The Union Budget 2018-19 marked the last full budget of the current government before 2019 general elections. The budget is aligned around flagship schemes of the government like Digital India, Make in India, Clean Ganga, Healthcare for underprivileged, among others.

What's unique about Union Budget 2018-19

Fiscal goal post shifts

The plan is to contain fiscal deficit to 3.3% of the GDP for 2018-19. An aggressive fiscal consolidation has been avoided (as suggested in Economic Survey) to give support to the nascent recovery in growth.

Focus on rural, agriculture and infrastructure

Given this is an election-heavy year, higher expenditure allocations have been made to agriculture, healthcare and education sectors. Allocation to both roads and railways has been increased.

First budget post GST implementation

The GST collection is projected to be buoyant in FY 2018-19. The GST Council under the principle of collective federalism is the empowered body to amend GST rates and procedures and the budget ceases to address GST matters other than changes in the law.

Click here to view the Union Budget Webinar 2018-19

Our Union Budget 2018-19

First Impressions

Expert views, Grant Thornton, Vikas Vasal, Budget, Budget 2018, Union Budget 2018, Make in India, Digital India, Tax, Corporate Tax, Indirect Tax, Direct Tax, Suresh Rohira, Riaz Thingna, Vishesh Chandiok, Budget views

Grant Thornton India’s webinar on Union Budget 2018

Grant Thornton India invites you to attend its webinar on the upcoming Union Budget 2018.

Union Budget 2018 expectations

Grant Thornton India shares Union Budget 2018 expectations.