Budget 2021: Multiple amendments to change course of indirect taxes
The text of the Finance Bill, 2021 reveals that the cess is dedicated for “purposes of financing the agriculture infrastructure and other development expenditure”. Mukesh Bhutani
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The Finance Minister’s announcements on February 1, 2021 have been large and widespread. There are substantial changes in the text of tax laws which affect all classes of indirect taxes such a GST, Customs and even the no longer commonly applicable Central Excise laws. In this article, we seek to examine the major changes as they affect the industry and common man alike.
Budget 2021 | Three major omissions in the education sector
Budget 2021 fails to prioritise children’s right to education with no additional support for safe reopening of schools and re-enrolment of out-of-school children Ankit Vyas
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The year 2020 saw two historic events in Indian school education. The first was the release of a National Education Policy (NEP) after 34 years. The second was the large scale closure of schools due to COVID-19, affecting 270 million children. Thus, there were expectations that the Budget 2021 would provide financing on both fronts, to make the NEP an implementable plan, and additional resources to prevent dropouts and support safe reopening of schools.
Thrust on infrastructure will boost growth, generate jobs: US chamber of commerce on India s budget
The finance minister has done a remarkable job in presenting a growth-focussed budget during the unprecedented COVID-19 pandemic-hit circumstances, president of the USA India Chamber of Commerce Karun Rishi said, adding that the budget is transparent and has rationalised the off-balance-sheet borrowings and headlined fiscal deficit numbers. PTI
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A Boston-based India-centric chamber of commerce on Monday said the increase in healthcare outlay in the latest annual budget will lead India towards a healthier country and the thrust on infrastructure will boost growth and generate jobs.
Over 50 stocks, excluding PSU banks, can benefit from the Budget announcements
Healthcare, insurance, banking & financials, textile, auto, oil & gas and agriculture among other sectors also seen included in the growth-oriented budget. Sunil Shankar Matkar
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The Union Budget 2021 presented by the Finance Minister Nirmala Sitharaman is really a big game changer in terms of economic revival in India, especially post the COVID-19 damage, experts feel.
The government has estimated fiscal deficit at 6.8 percent of GDP in FY22 and 9.5 percent in FY21. The Budget increased the capital expenditure by 35 percent for FY22 over FY21 to revive the economy, and largely focussed on infrastructure (including roads, railways, National Infrastructure Pipeline, ports, power etc).