Impact of Union Budget in Small Business.

While the total Union Budget was a Poor & Rural pro but we are analyzing the impact of union Budget in Small Business.

On the same day of a budget the Sensex doesn’t show very big heart
and closed with negative results of about 152 points but after that day both consecutive days was showing too good for the business and closed with a growth of 777 & 463 points consecutively. Likewise, the rupee is also showing positive indication and end at a closely seven-week high of 67.54 against dollars.

This Budget announcement has a direct impact on all the lines of SMEs and effects long-term business perspective as there are so many points in favor of the businessman.

Some of the top areas to address in Monday’s Union Budget session by Finance Minister.

Skilling youth unemployment:

It is the vision of the government to empower the youth and making them self -dependent. With the mission to skill one crore youth in the next 3 Years under PM Kaushal Vikas Yojna (PMKVY), there is a huge fund allocated to setup 1500 multi-skill training schools in India. With the PMKVY there will be a number of business generated and unemployed will also get a job.

Taxation :

There is a minor relief of Rs 3000 to those whose income is below Rupees 5lakh in coming financial year. There is also 100% tax deduction available for next 3 years for the start-up companies approved before the financial year jaitley2019. This program will boost the business and a positive environment for the business will develop. FM Mr. Jaitley has also proposed increment in a limit for arresting Service Tax evaders to double with Rs 2 crore; it is a
step for projecting the taxpayer friendly image of the govt.

Stand Up India:

Start up India, stand-up India and make in India is the two
the biggest program of the current govt and there is Rs 500 crore allocated for the start-up India Business with full tax-free income in this current union budget. It will give positive impact to new Business. A total Approval for Business loans under MUDRA allocated to 1, 80,000 crores. All malls and market shops can be open all 7 days a week with long duration per day which will give some employment opportunity.

Infrastructure Development:

Improvement in infrastructures like Highways, their projects, electricity and water other projects Provides many opportunities for Small Industries and business. In This Union, Budget Govt has passed total Rs. 97,000 crore for National and state highways. Also, a Rs 3000 allocated for nuclear Power Generation. All nonfunctional airports will restart with the help of state Govt. As infra play a vital role in the business generation and hence there are some good signs for business in this union budget.

Indian Economic growth:

As there is an economic crisis worldwide and it also affects India. In spite of all this India has managed with a growth rate of about 7.4 % and it is assumed to be about 8% in next year. Regularly falling in the price of crude oil is un doubt helps the Indian economy. Therefore, results in all time high Forex reserves in India. Budget is made to Promote the Business as well as Agriculture and both are the pillars of Indian economic growth.

Small Business Development:

with an aim to boost growth and employment through various Development models there is scope for the SME’s. Govt has also allocated Rupees 25,000crore for the recapitalisation of public sector banks and this bank will give a boom to SME’s. Apart from this, there are many schemes for a rural place where there is the impact on small business development in this budget.

There are so many opportunities for business in this union budget of India. It will give a positive impact on small business as well.