Full Budget 2019-20 will focus on rural consumption
Автор: Down To Earth
Загружено: 2019-07-04
Просмотров: 1264
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The full Budget for 2019-20 will be presented by the newly-appointed. Finance Minister Nirmala Sitharaman in Lok Sabha on July 5. Officials from the finance ministry have assured that none of the schemes declared in the interim budget will be changed.
The Budget will focus more on the revival of rural economy. Schemes like PM-KISAN and piped water supply to all households will be the key focus areas. To address high unemployment in the rural sector, the Budget will allocate more funds for rural water and irrigation infrastructure. The food processing industry, with a potential for long-term results, is likely to get a key allocation in the Budget. The Budget will focus more on the Mahatma Gandhi National Rural Employment Guarantee Scheme. It is expected to get an additional 10-12 per cent increase over the interim budget.
The government is compensating the loss in farming sector through these welfare schemes. This is to revive the private consumption in the rural sector which plays a huge role in the economy of India.
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