The Economic Times
English EditionEnglish Editionहिन्दी
| 25 February, 2021, 05:17 AM IST | E-Paper
Search
+

Economic Times | 22 Jan, 2021 | 06.56AM IST

Budget 2021 Updates: FM unlikely to change income tax slabs, claims report

Finance minister Nirmala Sitharaman will on February 1 unveil the budget for the 2021-22 financial year, which begins April 1.

!1 New UpdateClick here for latest updates
06:56 AM

Budget 2021: A Big Bang Divestment Programme?

A massive asset-monetisation drive is one of the options suggested by experts to the government to raise funds for investment in infrastructure. Severaltransactions of strategic divestment and key public offers that began in the current financial year are likely to spill over to the next financial year, giving a lift to disinvestment proceeds. This asset-sale programme, along with the new public sector enterprise policy, will guide the disinvestment policy for FY22.
09:31 PM

Government to focus on loss-making discoms for next 3-4 yrs to achieve '24X7 power for all': Official

The government's spotlight will be on electricity distribution utilities or discoms
These are mostly state-run and cash-strapped due to losses, to achieve the goal of 24X7 power for all
Last year, the govt announced a Rs 90,000 crore liquidity infusion scheme for discoms
Earlier this year, some reports also suggested that the forthcoming Budget may unveil the second phase of the UDAY
07:01 PM

Govt can look to provide tax deduction for employees working from home in the Budget: Pwc India

06:51 PM

Solar industry hopes the Budget will pave way for tariff barriers on imports

“We look forward to clarity on schemes that would attract investment towards capacity creation in the solar PV supply chain in India,” said Sujoy Ghosh, vice president – APAC & India Region at First Solar, a leading US solar panel manufacturer that has been considering setting up a production unit in India.
05:36 PM

NBFCs seek continued liquidity support in upcoming Budget

  • NBFCs expect the govt to provide continued liquidity support
  • By encouraging banks to lend more to the sector
  • Setting up a permanent refinance window and relaxing external commercial borrowing norms
05:09 PM

Lok Sabha Speaker Om Birla inspects the Parliament building premises, ahead of the Budget Session

04:26 PM

Budget 2021: CropLife India demands GST rate cut on agrochemicals and focus on R&D

Industry body CropLife India demanded that the government should reduce GST rate on agrochemicals to 12 per cent in the forthcoming Union Budget
The industry body said slashing the rate of GST will help lower the prices of agrochemicals and benefit farmers.
The current GST rate on agrochemicals is 18 per cent.
03:26 PM

India Inc wants increase in expenditure

India Inc is eyeing a demand push from Budget 2021-22, along with an increased outlay for infrastructure and social sector projects, according to a private survey.
03:09 PM

Simplify tax structures, says expert

Rathin Roy of Overseas Development Institute said the government has urged the government to come up with a medium-term strategy for monetising a plethora of government’s assets. On spending, Roy said the government will do well to understand that the fiscal situation is weak.
02:48 PM

What Apollo Hospitals MD, Sangita Reddy, wants from the Budget

The chief focus for the Budget should be on promotion of social spending in areas like healthcare and education. She advocated income support for those at the bottom of the pyramid and those who suffered the most due to the Covid-19 pandemic. She argued that the need for broadbased support to spur consumer demand is less, stressed the need to enhance allocation to healthcare and education.
02:33 PM

Jewellers want import duties on gold slashed

"Reduced import duty will destroy the illegal gold trade spread across the country which is backed by an international smuggling lobby centered mainly in African countries. To bring in transparency in pricing, the government should set up a committee comprising government officials and members of the jewellers associations which will set the board rate," says Ahammed MP, Chairman, Malabar Gold & Diamonds.
02:10 PM

Government’s aim should be to look at more targeted spending and more, crucially, front-loading of the spending for the financial year...the Budget should create an environment that makes the domestic sector competitive, and put more focus on execution of infrastructure projects.

- Sonal Verma, Managing Director and Chief Economist, Nomura Holdings

01:35 PM

FM may announce changes in corporate taxes s related to business reorganisation within a group as also consequent to mergers and acquisitions during this Budget: ET Bureau

01:13 PM

Sitharaman unlikely to change income tax slabs: CNBC TV 18

12:50 PM

Finance Minister Nirmala Sitharaman must build on recent reforms in labour and education and the government should continue to provide policy as well as financial support for skilling to ensure that the workforce in India is future ready, say HR experts ahead of Union Budget

12:35 PM

Buzz around the upcoming Budget has also added strength to the markets. The Budget could potentially lay the foundation for a long term economic growth path.

- Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Service

12:19 PM

Telcos' Budget wishlist

Telecom companies are seeking a reduction in licence fees, removal of goods and services tax on those fees, spectrum acquisition charges and spectrum usage charges, besides a refund of input tax credits along with tax and custom duty exemption in the upcoming budget
12:06 PM

The government reduced corporate tax to 25 per cent for private limited companies with a turnover of up to Rs 400 crore last year. This benefit should also be extended to all proprietary and partnership firms since most traders in the auto dealership community are in this category

- Federation of Automobile Dealers Associations

11:45 AM

The upcoming 2021 Union Budget should be focused on measures to revive the Indian economy from the pandemic slowdown and boost consumption led demand...The Indian automobile industry is a barometer of the Indian economy and its revival will in turn pull up the economy

- FADA President Vinkesh Gulati

11:18 AM

Budget wishlist of Auto dealers

  • The Federation of Automobile Dealers Associations (FADA) has urged Finance Minister Nirmala Sitharaman to introduce benefits of claiming depreciation on vehicles for income tax-paying individuals and extend the depreciation period for corporates.
  • FADA also said auto dealers should be kept out of annual TCS (tax collected at source) of 0.1 per cent saying it is a huge financial burden on the automobile retail industry.
  • It added that the increase in depreciation rate for all types of vehicles which was valid till March 31, 2020, should also be extended for 2020-21 and it will fuel demand further.
10:55 AM

The government is examining tax issues related to business reorganisation within a group as also consequent to mergers and acquisitions (M&A)... these changes could be announced in the February 1 budget.

10:23 AM

Markets' continue their pre-budget rally, Sensex scales 50,000 mark

09:59 AM

Experts call for Budget to boost technology

With the world in the thick of the digital age, India has a little catching up to do - a process that can be expedited by shrewd policy decisions, supported by financial muscle, a goal that is very much achievable this year, experts feel.
09:37 AM

To make the investment in infrastructure bonds attractive for individuals, govt may allow Rs 20,000 tax break or more over and above Rs 1.5 lakh deduction available to salaried under Section 80C of Income Tax Act for investments made in specified instruments.

09:11 AM

Infra bonds in Budget?

According to IANS, the infra bond proposals are akin to the proposals in Finance Bill 2010 that allowed additional deduction of Rs 20,000 for investment in long-term infrastructure bonds for one year (2011-12), though a higher quantum of deductions may also be considered.
08:47 AM

Finance ministry has received several proposals for re-introduction of infrastructure proposals in the Budget 2021 to provide additional avenue of savings for the salaried class while at the same time help the government mobiles additional funds to channelise public savings into massive infrastructure development investment.

- IANS quoting sources
08:29 AM

The government may consider reintroduction of infrastructure bonds offering tax breaks to individual taxpayers over and above the levels available under current income tax legislation: IANS

07:56 AM

Budget wishlist: Non-banking finance companies expect the government to provide continued liquidity support by encouraging banks to lend more to the sector, setting up a permanent refinance window and relaxing external commercial borrowing norms in the upcoming Budget.

07:31 AM

This budget is important because it will be the first budget after the pandemic, which dragged the economy into contraction mode and has taken more than 1.5 lakh lives so far in India

- IndoStar Capital's CEO and executive vice-chairman R Sridhar

07:08 AM

Budget wishlist: Non-banking finance companies expect the government to provide continued liquidity support by encouraging banks to lend more to the sector, setting up a permanent refinance window and relaxing external commercial borrowing norms in the upcoming Budget.

06:31 AM

The Budget proposals will not only impact the near future but could also potentially shape India's long-term growth trajectory

- Dhruva Advisors CEO Dinesh Kanabar

06:30 AM

Industry expects the Union Budget to include the next set of stimulus measures to spur demand. The Budget must prioritise growth-oriented measures over fiscal considerations. It must focus on employment generation and on putting more money in the hands of consumers – the twin engines that will boost demand and drive growth

- Ficci President Uday Shankar

06:30 AM

Ficci and Dhruva Advisors Suvey Highlights

  • Nearly 40 per cent of the participants feel that 'personal tax relief' should be the key theme of direct tax proposals in this year's budget
  • Nearly 47 per cent of the respondents have mentioned that their biggest ask from the government in respect of direct tax is 'widening of the tax slabs'.
  • An area closely related to demand is employment, and the majority of the survey participants (nearly 75 per cent) supported employment generation for which tax incentives and exemptions should be provided by the government.
  • The other two areas which came up in the list of priorities for seeking tax incentives and exemptions are 'innovation' and 'exports', with 53 per cent of the surveyed companies supporting these.
  • Overwhelming 90 per cent of the survey participants said that enhancing economic activity through greater consumption and investment demand should be the government's focus
06:28 AM

The upcoming Budget must therefore focus on creating demand, encouraging infrastructure spends and increasing outlays for the social sector. These are the top three macro-economic themes, which members of India Inc would like to see in the upcoming Budget,

- Ficci and Dhruva Advisors Survey

06:27 AM

India Inc expects the government to continue with its policy focus on strengthening the manufacturing ecosystem, promoting research and development, and incentivising futuristic technologies in the upcoming Budget, the survey by Ficci and Dhruva Advisors said.

06:27 AM

The upcoming Budget must focus on creating demand, encouraging infrastructure spending and increasing outlays for the social sector, India Inc said in a survey released on Wednesday.

Have something to say? Post your comment

Comments are moderated and will be allowed if they are about the topic and not abusive.

Characters remaining (1500)

The Economic Times