We need to have a budget which is much more focused on capital investment and infrastructure investment: USISPF CEO
-India is the chair of the G20, India is the fastest growing economy in the world today and there is a global disruption in supply chain. So that means it is an opportunity for India to target at least $ 100 billion FDI in this year itself. So that means we need to have a budget which is much more focused on capital investment and infrastructure investment. So what we are looking for is a budget which is lot more focused on growth for the next 10 years,” Aghi said.
The country has the potential to target $ 100 billion in FDI by 2023: USISPF CEO
-The US-India Strategic Partnership Forum (USISPF) has a few expectations from the Finance Ministry, thus Union Budget. These include the promotion of digital payments, reforms in healthcare and insurance segments, and lastly, some simplification in foreign investments.
-Mukesh Aghi, President & CEO of USISPF, believes that India has a significant opportunity to attract foreign investment in the coming years. He notes that the country has the potential to target $ 100 billion in FDI by 2023 but emphasises the importance of a budget that is “micro-focused” on capex and infrastructure spending in order to achieve this goal.
(CNBC TV-18)
Budget 2023 might lay emphasis on renewable cycling, says Attero Recycling CEO
-Running on a path to low carbon development due to previous budgets, Budget 2023 comes at a time when the country is falling behind on its first green goal. This goal comprised of the installation of 175 gigawatt of renewable capacity by th year 2022.
-Pinning hopes on Union Budget 2023 to push the country into its deepest greens, Nitin Gupta, Co-Founder and CEO of Attero Recycing stated that he expects emphasis on circular economy and renewable power.
-“Given the fact that India has taken a very aggressive target for carbon neutrality and aims to achieve it by 2070, we expect this budget will place a lot of emphasis on carbon technologies or climate change directly or indirectly. So we expect a lot of emphasis on circular economy, renewable power and recycling. We also expect recycling sector to be declared as priority lending sector. There is likely to be an announcement on PLI scheme for Lithium Ion Battery recycling. So those are some of the things that we expect from this budget,” Gupta said.
(CNBC TV18)
CII President hopes for boot in demand through Budget 2023
-Placing its recommendations for the Finance Ministry ahead of the Union Budget, the Confederation of Indian Industry. From the standpoint of economic policy, they stated that the primary emphasis should be laid on revenue augmentation as well as growth strategies.
-Speaking to CNBC-TV18, Sanjiv Bajaj, President of CII expressed that the mood in the market is cautiously optimistic, with a sense of hope that the Budget will consolidate the issues faced by the economy and take it forward.
Union Budget 2023: 5 times finance ministers quoted poets and writers
-Budget speeches in the past have extended up to nearly three hours. On many occasions, finance ministers added colour to them, by including poetry and quotes from famous writers.
-Manmohan Singh quoted iconic French writer Victor Hugo in 1991, while talking about India’s economic potential.
“Victor Hugo once said, “no power on earth can stop an idea whose time has come.” I suggest to this august House that the emergence of India as a major economic power in the world happens to be one such idea,” Singh spoke. “Let the whole world hear it loud and clear. India is now wide awake. We shall prevail. We shall overcome.”
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Union Budget 2023: US industry urges FM to rationalise, simplify direct and indirect taxes in India
-Ahead of the annual budget presentation, an India-centric top US strategic and business advocacy group has urged Union Finance Minister Nirmala Sitharaman to simplify and rationalise direct and indirect taxation system in India, a move it believes would increase the confidence of global investors and yield greater foreign direct investment.
-Direct taxes can be in the form of income tax, capital gains tax or securities transaction tax, while indirect taxes such as GST, Customs Duty or VAT are levied on all end-consumers to buy any goods or services.
Union Budget 2023: Anand Rathi of Anand Rathi Group on PLI
In recent years, the PLI (production linked incentive) programme has been one of the most innovative industrial policies. The measures aim to transform India into a global manufacturing hub that meets both domestic and international demand. Through this programme, the government attempts to compensate Indian producers for higher production costs in certain areas (such as energy, interest rate, transportation and various operating costs).
On the longer term, structural reforms to improve the production process’s efficiency are the solution to the current inefficiencies. In the short to medium term, compensation to producers through the PLI scheme can have a significant positive impact on the Indian manufacturing industry.
Therefore, I anticipate the upcoming federal budget to address how to strengthen the PLI scheme by bringing more industries within the scope of the policy and increasing the scheme’s allocation.
Budget 2023: 10 things to watch out for
There will be heightened expectations from the markets as well as people about plucky policies with focus on raising people’s income levels, enabling greater investment in infrastructure to generate jobs and boost farm incomes… Read More
Budget 2023: Sops like hike in standard deduction, rise in cap for Section 80C on the cards
There could be sops that will benefit a larger section of the middle class in Budget 2023. Buoyed by the recent statement of finance minister Nirmala Sitharaman that she too belongs to the middle class and understand the pressures faced by them, experts feel that the last full Union Budget could help the segment as it deals with price rise and job cuts.
The finance ministry is looking into proposals sent by various government departments on specific steps which may be announced in the Budget, benefitting a large section of the middle class, sources said.
Besides tinkering with exemption limit and standard deduction, the finance ministry is also looking at the possibility of increasing limit under 80C which includes investment in life insurance, FD, bonds, housing and PPF, among others.
Payment towards medical insurance premium is also being looked at, sources said, adding, the government may simplify capital gains tax rules to benefit the middle class investors which have started investing in capital markets.
Budget 2023: Build new cities, it is what our future demands of the present
By 2051, India may have an additional 335 million urban population. Several new cities will be needed to settle them, writes TK Arun.
He notes that India needs more than a pat on the back from fiscal-deficit-focused rating agencies and analysts, in order to regain economic vigour in a slowing world. A whole lot more. India needs a new New Deal, and, in the present national and global context, that would mean investing in a large project that creates demand for material and machines produced in India and for lots of labour, both skilled and unskilled, while adding to India’s future productive capacity. Building a new city is a good choice.
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Daily Voice | Five sectors may get most weightage in Budget 2023, says Chairman of Anand Rathi Group
Anand Rathi of Anand Rathi Group anticipates the upcoming Union Budget will address how to strengthen the PLI scheme by bringing more industries within the scope of the policy and increasing the scheme’s allocation.
He hopes that the Budget will emphasise the ecosystem of alternative energy, high-tech industries, infrastructure, digital technology, and the hospitality industry.
In India and around the world, the founder and chairman of Anand Rathi Group believes, the highest inflation rates have passed. He anticipates that inflation rates in 2023 will be lower than what is anticipated.
Unless the growth rate decelerates more than anticipated in 2023, neither the US Federal Reserve, nor the RBI are likely to reduce interest rates, says the Chartered Accountant with over 53 years of diverse experience.
Budget 2023: Budex, the MC Budget Sensitive Index, is here to map the market pulse
We will keep you updated on market expectations from the Budget through the next few days so that you could approach the Budget knowing whether the market is pricing in lofty expectations or going in with pessimism and position your trades accordingly… Read More
