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The Budget just gave millennials more cash to spend. But it left a chilling message for a habit called saving: die.

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Economy

The Budget just gave millennials more cash to spend. But it left a chilling message for a habit called saving: die.

The Budget proposal will increase disposable income of individuals in the INR5 lakh bracket by INR13,000, and millennials will have a major share of this. While this is a positive for India’s consumption story, it will further bring down savings and investments. For India, investment-linked exemptions could set the right tone for future growth.
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8 Feb 2019 6 Mins Read 1 comments
Finance Minister Piyush Goyal waving at the media while arriving at the Parliament to present the 2019 interim budget. Getty Images
Finance Minister Piyush Goyal waving at the media while arriving at the Parliament to present the 2019 interim budget.
Saurabh Tripathi (name changed) didn’t waste a second before taking his brand-new luxury car out for a spin once the showroom formalities were completed. After all, he had set his eyes on her ever since he started working two years ago. For the Mumbai resident, spending INR16 lakh for the car was a necessity. “These are the times when
is more complex since households are a major source of savings. Moreover, India is faced with the constraint of generating huge resources for public investments and social-sector spending. A low tax-GDP ratio compounds the problem. A focus on savings and investments, rather than consumption, could set the right tone for India’s growth story. ( Graphics by Sadhana Saxena)
Saurabh Tripathi (name changed) didn’t waste a second before taking his brand-new luxury car out for a spin once the showroom formalities were completed. After all, he had set his eyes on her ever since he started working two years ago. For the Mumbai resident, spending INR16 lakh for the car was a necessity. “These are the times when is more complex since households are a major source of savings. Moreover, India is faced with the constraint of generating huge resources for public investments and social-sector spending. A low tax-GDP ratio compounds the problem. A focus on savings and investments, rather than consumption, could set the right tone for India’s growth story. ( Graphics by Sadhana Saxena)

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