The Union Budget of 2018 is said to be an important one owing to many factors. This budget will have a heavy impact on the side of politics and the public policy making and equally in sectors that relate to the ministries of the government.
There are many reasons why this particular budget is given a great hype, but the main two reasons are that this is the first budget to be presented with the reformed tax structure after the independence. The second one is that this budget would be the pre-election budget as the next year 2019 holds the elections for the Prime Minister Candidate. The year of candidate election would be a year of interim budget and a final budget submission as the clash of opinions of the party members would happen after the election results
Why is that the areas relating politics will have major changes?
The areas relating politics will have major changes owing to obvious reasons
- Good image
The good image has to be impressed on the minds of the people before the election could approach this year. Thus, the year has been focused that it would turn out to be middle class friendly and it will, in turn, be more focused on the small-scale industries of the country. These people form the major section of the society that turns up for voting. Therefore, doing good to them would only profit their vote banks.
- Several complaints received
Several complaints were received against the central government of having failed to perform their duties diligently even though the taxes collected were large. Thus, the large amount that has been collected is only put to use as abudget. When the budget money has not been put to use in a right way, there will be only more and more of problems in future.
- Reports by reputed organizations
The reports by most trusted and reputed organizations in the world say that the happiness level of the people residing in the country is less. The country stands in the top 10 list of unemployed youth in the country. These are some of the issues quoted that in turn only hints at the economy stating that the budget has not been put to good use. These reports have bombarded the government,and there are severe pressures to take up these problems seriously and to draft a budget that would solve these problems
Thus, these are some of the reasons why the Union Budget holds great importance this year in the arena of change and development.