The Union Budget 2016/17 presented on Monday by the Finance Minister is a step ahead from the Start-up India, Stand up India initiative announced earlier this year.
The Budget clearly aims towards promoting entrepreneurship and facilitates growth of the start-up ecosystem in India, which includes the three-year tax holiday for start-ups and the ease of registration process will allow them to complete the task in one day is a welcome move. Further, this will also allow start-ups to not worry about balance sheets and focus towards innovating new products and services. Along with that reduction of long term capital gains from 3 years to 2 years is a positive announcement by the government. It is also great to see government commitment to achieve 100 per cent village electrification by 1st May, 2018. It is a great move to see focused efforts being put towards connecting India, this will also allow rural India access internet in the near future.
The Modi government has shown key focus towards the development and upliftment of rural India and healthcare is one of the key pillars. The Swachh Bharat Abhiyaan, and LPG connection for women in rural homes will help in pushing the agenda of preventive healthcare even further. The fact that quality drugs will be made available by setting up 3,000 stores in rural India along with health insurance of up to Rs 1 lakh per family; top up of Rs. 35,000 for individuals above 60 years indicates that incentives should be made available to every Indian, irrespective of old age or income limitation. The National Dialysis services programme is also a heartening initiative taken up by the government.