely crippled the economy through populist schemes. this year there is no major change in social sector spending however intent is there to focus on outcomes and asset creation through flagship programmes like MNREGA. education. imagine India as a huge organization where Budget acts as a tool for socio-economic development. the expectations of the nation soared high to fix the ailing economy along with “sabka saath sabka vikas”. The intention of the government is clear. Finance is the life blood of any organization. another major boost up to generate resources is through disinvestment policy and Public Private Partnership(PPP) for major infrastructure projects. Many household goods like electronic gadgets and footwear got cheaper with duty cuts. The desire to meet the aspirations of the people through higher growth and faster decision making has been articulated.5 lakh. The common man got an expected welcome through raise in basic Income exception limit from Rs 2 lakh to Rs 2.

rural infrastructure development. FDI to fill the gaps in critical areas and aiming for a new green revolution in agriculture through technology and optimum utilization of resources taking environment constraints into consideration. However.Arun Sharma & Meenakshi Upadhyay . July 15. Categories Arun Sharma's Blogs (25) Arun Sharma's Videos (3) B School Information (73) CAT/ MBA Preparation Tips (44) Contents (1) . sustainable and continued growth. (Renowned authors of Books for CAT) Click here to know about the online CSAT course(UPSC) by Arun Sharma Sir & Meenakshi Maam. the aim should not be only to ensure growth but to create a conducive environment for opportunities. dedicated Kisan Television. with limited time and challenges ahead only time will tell how government will deliver in critical areas. Already Registered? Sign In Not Yet Registered? Register Free Sign up for access to Free Videos. CAT(Current Affairs. India primarily being an agrarian economy with more that 50% of people dependent on it got real boost through the aid of technology. study material. Pramod Singh. The new Budget is filled with hope and optimism. a mentor and counsellor of students for various competitions i. Posted by Neha Wadhwani Tuesday. (The writer.e. Test Center and Online class with CAT Gurus Arun Sharma and Meenakshi Upadhyay. GD/PI) Click here to attend a Free Demo class by Mindworkzz . PDS the fiscal roadmap. 2014 6:05:00 PM Categories: General Awareness Pramod Singh's Blogs Tweet Previous Post << >> Next Post Comments You must sign in to this site to post comments. channelizing entrepreneurial spirit of young India capitalizing the demographic advantage and widening social security net for common man in India. Civil services. increased agricultural credit. Another major aspect was tax revenues where aim is to widen tax base and revenue through simplification of tax regimes in both direct and indirect tax along with implementation of Goods and Services Tax (GST) in future.

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