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Ahead of Budget 2019, PM Narendra Modi's important meet with economists today: 5 key issues on agenda
Finance Minister Nirmala Sitharaman will present her first budget on July 5.
Ahead of Budget 2019, Prime Minister Narendra Modi will today hold an important meeting with economists. During the meeting, PM Modi will discuss the economy, improving exports, agriculture and health systems with the economists. A strategy to improve the condition of economy, agriculture, exports and health system is likely to be made during the meet.
5 key issues on agenda:
- What steps should be taken to accelerate the economy
- What are the challenges in increasing the growth rate of the agriculture sector?
- What needs to be taken to increase exports
- The strategy to improve the health system
- Improvement in the education system and discussion on new education policy.
- Some important suggestions can be included in the budget.
Finance Minister Nirmala Sitharaman will present her first budget on July 5. She is expected to announce tax relief for the middle class and salaried by raising the Section 80C limit of Rs 1.5 lakh and also the tax exemption limit from current Rs 2.5 lakh to Rs 3 lakh.
According to SBI Research, the upcoming budget is expected to see a plethora of measures to boost the agriculture sector. The current government is committed to double the farmers' income by 2022. To achieve this, SBI said in its recent research report Ecowrap that the government needs to provide an incentive to agri term loans for investment purpose in the upcoming budget. It noted that the capital formation in the agriculture sector has significantly stagnated.
"The objective of doubling farm income by 2022 can be achieved by providing an incentive to agri term loans for investment purpose through an enabling mechanism of either interest subvention or a credit guarantee fund," the report said.
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