Budget 2021: What Modi govt should do to revive pandemic-hit economy
Tax policies must adapt to changing times to provide buoyancy and enable companies to undertake business in a time-bound and efficient manner
- Jan 27, 2021,
- Updated Jan 29, 2021 2:00 PM IST
Set to be presented on February 1, the government shall announce the Budget 2021 with a view to put in place a system-based governance and address the woes of different sectors of the economy. Through its innovative reform stratagems, the Centre has always tried to ensure that India evolves incessantly and has always been responsive to the needs of the taxpayers. With Budget 2021 just around the corner, it is time again for the government to meet the high expectations of pandemic-struck India.
The SEZ boom is part of a new wave of industrial policies and response to increasing competition for internationally mobile investment. Three out of every four countries have at least one SEZ. Countries like China, Republic of Korea, Ireland, New Zealand and the United States are successful economies in leveraging SEZs to achieve far-reaching economic transformation.
Since SEZs are key contributors of foreign exchange and employment, steps are needed to ensure that SEZs continue to draw investment. For reviving exports and making India competitive, the government should extend the sunset clause under section 10AA of the Income Tax Act for another 5 years.
Set to be presented on February 1, the government shall announce the Budget 2021 with a view to put in place a system-based governance and address the woes of different sectors of the economy. Through its innovative reform stratagems, the Centre has always tried to ensure that India evolves incessantly and has always been responsive to the needs of the taxpayers. With Budget 2021 just around the corner, it is time again for the government to meet the high expectations of pandemic-struck India.
The SEZ boom is part of a new wave of industrial policies and response to increasing competition for internationally mobile investment. Three out of every four countries have at least one SEZ. Countries like China, Republic of Korea, Ireland, New Zealand and the United States are successful economies in leveraging SEZs to achieve far-reaching economic transformation.
Since SEZs are key contributors of foreign exchange and employment, steps are needed to ensure that SEZs continue to draw investment. For reviving exports and making India competitive, the government should extend the sunset clause under section 10AA of the Income Tax Act for another 5 years.