Budget 2019

The government presented the Union Budget today at 11 am.

This year’s budget is an interim one and is expected to be followed by a full one in July 2019.

Piyush Goyal, the interim finance minister, presented the budget, as Arun Jaitley, finance minister is in the US for medical treatment.

Excerpts from the speech:

11:20 AM

Entertainment industry is a major employment generator. To promote entertainment industry – Single window clearance for ease of shooting films, available only to foreigners, is now going to be made available to Indian filmmakers as well. Regulatory provisions will rely more on self-declaration. We will also introduce anti-camcording provisions in the Cinematograph Act to control the menace of piracy.

Concluding Remarks

“This is not merely an Interim Budget, but a medium of the country’s development journey. All the transformation that we are witnessing, is because of the passion of the people of our nation. The credit goes to them only. Development has become a mass-movement during the period of our Government.

We will transform India into a leading nation of the world with the help of our people. We, along with them have laid the foundation. A grand edifice will be erected with their support. We have given a decisive leadership, whose intent is clear, policy is transparent and integrity is resolute.

With this, I commend the Budget to this august House.”

Industry Response

“The Interim Budget 2019 has indeed lived up to the expectations of the common man with an estimated 12 crore farmers, 3 crore taxpayers and 30 crore laborers poised to benefit from the provisions. The pro-growth budget addresses key factors such as lessening GST burden on homebuyers, rural development and providing a boost for SMEs. We are hopeful that this will increase the domestic spending power of organizations, build consumer confidence and provide a boost to our economy as we steer towards a ‘New India’. With the radio industry gearing up for a transformational year with the convergence of media, technology and telecom industries, the government’s vision to further accelerate the Digital India program will help streamline this transition positively. “
Ashit Kukian, CEO, Radio City―BCS Bureau