THE NATIONAL Democratic Alliance (NDA), headed by a vastly experienced Prime Minister Narendra Modi, will present its first regular Budget of the third term this month.
Finance Minister Nirmala Sitharaman, while presenting the Interim Budget in February, had promised to present the road map for Viksit Bharat (Developed India) in this upcoming one. What is the vision of Viksit Bharat? What fundamental policy framework and programmes will be needed to lay the foundation and road map?
VISION OF VIKSIT BHARAT
India will not become viksit (developed) by becoming the third largest economy if the people of the country don't earn enough to afford a decent living.
The best way to define Viksit Bharat is to adopt the goal of making India a high-income country.
The World Bank classifies a country as high-income if its average per capita income exceeds $13,846 a year. As many as 83 countries are currently in this bracket. Fifty-four countries are in the upper middle-income bracket ($4,466-13,845). India is not in these two categories.
With a per capita income of about $2,500, India is part of the lower middle-income group of 54 countries ($1,136-4,465), along with its South Asian neighbours.
To coincide with 100 years of Independence, we must deliver on the goal of making India a highincome country by 2050 to make it truly viksit. This will also provide a reasonable window of 25 years, across five governments, to realise the vision.
REPURPOSE EXPENDITURES
Expenditure policies in the second term of the Modi government were built around four basic pillars.
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"OFFER MORE SOPS FOR THE NEW TAX REGIME”
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HEALTH BOOST
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TIME TO BE SMART
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CLOTHES MAKETH A MAN
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Triumph of Engineering
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MAKING A MARK
IN A LANDSCAPE DOMINATED BY THE BIG FOUR ACCOUNTING FIRMS, DHRUVA ADVISORS HAS STRUCK IT BIG ON THE BACK OF ITS TAX AND REGULATORY ADVISORY SERVICES, ASSISTING SOME OF THE MARQUEE DEALS OF INDIA INC.
TIME FOR A TAX BREAK?
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