Heena Sharma Blog

Finance Minister Nirmala Sitharaman Friday announced a slew of measures in her maiden Budget 2019-20 speech in the Parliament today. Among key announcement, Sitharaman said the government will launch an inter-opearable ATM-like One Nation One Card for pan-India travel, new rental laws for affordable housing, interest subvention scheme for MSMEs and women. Here's what Finance Minister Nirmala Sitharaman said in her Budget 2019 speech: The recent election which brought us to this august House today, was charged with brimming hope and desire for a bright and stable New India. Like never before, India celebrated its democracy by coming out to vote in large numbers, like never before. Voter turnout was the highest at 67.9%. Every section – young, old, first time voters, voters since the first General Election, women – all turned up to stamp their approval of a performing Government. Through their unambiguous and firm mandate they have reaffirmed “putting the nation first”.

Finance Minister Nirmala Sitharaman on Friday said the time is right to consider increasing minimum public shareholding from 25 per cent to 35 per cent. Presenting her maiden Union Budget, Sitharaman said the government has already written to Sebi regarding the matter. She also said Electronic Fundraising Platform, a social stock exchange, will be set up to list social enterprises and voluntary organisations working for social welfare objectives. Stressing that the government keeps villages, the poor and farmers at centrestage in every programme, she said every single rural family, except those unwilling to take connection, will have an electricity, LPG connection by 2022. She also said time taken to complete construction of houses under Pradhan Mantri Awas Yojana has been cut to 114 days from 314 days in 2015-16 due to use of Direct Benefit Transfer platform and technology. Read More Article Source -> Business Standard

Finance Minister Nirmala Sitharaman on Friday said that the country is well within its capacity to become a $5 dollar economy in the next five years. Budget 2019 highlights: Here are the key takeaways from finance minister Nirmala Sitharaman's maiden Budget speech: From $1.85 trillion in 2014, the economy has reached $2.7 trillion We are well within our capacity to reach $5 trillion in the next few years Economy will grow to become a $3 trillion economy in the current year itself Between 2014 and 2019, we provided a rejuvenated centre-state dynamics, cooperative federalism, GST council and strident commitment to fiscal discipline Several reforms would be undertaken to promote rental housing, current rental laws are archaic as they do not address lessor-lessee relationships fairly Upfront incentives on purchase of electric vehicles, greater emphasis on affordable and eco-friendly public transport Private players to play a significant role in railways One N

Setting a new precedent Union Finance Minister Nirmala Sitharaman on Friday was seen hugging the budget documents wrapped in a red cloth, the traditional 'bahi khaata' way, instead of the leather briefcase that until now her predecessors walked around with. Chief Economic Advisor K. Subramanian said that it was a departure from "slavery of western tradition". The red cloth symbolises the 'bahi khaata' traditionally used in every Indian business set up to maintain accounts. Sitharaman was seen carrying the red cloth wrapped budget papers that was neatly bound with the auspicious yellow and red ribbon. The Lion Capital shone brightly on top of the bahi khaata, as the first-time Finance Minister walked out of the North Block. Traditionally until now all former Finance Ministers have carried their Budget Document in a hardbound leather briefcase that takes after the parallel British custom -- much like many of India's laws and Parliamentary practic

Economic Survey for 2018-19 was tabled in the Lok Sabha on Thursday, a day ahead of the presentation of the Union Budget for 2019-20. The Survey, which is the government’s report card for the year gone by and presents the health of the economy, comes at a time when the economy is slowing and consumption has staggered. As per data released a few days ago, India's GDP growth came in at 5.8 per cent for the January – March quarter, sharply down from 6.6 per cent in the previous quarter, well below forecasts and the slowest in over four years. The revised fiscal glide path, as per the Survey released on Thursday, envisages achieving fiscal deficit of 3 per cent of GDP by FY 2020-21 and central government debt to 40 per cent of GDP by 2024-25. The Survey notes the Medium Term Fiscal Policy Statement presented along with the Union Budget 2018-19 aimed to reach the fiscal deficit target of 3.3 per cent of GDP in 2018-19 BE. Read More Article Source -> Business Standard

The administration on Thursday said "unreasonable motivations" focusing on "overshadow" organizations must be supplanted with organizing new businesses and "baby" firms in high work versatile areas to encourage monetary development and make occupations. As per the Economic Survey 2018-19, postponed by Finance Minister Nirmala Sitharaman in Parliament, arrangements for development of India's MSMEs ought to be re-situated dependent on a company's size and utilization of Aadhaar to maintain a strategic distance from abuse of age-based motivators having a dusk condition of under 10 years. While diminutive people, firms with under 100 specialists regardless of being over 10 years of age, represent the greater part of every single sorted out firm in assembling by number, their commitment to business is just 14 percent and to efficiency is a minor 8 percent, said the Survey. It said work creation in India experiences approaches that cultiva

Financial Survey 2019, postponed in Parliament on Thursday, painted a hopeful image of the Indian economy, anticipating the nation's (GDP) would develop at seven percent in 2019-20, against a five-year low of 6.8 percent the earlier year, with political strength helping a get sought after and speculations. India would need to develop at 8 percent every year to turn into a $5-trillion economy by FY25, the Survey assessed. The estimate is equivalent to the Reserve Bank of India's perusing, which in June brought down its projection by 20 premise focuses from 7.2 percent. A miserable worldwide standpoint produced by US-China exchange strains likewise provoked the national bank to cut loan costs multiple times this year, with the concentrate currently moving to the administration's Budget on Friday for measures to help the economy. The money service said in its yearly Economic Survey report that upside and drawback dangers to development were equally adjusted, with r