Ignore budget
Annual budgets are about macro-economics
Small business owners should learn to ignore the tamasha around budgets, as government focuses on macro issues such as poverty, deficits and foreign investments. Budget 2020 didn’t focus on reviving private investment and demand, which are key for businesses.
Wirecutter publishes the best product reviews about electronics, home-garden, travel, kitchen and more. It’s recommendation for the airfryer was to buy none. It described how the hype around airfryer doesn’t make it useful. Instead, the good old oven, toaster, grilled (OTG), does a better job. Budget is for economists like Vivek Kaul.
The government is bringing in structural reforms such as less subsidies, no more loan waivers to businesses, tax reforms and infrastructure. In the short and long run the reforms will matter for small businesses.
Economist TCA Srinivasa-Raghavan writes, “If there is one thing that characterises the Narendra Modi government’s Budgets, it’s slow but steady structural reform. It has, for example, stopped giving away tax and bank money. That hurts. Believe me, that hurts.
