Friday, March 29, 2024
-Advertisement-
Reimagining Public Sector Analytics
Reimagining Public Sector Analytics
HomeNewsIndustry'Budget 2021 is more of infrastructure, healthcare and disinvestment budget'

‘Budget 2021 is more of infrastructure, healthcare and disinvestment budget’

Follow Tech Observer on Google News
Google News

Fiscal Deficit, Disinvestment, Expenditure & Administrative Reforms were the theme of the budget speech of the Finance Minister, . The last year has been one of the toughest years, especially after the global health crisis which has slowed down and crippled many economies, therefore a growth budget was crucial to build a post-pandemic reformed India.

As expected, according to industry leaders, Union focuses on key areas such as infrastructure, , technology and healthcare, among others. Here are the views of industry leaders on Budget 2020.

Nishant Kohli, Founder, Director and Business Head-Wealth, Mudra Portfolio Managers

Fiscal Deficit, Disinvestment, Expenditure & Administrative Reforms were the theme of the budget commentary earlier today, as announced by the Finance Minister, Nirmala Sitharaman. The last year has been one of the toughest years, especially after the global health crisis which has slowed down and crippled many economies, therefore a growth budget was crucial to build a post-pandemic reformed India.

An enhanced allocation to healthcare expenditure was the need of the hour and a 34% increase in capital expenditure with a sharp focus on rail and road, which will increase the industrial output bringing in the much-needed revival.

2021 budget has been one of the most a very promising and long-awaited step announced for the NRI taxpayer. Many times, a mismatch in taxation periods creates innumerable hassles and inconvenience for NRIs towards claiming the credit in a foreign jurisdiction for tax paid in India. Additionally, even NRIs who have come back to India for good, confront inconvenience with respect to the accrued foreign income earned especially on the corpus created in their Retirement account.

The Finance Minister has proposed that the rules will be notified to address issues related to taxation of income in foreign retirement benefits account. Her statement also highlighted the issue related to tax credit due to mismatch in taxation periods, which will shortly provide major relief to NRI taxpayers.

Jaya Vaidhyanathan, CEO, BCT Digital

2021 budget is more of an Infrastructure and Healthcare budget. Glad to see the stimulus to the economy keeping these spends in its core. Governance is also paid attention to. We would have loved to see some more announcements for the BFSI sector over and above the notable mentions like FDI limit being lifted for the insurance sector.

And interesting to see the conversation happening to see the shadow bad bank. While the Stressed assets are being moved to the asset recovery unit, we still have to wait and watch. It does make sense to take the assets to the specialist to monetize it, but it also has the inherent risk of the bank just moving the bad assets rather than works on preventing the issue of bad loans or prevents NPA's.

So we have to pay attention to its execution. And it is also to be seen who is going to be at the helm of the asset recovery to ensure that execution happens in the right way. There was an emphasis on governance issues, and it goes with the turf of independent directors.

So overall largely infra and healthcare, things have not been shaken up much, and attention is paid to economic recovery, but it is yet to be seen if this is a V share or U shape recovery. Let us hope the budget is executed well.”

Sachin Shah, Managing Director, Avadat Group

The reduction of margin money requirement from 25% to 15% will help us in maintaining liquidity, therefore with low margin money, we can get more money inflow from the banks. Exemption from tax audit limit of 10 Cr will help us in managing our books and keep us away from the hassle of audits. So overall it is a balanced budget.

Get the day's headlines from Tech Observer straight in your inbox

By subscribing you agree to our Privacy Policy, T&C and consent to receive newsletters and other important communications.
Tech Observer Desk
Tech Observer Desk
Tech Observer Desk at TechObserver.in is a team of technology reporters led by a senior editor who brings latest updates and developments from the world of technology.
- Advertisement -
Reimagining Public Sector Analytics
Reimagining Public Sector Analytics
- Advertisement -Veeam
- Advertisement -Reimagining Public Sector Analytics
- Advertisement -ESDS SAP Hana

Subscribe to our Newsletter

83000+ Industry Leaders read it everyday

By subscribing you agree to our Privacy Policy, T&C and consent to receive newsletters and other important communications.
- Advertisement -

How AI power struggle opens up new frontier in global geopolitics

The far-reaching influence AI has on information processing, national security, military operations, the economy, and strategic decision-making is set to reshape the geopolitical landscape and redefine the power dynamics between nations.

RELATED ARTICLES