Despite the government not introducing the much-awaited cryptocurrency bill in the Union Budget 2022-23, the union finance minister, Nirmala Sitharaman announced that any income from transfer of virtual digital assets will be taxed at 30 per cent.
With the increase in allocation to Rs 24,000 crore, the quantum of investments and domestic manufacturing capacity envisaged under the PLI scheme would further increase.
While the legal experts have stated that the announcement made by the Union Finance minister, Nirmala Sitharaman of taxing keeping the taxation rate for virtual digital assets at 30 per cent will discourage crypto transactions, the industry players have welcomed the move.
The budget underscores government’s previous emphasis on capex to sustain near-term recovery from the pandemic, while simultaneously paving the way for longer-term restructuring of the economy, Moody's stated.
A policy-level inducement for Made in India products and start-ups directed by women that focus on sustainability and solving women's issues can also drive the idea behind the budget allocation in the 2022-2022 cycle.
From tax breaks to policies that strengthen innovation, India's start-up ecosystem has a slew of suggestions for the government to unleash India's entrepreneurial ambitions.
Union Minister Piyush Goyal has said that the government is looking to ease the compliance burden for the start-up ecosystem in India and is aiming to give the new-age firms more freedom of operation
The fintech sector expects liberalised tax regime, relaxation of norms and expects the FM to announce measures to ease the liquidity flow to non-banking finance corporations (NBFCs) and fintechs.
On the back of a strong quarter, Biocon boss Kiran Mazumdar-Shaw spoke exclusively to Business Today Televison's Aabha Bakaya on the company's growth drivers among biosimilars and what the Union Budget needs to focus on as far as the healthcare sector is concerned.
The gig workers expect the announcement on implementation of social security cover, besides regulatory intervention for deciding minimum wages and documented contracts for the workforce during from the union budget of 2022-23.
Select market watchers believe that the government’s focus will be on economic revival by increasing spending and need-based capital expenditure would be the key agenda.
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