Finally, the long wait has come to an end when the Finance Minister (FM) Nirmala Sitharaman who is today recognized as the first female finance minister came forward to present the much awaited Budget 2019.
The Budget 2019 was prepared keeping in mind the need of the people falling in the different categories. It had something for all. The Budget focused on strengthening the weakening growth and bring in more investment in the country in the various sectors.
Finance Minister (FM) Nirmala Sitharaman from the Narendra Modi government is respected as a popular and successful leader. She has already handled the assigned responsibilities earlier and her work in the past tenure has been praiseworthy.
In her statement, she stated that her government planned essential transformations in order to speedup foreign and domestic investment across the sectors. She further said that it is necessary to invest more in digital economy, creation of job opportunities, and infrastructure.
Our PM Narendra Modi has the aim of growing Indian economy to $5 trillion by the end of 2024-25 from the present Indian economy of 2.7 trillion.
According to some economists, the Modi government need to take some strong decisions, bring in the reforms required to improve the economy, and implement some result-oriented plans.
Indian economy is looked at one of the best market for international investment but the expected growth was not achieved. The growth rate was comparatively low. The unemployment rate also rose to 6.1% in the year 2017/2018.
According to the Centre for Monitoring Indian Economy (CMIE), the fresh investments proposals in 2018-19 had a downfall which was 9.5 trillion rupees. It was recorded as the lowest investment proposals in the last 14 years.
Can India achieve the target of $5 trillion economy? The target is indeed not easy but the BJP government is confident enough to implement several plans, encourage heavy investment, well-fare plans, increase exports, and focus on more employment opportunities.
Although land and labour reforms is a challenging task in one of the largest economy India, the ruling Modi government is set to strive to ensure the perfect implementation of the various investment plans.
There are the different types of the reactions coming up from the top industrialist, politicians, economists, and experts on the Budget 2019.
Overall, the reactions were in favour of the Modi government which has given a ray of hope to the people and investors looking for the investment opportunities in the growing economy in India.