Repair. Reform. Reap. Union Budget 2019

FOREWORD

As the Modi Government 2.0 sets foot into its new term against the backdrop of a massive public mandate, it was expected to address the baggage of promises that remained unfulfilled in the last term. With expectations such as bailing NBFCs out of their present crisis, reforms in angel taxation provisions, measures to boost infrastructure development, redressal of the concerns of the farming sector, etc. - the anticipation has been at its peak.

Driving the wagon towards a USD 5 Trillion economy, Finance Minister Nirmala Sitharaman, in her maiden Budget focused on bringing about several transformational economic reforms. Reiterating the ten points of the 'Vision for the Decade' as envisaged in the Interim Budget, the tax reforms announced were primarily aimed at stimulating growth and promoting digitization and transparency, while simultaneously simplifying tax administration.