Budget 2019: Key takeaways from FM's Budget speech

Departing from a British tradition passed on to India, Finance Minister Nirmala Sitharaman carried a 'bahi khata' (ledger) instead of a briefcase. While presenting her maiden Budget speech in Parliament, Sitharaman expressed confidence that India will become a $3-trillion economy in the current year. Here are the key takeaways from Nirmala Sitharaman's Budget speech, so far

INVESTMENT

- India will ease foreign direct investment restrictions in single-brand retail

- Will open up FDI in aviation, insurance, media and animation sectors

- Important to get retail investors to invest in treasury bills

ECONOMY AND INFRASTRUCTURE

- India will become a $3trn economy in the current fiscal year, and a $5trn economy in the next few years

- India to invest heavily in infrastructure and job creation

- The government will carry out a restructuring of highway building programme to ensure enough capacity is created

- Railway infrastructure will need an investment of $72bln between 2018 and 2030

- India will enter into aircraft financing and leasing activities 

EDUCATION - STUDY IN INDIA

- By concerted efforts, India have now 3 institutions -- two IITs and IISc Bengaluru -- in top 200 institutes in the world

- Govt  will improve the performance of higher learning institutes 

- India has the potential to become the hub of higher education. Govt will strive to invite students globally to study in India

 

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