InvestorQ : What are the major expectations we can have from Nirmala Sitharaman, the new Finance Minister, when she presents the Union Budget on 05th July?
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What are the major expectations we can have from Nirmala Sitharaman, the new Finance Minister, when she presents the Union Budget on 05th July?

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Anamika Sodhani answered.
2 years ago
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It may still be too early to really start calling the likely announcements in the Union Budget but broadly, there could be some very important announcements on the following six lines.

1) You can look forward to a very strong and aggressive agriculture production and agriculture pricing thrust in the budget. Apart from pricing and warehousing, the government will also look at long term measures pertaining to logistics and marketing of agricultural produce.

2) SMEs and MSMEs could get the big boost in this Union Budget. They provide the chunk of jobs to Indians and with unemployment at a 45 year high of 6.1%, there are no two opinions on this front. Small industry and trade will get a big boost in this Union Budget for sure.

3) Taxation could get a fillip on the personal front and the corporate front. When high levels of taxes don’t work, it is better to shift to lower taxes. Cutting taxes is the best way to bring back consumption in a big way.

4) Look forward to a big announcement on oil. The top brass of the NDA is clear that 80% dependence on imported oil is just not done. That has got to change and the only way it will happen is through a long term plan for alternate fuels, increasing capacity and building strategic reserves.

5) Export thrust could be the underlying theme of this Union Budget. India badly needs an export story. This is the right time.

6) Lastly, the budget will also try to be politically correct. So look out for loan waivers, focus on women empowerment, greater focus on primary health and primary education etc. In short it could be a budget with a heart.

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