Feb 1 2018 | India Opportunities
Views of Rajiv Bhalla, Managing Director at Barco Electronic Systems about budget 2018-19
The Union Budget 2018-19 is a balanced budget that I believe will help drive & sustain long-term growth for India. The increased focus on higher infrastructure spends, smart cities, digital India, and healthcare is a step in the right direction. With 99 smart cities being selected and an amount of over Rs. 2 lakh crore being allocated, it will give the nation a significant opportunity to upscale its Infrastructure as a growth driver. In addition, doubling the Digital India budget allocation this year is a step ahead towards becoming a digital-first economy which will assist in reshaping and empowering the country by leveraging technology.
The budget also brings momentum to India’s Healthcare by announcing Rs. 1,200 crore for 1.5 lakh wellness health centers, which is set to bring advancements in the Indian Healthcare sector.
Furthermore, we hope that impact due to the increased customs duties will offset the government’s dedicated push towards promoting manufacturing in India.
All in all, the budget is set to have a transformational impact and give a massive boost to the economy.