The New Finance minister of India Nirmala Sitharaman is all set to present her first budget note on Friday. The allies of the Bharatiya Janata Party may ask the government to take some bold actions this time around.
The go-to source to know what this time budget will look like is the manifesto of the party in power in the 2019 elections.
Party’s promise for Interest-free loans for the formers
The backbone of India’s economy is the farmers of this country. The party promised to provide the access to short-term new agriculture loans up to Rs 1 Lakh for 1-5 year through the ‘Kisan Credit Cards but under the condition of timely repayment of the loan take.
For a record, there are around 70 million Kisan Credit Card holders in the country.
The deal to support the entrepreneurs with a Collateral-free credit of 50 Lakh
The entrepreneurship in the country has been encouraged for a long time now. The young men and women across the country can run their businesses tension free if this comes into execution.
The incapability of repaying the loan and the loss of collateral which is a mere of hope of an owner lead to the shutting down of many businesses in the country.
This is expected to be a big boost to young entrepreneurship in India and will be the successor of the Mudra Scheme.
Expansion of Ayushman Bharat to country’s ASHA and Anganwadi workers
The Ayushman Bharat Scheme covers over 500 million people under the poverty line in India. The expansion of the scheme to the Anganwadi and ASHA workers will promote and ensure the good health of the workers.
The comeback of sugar into the Public Distribution System
The sugar will make its way back into the system as promised by the government. The families under the Public Distribution System will be made available for Rs13/kg.
This will help the smacked sugar industry and the consumers because there are around 800 million families under the Public Distribution System. The government is going to buy 2.2 million tons of sugar to serve all these families every year at a price of 78000 crores.
Accident Insurance of 10 Lakh for the traders registered under GST
To drive the traders to register under the GST this is a perfect move from the government. This will boost the revenues of the government and maximize the targets.
Creations of 10,000 framers cooperatives
The sole purpose of strengthening the country’s former cooperatives is to directly market the output of farmers in big cities. This will improve the prices for the farmers and would help in their betterment.