BUDGET AND WAY FORWARD...

“Upbeat, reformist and inclusive” are the three perspectives which every sector is betting and mending on towards the finance minister while out-looking the budgetary speculations; ahead of the ministry putting forth the budget for the coming fiscal.

Striding within the pandemic, the budget should be in sync with the public and the private sector promoting ahead the Project Linked Incentives (PLIs), implementing the nudge policy, regulating the market by bolstering the fiscal expenditure through streamlining them in start-up ecosystem.

Conceiving the global inflammatory scenario, with the banks raising their respective interest rates; the Indian ecosystem should be tolerant enough to face the blaze of demand side repercussions. For this, Indian telcos, DISCOMS and NBFCs are in expectancy of “accommodative stance” by RBI so to save their graphs from hitting the pandemic level yet again.

National Infrastructure Programme, National Education Policy, National Hydrogen Mission, Reforming the MSMEs, Asset Reconstruction Programme, Reforming the IT rules all are indicatives towards self reliance. So the budget of the coming fiscal surely will highlight its objectives on the outset of these programs.

“Phasing down” is what the world agreed for the energy sectors at COP26. The budget, in tandem with making the industrial sector green their approaches; should also consider exemplifying the current status of the available non-renewables and deciphering their usage and sectoral execution.

Data Protection and Surveillance was spotlighted by tabling the data protection bill; looking forward for setting a central regulatory authority while justifying the federal nature; the fiscal budget should explain the vibrancy of finance in this sector while considering the next gen Web3 shortly coming into picture.

“Digital India” has been enhanced through official -promotive cashless transactions and unofficial blockchain backed crypto transactions. The budget should necessarily expound the fiscal allocation and towards the propagation and regulation towards this technology, as India can’t afford to completely ignore this facet of currency considering its growing consumer base.

The health sector is an obvious evident pointer in this fiscal too. This time though , budget should also consider fiscally sorting the allocations for the” covid emergent pathogen” based research and development efforts; while also increasing the rural vaccine reach.

The taxation spectrum is expectant of decreasing the loan rate for home loans, stamp duty in the individual customer base; while collectively expects nothing more than keeping the erstwhile existing tax-slabs.

Overall, while India is looking forward afresh towards the beaming fiscal, “collective and adaptive good” is what an honest tax-payer looks forward too!

Let us know what you feel the budget should include so as to make it more encompassing in nature!