Budget 2021 LIVE | Pharma sector needs a booster dose; incentives for innovation, tax sops imperative
The pharmaceutical sector has played a pivotal role in recent times while responding to unprecedented health crises. Challenges for the sector ranged from allocating Capex, R&D and manufacturing for COVID-related drugs and managing raw material supply chain particularly those flowing from abroad. Budget 21 has a task cut out to meet both transitional and strategic needs of the sector.
The industry has shown interest in government schemes, but there are several apprehensions given the gestation period, committed investment needed and China’s predatory pricing practices. Hence, the industry would be looking for further incentives in this direction in the upcoming budget. Additionally, the pharma industry would also be looking for incentives for innovations and affordability. Read more here
Budget 2021 LIVE | Moneycontrol Manifesto: Time for Finance Minister to go for broke in Budget 2021
COVID-19 and its spread have left a devastating trail of destruction across the economic landscape, blowing into smithereens the very framework of orthodox fiscal policy planning. The lockdowns and the prolonged restrictions have forced many a company to shut or curtail operations, lowering the government’s tax collections. Gross domestic product (GDP)—the total value of goods and services produced in the country—fell 23.9 percent in April-June 2020, and then again by 7.5 per cent in July-September.
India has now slipped into a technical recession, which takes place when real or inflation-adjusted GDP contracts in two successive quarters. From being toasted as an engine for global growth with the status of the world’s fastest-growing major economy, India’s GDP has fallen for two successive quarters. The bigger question now is: how long will the impact last? Will it last for months or for years, if social distancing measures need to be kept in place for protracted periods?
Expectations are running high on the Budget 2021-22 for “big-bang measures.” The Union Budget may just be the right occasion to be a little more courageous and to press the foot on the accelerator, writes Gaurav Choudhury. Read more here
Union Budget 2021-22 To Be Presented On February 1
The Budget will be presented on Februrary 1 and President Ram Nath Kovind will address a joint sitting of both the Houses of Parliament on January 29.
Budget 2021 LIVE | According to Union Minister of Parliamentary Affairs Pralhad Joshi, the Budget Session will commence from January 29 and the first part of it will conclude on February 15. “In the first part, Budget and President address will be there, necessary bills will be taken and there will be question hour as well as zero hour,” he told ANI.
Budget 2021 LIVE | The Cabinet Committee on Parliamentary Affairs (CCPA) has recommended that the budget session be held from January 29 to February 15. The second part of the budget session will be held from March 8 to April 8.
Budget 2021 LIVE | The Union Budget 2021-2022 will be presented on February 1. According to PTI, the Cabinet Committee on Parliamentary Affairs (CCPA) has said the Budget will be presented on February 1 and President Ram Nath Kovind will address a joint sitting of both the Houses of Parliament on January 29.
Good morning! Welcome to Moneycontrol’s LIVE coverage of the Union Budget 2021. Stay tuned for the latest news, developments and updates on the same.