Finance Minister Arun Jaitley will present the Union Budget in Parliament on Thursday which will be the last budget for NDA government before 2019 polls. Infact it will be the final opportunity for the government to woo voters with slew of sops. This year’s budget session is crucial as it comes after government’s two very big financial decisions – Demonetization and Goods and Services Tax implementation. The whole nation is awaiting the presentation of budget. Lots of hopes are pinned on the budget announcement.
The budget is expected to give direction to Indian economy. Handicapped by the chaotic rollout of goods and service tax (GST) last year and the demonetisation move in late 2016, the Indian economy is expected to post GDP growth of 6.75% in 2017-18-slowest in three years. This has potential to impact the outcome of general election in 2019. Lack of employment generation and crumbling infrastructure is hurting the image of Prime Minister Narendra Modi’s NDA government. There is urgent need for investment in road and rail sectors. Govt should provide support for key road projects, including Bharatmala project, which will connect western and eastern India. Besides improving connectivity it will also generate employment opportunities. The industries will be looking towards tax cut and improving ease of doing business. As it is the last budget before general election naturally the expectations is huge. NDA govt cannot afford to waste this final opportunity to woo the voters.