Budget 2018: Non- agricultural income is the litmus test

There is a promise in the Budget of smoothening out the frictions faced by MSMEs in doing business

The world economy is in better shape this year and, hence, was an opportune moment for presenting what was expected to be an election-year Budget. Much of the economic problems being faced in India at the moment are purely domestic in nature. In addition to the secular decline in private investment, we are having to contend with the adjustment pangs of demonetisation and the crash implementation of the goods and services tax (GST). Both of the latter will have some positive implications in the long-run but the processes are yet to work themselves out. And, in that regard, the Budget