I’m content with the overall budget and I’d say that this budget is for Indian economy’s future.
‘Budget 2018’ demonstrates the Finance Minister’s intent to boost Indian economy and more focused towards rural development, education, healthcare and social sectors.
There is a bit of disappointment for the common man and for consumers as income tax rates haven’t been reformed. The reintroduction of standard deduction after many years of Rs 40,000 a year may not really enthuse tax payers.
The ‘2018 Budget’ seems good for the FinTech industry, allocation to Digital India scheme doubled to Rs 3073 crore which will focus on digital initiatives and the need for innovative solutions whilst promoting digital economy. Digital economy has been a focal point for this budget
Government’s support with regard to lending to the MSME’s allocated 3794 crore in the form of capital support and interest subsidy by 2022, this will help the MSME sector grow.
In India, the banking outreach to certain segments are still lower. In such a situation, Non-Banking Financial Companies (NBFCs) have come to the rescue of unbanked areas to cater to the funding requirements.