India Budget 2018
Overall, the budget is a socially inclusive one that has laid major emphasis on agriculture, social infrastructure, healthcare, social protection and digital transformation.
The government has taken some measures in this budget towards strengthening the SME and MSME sectors. The Corporate tax rate reduced to 25% for companies with turnover up to Rs 250 crore in the financial year 2016-17, will also majorly boost the micro and small and medium business eco-system. This will augment the ease of starting own businesses while helping existing business also.
In the backdrop of agrarian stress, the budget announced by the government has shown its resolve in continuing to provide resources to rural India. With 2000 crore corpus for Agri-Market Development, support to organic farming, allocation of 10,000 crore to fisheries and animal husbandries related infrastructure; these measures will help in augmenting farmer’s income, improve the quality of farm produce, and employment for the farming community.
[Arvind Mediratta is the MD & CEO of Metro Wholesale, India]