This Budget is an excellent vision statement to make India a $5-trillion economy. An intermediate goal has been announced for achieving a $3-trillion economy in this financial year.
Emphasis on infrastructure, micro, small and medium enterprises and Digital India are going to be key sectors for achieving 8 per cent growth. Provisions for affordable housing and a new rental policy, 19.5 million homes in rural areas, education and monetisation of public sector assets will give impetus to job creation and ease of living.
A blueprint for building national grids through Bharat Mala, Sagarmala and highways as well as freight corridors will provide large avenues for investment and fast movement of goods and passenger traffic. Opening various sectors to foreign investment and providing credit to non-banking financial companies from banks will also mean huge liquidity for investment. It is, therefore, a Budget which will provide massive boost to the employment market. But this is a Budget that will also require detailed implementation and close monitoring.