India Budget 2019: Expect this Budget to be growth-oriented, with a special focus on MSMEs – not only through incentives and sops but also through creation of an ecosystem that will enable them to become large in a short span.
Four trends shaped the politics of the middle class over the past four decades. These include reforms and job opportunities, a drastic reduction in central subsidies, Demographic Dividend, and socio-economic activism.
The FM may say that the fundamentals of the Indian economy are still good – and they are – and nothing has changed in the past few days – and it hasn't really, so what spooked the markets and accounts for the biggest intra-day fall ever?
The Budget was never an economic statement of the government in power. But now, it's not even a policy statement. It's become more of a ritualistic philosophical statement in an essentially political document.
Finance Minister Nirmala Sitharaman has to seek solutions to macroeconomic concerns. But these need to be married with problems related to viable farm incomes, stress on the informal sector, largely small and medium businesses, and the struggles of the underprivileged.