FM to hold pre-Budget consultations with stakeholders beginning Monday
PrintListen to this Article
Sitharaman is likely to present her second Budget for the Modi 2.0 government in Parliament on February 1.Sources said the pre-Budget consultations starting Monday will last till December 23.They said the main focus of the Budget this time will be on boosting economic growth, which slowed to an over six-year low of 4.5 per cent in the second quarter of 2019-20.
As per the finance ministry, Sitharaman will meet stakehokder groups of 'New Economy: Start-ups, Fintech and Digital Sector' on Monday morning, and financial sector and capital market representatives later in the day.
Industry sources said the government has sought their views on matters like ease of doing business, regulatory environment impacting private investment, export competitiveness, role of state (delayed payments, contract enforcement), and revival of private investment and growth, among others.The minister is likely to meet industry chambers on December 19.
With the government already effecting significant cut in corporate taxes, expectations are high that it would announce some relief for the salaried class by making changes in the personal income tax structure.Industry bodies have demanded that income up to Rs 5 lakh should be exempt from tax for individual taxpayers from the current Rs 2.5 lakh to spur demand for goods and services.
They are also demanding hiking the overall deduction limit to at least Rs 3 lakh (from the current Rs 1.5 lakh under Section 80C of the Income Tax Act) to boost investments and increase tax savings for individual taxpayers.The finance ministry has already started the Budget preparation exercise, with different ministries and departments making expenditure projections.
The Budget will be keenly watched by market participants for numbers on key macroeconomic indicators like fiscal deficit.#casansaar (Source- PTI)
Category : Budget | Comments : 0 | Hits : 229
“Keeping with the convention, I do not propose to make any changes relating to taxation and propose to retain the same tax rates for direct taxes and indirect taxes including import duties,” said the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, while presenting the Interim Budget 2024-25 in the Parliament today. To ensure continuity in taxation, the Union Finance Minister proposed to extend certain tax benefits to start-ups and investments m...
With the ‘mantra’ of ‘Sabka Saath, Sabka Vikas, and Sabka Vishwas’ and the whole of nation approach of “Sabka Prayas”, the Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Interim Union Budget 2024-25 in Parliament, today. The key highlights of the Budget are as follows: Part A Social Justice Prime Minister to focus on upliftment of four major castes, that is, ‘Gari...
Nirmala Sitharaman participated in the pre-budget halwa ceremony. The traditional 'halwa ceremony', marking the final stage of the preparation process for interim Union Budget 2024, was held this evening at the Union Finance Ministry headquarters at North Block in Delhi. Union Finance Minister Nirmala Sitharaman was seen unwrapping a huge iron wok which had halwa in it and distributing it to the officials of the ministry. Ms Sitharaman was seen stirring the halwa before serving it to ...
India’s economic growth in the current year is estimated to be 9.2 per cent, highest among all large economies. The overall, sharp rebound and recovery of the economy from the adverse effects of the pandemic is reflective of our country’s strong resilience. This was stated by Union Minister for Finance and Corporate Affairs Smt Nirmala Sitharaman while presenting the Union Budget in Parliament today. The Fi...
The Union Budget seeks to complement macro-economic level growth with a focus on micro-economic level all inclusive welfare. The Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman tabled the Union Budget 2022-23 in Parliament today. The key highlights of the budget are as follows: PART A India’s economic growth estimated at 9.2% to be the highest among all large economies. 60 lakh new jobs to be created under the productivity linked ...
Comments