10 I KAMAL SANDESH I 16-31 JULY, 2019
to Wards a 5 trillion dollar economY
- “People’s hearts filled with Aasha (Hope), Vishwas
(Trust), Aakansha (Aspirations)”, says FM. - Indian economy to become a 3 trillion dollar
economy in the current year. - Government aspires to make India a 5 trillion dollar
economy. - “India Inc. are India’s job-creators and nation’s
wealth-creators”, says FM. - Need for investment in:
o Infrastructure.
o Digital economy.
o Job creation in small and medium firms. - Initiatives to be proposed for kick-starting the
virtuous cycle of investments. - Common man’s life changed through MUDRA
loans for ease of doing business. - Measures related to MSMEs:
o Pradhan Mantri Karam Yogi Maandhan Scheme
o Pension benefits to about three crore retail traders
& small shopkeepers with annual turnover less
than Rs. 1.5 crore.
o Enrolment to be kept simple, requiring only
Aadhaar, bank account and a self-declaration.
o Rs. 350 crore allocated for FY 2019-20 for 2%
interest subvention (on fresh or incremental
loans) to all GST-registered MSMEs, under the
Interest Subvention Scheme for MSMEs.
o Payment platform for MSMEs to be created to
enable filing of bills and payment thereof, to
eliminate delays in government payments. - India’s first indigenously developed payment
ecosystem for transport, based on National
Common Mobility Card (NCMC) standards,
launched in March 2019. - Inter-operable transport card runs on RuPay card
and would allow the holders to pay for bus travel,
toll taxes, parking charges, retail shopping. - Massive push given to all forms of physical
connectivity through:
o Pradhan Mantri Gram Sadak Yojana.
o Industrial Corridors, Dedicated Freight Corridors.
o Bhartamala and Sagarmala projects, Jal Marg
Vikas and UDAN Schemes. - State road networks to be developed in second
phase of Bharatmala project. - Navigational capacity of Ganga to be enhanced
BudGet futuRistic, iGnites spiRit
of hope foR india to Be usd 5
tRillion economy: amit shah
Praising the Union Budget as futuristic, BJP National
President and Union Home Minister Shri Amit Shah
said it reflects Prime Minister Shri Narendra Modi’s
vision where farmers prosper, the poor lead a life
of dignity, the middle class gets its due and Indian
enterprise a boost.
Shri Shah said the budget highlights the
“exemplary” work done in key sectors relating to
the economy, housing, infrastructure and the social
sectors over the last five years. It ignites a spirit
of hope that India can become a USD 5 trillion
economy in the coming years, he said.
“The budget presented by Finance Minister Smt.
Nirmala Sitharaman is a futuristic one. It provides a
coherent roadmap for sectors that will drive growth
and innovation among our citizens. The emphasis
on clean energy and cashless transactions are also
steps in the right direction,” he said in a series of
tweets.
It also sets the stage for fulfilling our collective
dreams of water for every citizen, ensuring
electricity connectivity across India and boosting
manufacturing especially in sunrise sectors, Shri
Amit Shah said, adding that the budget will enable
India to become a more vibrant start-up hub.
“The budget for new India clearly reflects PM Shri
Narendra Modi’s vision for India’s development,
where the farmers prosper, poor lead a life of dignity,
the middle class get the due for their hardwork and
Indian enterprise gets a boost. This is truly a budget
of hope and empowerment,” he said.
union BudGet 2019-