Budget 2023: Rejig of tax slabs to be expected in Budget 2023
-The Finance Minister might rejig the tax slabs in the upcoming Union Budget of 2023, which may hint of a gradual movement towards an exemption-less tax regime in future.
-Multiple experts have demanded the inclusion of standard deduction as well as housing loan interest in this new regime.
Budget 2023 Expectations Survey: What the market thinks about divestment target
With the mop-up falling short this year, the Indian government is seen setting a conservative divestment target for fiscal 2024. The Indian government has set a divestment target of Rs 65,000 core for 2022/23. Read the full report here
Briefcase to ‘bahi khata’ to tablet: A short history of Budget presentation
For years, finance ministers in India were photographed walking into parliament with a briefcase before the annual Budget presentation. All that changed in 2019, when Finance Minister Nirmala Sitharaman ditched the Budget briefcase for a bahi khata. Read the full story here
What are the trading opportunities around Union Budget Day?
-Budget Day can be tricky for a trader. It offers opportunities, but with the volatility that can strike during the finance minister’s speech, there is high risk too.
-In an interview with Moneycontrol, veteran trader Manu Bhatia shares how he strategises for Budget Day.
-Markets will not give a very big move a day before the budget because of the uncertainty (of what will unfold). Generally, we will not get a directional move on the previous day and there are no real trading opportunities from an options perspective, he says.
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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
