“India joining the big league with $3Trillion economy during the year is heart-warming. With the potential for the next couple of decades in front of us, it is going to be exciting times for all based out of and focused on Bharat”, says Sriram S.
Interim budget stole the limelight on popular front being just before the elections. Hence the scope for more SOPs were limited with challenges to lower tax collections and lower growth issues. With limited options the government did try to send positive signals for reviving business growth and enhance consumer spending.
Good to see focus and thrust on basic needs like water, electricity, clean cooking medium in rural areas. 25% corporate tax for business up to INR 400 Cr is a great relief to all growing entities providing employment. INR 70,000 Cr capital infusion into government owned banks this year to boost credit along with boosting capex on Digital initiatives Pension benefits to INR 3 Cr retail traders and shopkeepers whose annual turnover is upto Rs. 1.5 Cr is a good move.
The MSMEs, an integral part of India’s economy, has witnessed a better allotment of funds. Loans up to INR 1 Cr for GST registered MSMEs on fresh or incremental loans @2% interest will help in growing business at affordable costs. 1.5L deduction on affordable homes and EV should help in boosting domestic real estate sentiments along with promoting green commute.