The Finance Minister relayed various initiatives on the themes of Aspiration, Development and Compassion to revive the economy holistically. The initiatives addressed issues such as farmer growth, smart cities, sustainable development goals, women and child development to name a few. Speaking about ‘Young India’, the Finance Minister focused on entrepreneurs and technology. AI and IoT have been the centre of many activities and will continue to play a pivotal rule in increasing the potential of businesses across segments. Furthermore, as highlighted continuously throughout the budget, new economy is based on innovation and the youth of India. A digital platform introduced for registration of startups for investment and funding assistance will give further boost to the ‘youngest startup nation’ and induce entrepreneurship skills amongst millennials. To further provide benefits to startups, burden of taxation has been eased on the employees by deferring the tax payment on ESOPs.
These steps will definitely boost the economy at the back of various initiatives, the economy is pegged to grow drastically. These proposals have laid down a clear growth map and will steer the envisioning development of the country.