Rajeev Kumar, vice-chairman of government think-tank NITI Aayog on Saturday said union budget 2019 presented by Nirmala Sitharaman was an unconventional one and finance minister attempted to cover a wide canvas.
According to Kumar, the union budget of 2019 was charting a new trajectory of growth, investment and public-private partnership to attracting private investment, "At the same time, it is talking about new areas like electric vehicles, zero budget farming and several others."
Department of economic affairs secretary SC Garg, said, "We have shifted something close to Rs 60,000-65,000 crore from direct and indirect taxes to disinvestment as well as the non-tax income. With that and the additional revenue mobilisation measures that have been taken in by raising Rs 2 duty including the road cess and putting some additional cess on high net-worth taxpayers, we are expecting about Rs 30,000 crore from that. Taking all these together, the tax targets both on direct and indirect taxes should be reasonably achievable."
Talking about downside risk to growth, Garg said, "11 percent growth should be reasonable. If you take even 7-7.5 percent growth and 4-4.5 percent inflation for the year, 11 percent should be quite reasonable."