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Budget 2021 Firstview |
Budget and tax positives for aam:-Welcome move in regard to:- Tax reopening of cases are brought down to 3 from 6. No filing for senior citizens above 75, if income is limited to pension and interest. No double taxation for NRIs. Tax audit level enhanced to 10crs. Relief to trusts with enhanced limits to 5crs. Dispute resolution 100 percent faceless is a thumbs up for transparency. Startup Gains:- Startup investors exemption enhanced to one more year and even increasing tax holiday  by the same tenure. Budget and other areas The boost to infrastructure and capital expenditure will lead to employment opportunities.Construction of highways is a big plus as always. Textile parks will boost the local textile industry and give opportunities to many.Fishing hubs push is a welcome move as well. Solar product duty non enhancement would have been better. But being a growing sector and revenue generation point for goverment ,it seems current decision wastaken.Rationalizing duty on silver and gold, gets a thumbs-up.Central University in leh, benefits to tea workers of assam and wb by allocation of 1000crs is welcome.74 percent for FDI in insurance sector, shows the goverment is open to opening up economy.Health nfrastructure increase is thumbs up as well. Scheme 64,180 crs investment to upgrade Healthcare is good.However,must keep in mind the senior citizens and other sections who somehow have failed to take insurance as of now as well, of any section, to provide a cover as seen in other super developed countries.To involve the section which finds it difficult to avail such benefit in normal scenario will be food for thought.Defence budget increase is required and is a welcome move.
Seeing as is :- To own up to fiscal deficit makes one see how government is acknowledging the situation as is. Resolving npa by bad banks is the right way to tackle the issue.
Overall the budget has a positive outlook with emphasis upon expenditure outlay, opening up the economy and taking care of liabilities /non performing asset.Commitment to transparency is always welcome.Its a budget of growth and hope for new india.
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