India Budget 2018
The budget has adopted simple strategies to keep the enthusiasm high. It focuses on doing business with much ease and in transparent manner, continued efforts to lower fiscal deficit to achieve lower interest rate scenario and continued thrust on MSME sector by providing easy access to credit.
The government has put in unwavering efforts to reach out to the underserved and provide them with financial services. The financial inclusion is on the right path with an environment of easy financing options.
The government has focused on key social spending like education and healthcare thereby improving the quality of life of lower income group. So in all the budget aims at inclusive growth with its reforms, generate employment and support the bottom of the pyramid entrepreneurs. The plan to revamp the Gold monetization scheme is a welcome move. There is 21,000 tons of gold with the general public. Through this process the idle asset at home will become productive, energizing the economy. This will bring in the household gold into the market. Thus reducing the need for import, and saving on valuable foreign exchange.
George Alexander Muthoot is the MD of Muthoot Finance