Union Budget
Budget 2023: Health sector needs eco-system for infra & technological growth, say Experts
As per experts, the healthcare sector needs commercially low capital-intensive projects at district and taluka levels to address large patient volume and access with affordable pricing for quality services. The healthcare industry is eagerly waiting as the experts believe that the government should enhance its budgetary support in increasing healthcare and insurance penetration following the pandemic.
Government calls all-party meeting on Jan 30 on eve of Budget Session
The customary meeting has been convened by Parliamentary Affairs Minister Pralhad Joshi just ahead of the budget session, which begins on January 31. The government is likely to reach out to all the parties, mainly the Congress, Trinamool Congress and other Opposition parties, to seek their cooperation for a smooth functioning of the session.
Infra development, social security for gig workers - few expectations of India Inc from Budget 2023
Indian Direct Selling Industry is one industry that has shown a consistent growth, reaching over USD 2 billion last year. It has grown at a CAGR of 15.7 per cent over the past four years despite the effects of the pandemic. The industry has expectations from the Union Budget 2023 in the form of breakthrough reforms, policy intervention, and focus on youth and entrepreneurship, which will enable it to rank among Global Top 5 markets in coming years.
Insurers hope for tax concessions to underwrite industry's growth
Scrapping or slashing of Goods and Services Tax (GST) on insurance premiums, making pension/annuity proceeds tax-free, and creating a separate category for tax deduction for premium paid are some of the budget wishlist of Indian insurers. The industry players are also expecting the Indian government to introduce the Insurance Laws (Amendment) Bill 2022, which is also expected to lead to the industry's growth.
Union budget likely to continue capex hike to boost investment
With the Centre bullish on economic growth and buoyed by favourable comments by several global agencies like the World Bank and the International Monetary Fund, calling it a resilient economy, it is betting big on public capital expenditure to push the investment cycle and spur India's economic recovery in the post-pandemic period.
Know the architects of Union Budget
Nirmala Sitharaman will be presenting her fourth Union Budget on February 1. She has helmed the Finance Ministry during the two tumultuous years of Coronavirus pandemic and has piloted several economic relief packages, to help tide over the challenges posed by the pandemic.
Realty industry wants tax and policy related relaxations in upcoming Budget
With interest rates rising, a lot depends on Budget 2023 to support and sustain the housing demand. "The government should rationalise GST rates for construction materials like steel, cement and tiles. Additionally, the government should put aside more funds under the stress fund SWAMIH.
Union budget: Long term capital gains tax likely to be rationalised
This tax was discontinued in 2005, but was reintroduced in 2018 in the Union Budget for that fiscal. The Finance Ministry is learnt to be looking at ensuring parity between similar asset classes by rationalising the LTCG tax structure and even revising the base year for computing inflation adjusted capital gains, sources aware of developments said.
Government announces auction of sovereign green bonds in two tranches
"As announced in the Union Budget 2022-23, the government of India, as part of its overall market borrowings, will be issuing Sovereign Green Bonds (SGrBs), for mobilising resources for green infrastructure. The proceeds will be deployed in public sector projects which help in reducing the carbon intensity of the economy," the Finance Ministry said in a statement.
Markets welcome 2023 on a positive note
The absence of global cues, strong macros and expectations of healthy corporate earnings provided the support to domestic equites, said Siddhartha Khemka, its Head - Retail Research. Nifty opened higher and remained in positive territory throughout the day to close with gains of 92 points at 18,197 levels. Majority sectors ended in green.
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