Budget empowers India’s next generation to succeed in the digital age
There are many announcements towards continued formalization and digitalization of the economy, which bodes well for the digital future of India.
The Union budget presented by finance minister Nirmala Sitharaman is a well-crafted balance of economic growth and fiscal discipline. The massive increase in the personal income-tax rebate limit—from ₹5 lakh to 7 lakh—will substantially boost consumption-led growth and act as an antidote to the subdued global economic environment. The capital investment outlay has been increased substantially by 33% to ₹10 trillion. This, along with the highest-ever allocation of ₹2.4 trillion to the Railways, will crowd-in more private investment and boost the virtuous cycle of investment and job creation.