Here goes :-
First:-
It is the most CHINA FRIENDLY budget since 2016–2017
Imported components from China, Panels, Small Motors, Lithium Batteries will be having the lowest import duties
This means we can now assemble our own LED TV brands and sell them at competitive prices. Likewise our Smartphone manufacture has just become cheaper. Likewise our Medicine manufacture will become cheaper.
87% of the Imports on which duties have been reduced are imported mainly from China
This is the basic foundation of manufacturing - Lowest cost of production
Sure EVs are more expensive but we want our own market for EVs so makes no sense waiving duties for imported brands
Second:-
The Exemption from ₹ 5 Lakh to ₹ 7 Lakh is a big boon
Don't laugh but people earning ₹ 5–7 Lakh earlier paid an average of ₹ 25,500 a year in taxes, which came to ₹ 2.14 Lakh Crore
This money is now disposable
Nirmala has just added an average of ₹ 2.14 Lakh Crore into the Economy on consumer spending
Yesterday I said the Billionaires should be paying at least ₹ 2.32 Lakh Crore more spending, today the same spending has been achieved from the Middle Class earners between ₹ 5- ₹ 7 lakh
Third:-
Agricultural Credits
₹ 20 Lakh Crore agricultural credits mean if implemented correctly, it could wipe out nearly ₹ 3.51 Lakh Crore of Agricultural Debt in 2023–24 Alone.
Yes then holdings will still be small but if BJP introduces a nice genuine farmers bill then it could be a nice big boon to farmers
Fourth:-
Meanwhile the investment on new courses AI, Drones at student level is another great plus.
That's ₹ 38,000 Crore
A Big plus for India
And that came from fertilizer subsidy so my guess is LOTS OF RUSSIAN ORDERS at 30% discounts
Fifth:-
DEMAND RELATED INFRASTRUCTURE
When Nirmala used the words “India must create a demand for Infrastructure that would make Infrastructure at least 10% GDP by 2025” - I felt like clapping
AT LAST THEY GET IT.
The ₹ 2.40 Lakh Crore in Railways, that's towards freight, urbanization, better routes
That's where the demand is
The word “Identification of 100 Critical Infrastructure Projects that are an economic necessity”
Again Demand
So to me it's a damn good budget
- The Middle class benefit
- The farmers benefit
- The students and teachers benefit
- Industry benefits and manufacturing benefits
- Demand for Infrastructure is spoken of and investment is made to those critical projects
- The Rabble don't actually benefit much
- China - India symbiosis is a real possibility as India assumes manufacturing and lowers component import duties mostly from China just like China did from Taiwan and S Korea in 1998
Unexpected is the only word I would use
This is not an Election Budget unless BJP is going back to the 2014 mode
This is a budget i wanted in 2017–2018 and it should get even better all the way to 2026–2027
India - China - Iran - Russia
That's the Combo and hope thats the future.
Rest of the Budget is the usual stuff
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