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‘Gleam' of the Modi Government's five-year economic agenda soon to be seen

Tuesday - May 28, 2019 11:53 am , Category : WTN SPECIAL
Waiting for the Modi Government's economic decisions
Waiting for the Modi Government's economic decisions

Big decisions can be taken in Modi Government's first full budget and GST council meeting

MAY 28 (WTN) - After a thumping victory in the Lok Sabha Elections, once again the NDA Government is going to be formed under the leadership of the BJP at the Center. Everyone has a lot of expectations from the second term of Modi Government. Talk about Modi's economic policies, in his first term, Prime Minister Modi had taken very tough decisions. Due to decisions like demonetization and GST, the Modi Government had to face criticism many times, but due to tax relief and controlled inflation, the common people also gave support to the Modi Government.

On May 30, Narendra Modi is once again going to take oath as the Prime Minister. In such a scenario, the eyes of everyone look forward to the economic decisions taken by him in the initial months of the Modi Government. It is true that the Modi Government has a thumping majority in the Lok Sabha, but this thumping majority is a challenge for the Modi Government. The challenge is therefore, because the Modi Government will now be pressurized to move forward towards economic reform, but at the same time, the common people should get relief from inflation and tax, it should be the motto.

According to a US report, if the Modi Government has worked on its economic agenda, in the next five years Narendra Modi will open the way for India's economic progress of the next 25 years. Well, what will the Modi Government do in the next five years? The time will witness of this, but in the initial few months, the eyes of all are looked upon on the economic policies of the Modi Government.

First of all, there is a lot of expectations from first full budget of the second term of the Modi Government. The first budget of the Modi Government will prepare a roadmap for the coming time. It is being said that a big glimpse of economic reforms can be seen in the first full budget of the second term of the Modi Government. Experts believe that in the budget, the Modi Government can take stringent economic decisions, but keeping in view the assembly elections in some states, it can also give a lot of support and relief to the general public.

Along with the budget announcement, the Reserve Bank of India's credit policy will be announced next month itself in June. The next meeting of the Reserve Bank's credit policy is on June 6. The market has a lot of expectations about this meeting of the Reserve Bank. It is being said that keeping in view the inflation, the Reserve Bank can take a decision on interest rates. For your information, let you know that the Supreme Court has rejected the Reserve Bank's debt settlement circular, after which it is said that the provision of RBI's credit policy is possible.

After assuming the charge of the new finance minister in the Modi Government, the GST Council meeting may also be held next month. It is being said that the old works remaining in the GST Council meeting can be approved. This time a big decision can be taken in tax rates, while at this time GST Council meeting can include petroleum products in the GST. Let you know that the GST is a dream project of Prime Minister Modi, through which he seems to be successful in implementing one country, one tax formula in the country.

There is a lot of waiting for the report of the Bimal Jalan Committee for the Modi Government. Indeed, the Reserve Bank of India has more than Rs.10 lakh crores of capital. A committee has been set up under the chairmanship of former RBI Governor Bimal Jalan to decide what should be done of this capital. This committee is going to decide whether this capital should be given to the government or kept with the RBI itself. The Modi Government hopes that if the government gets one-third of this capital, then the government will have a huge capital then the government can use this capital to implement its plans.

That is, it is clear that in the coming few months, the policies and decisions of the Modi Government will become clear that in the coming five years, what the economic agenda of the Modi Government for the people. Experts believe that Prime Minister Modi is not going to retreat from taking stringent economic decisions, but with strict economic decisions, he will not be left behind by implementing welfare schemes for the poor and middle-class families.