homeeconomy NewsBudget 2023 Expectations updates: Freeze import duties for next five years, says GTRI

Budget 2023 Expectations updates: Freeze import duties for next five years, says GTRI

Budget 2023 Expectations updates: Freeze import duties for next five years, says GTRI
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Summary

Budget 2023 expectations updates: As the countdown to Budget 2023 begins, expectations from what all sectors want from the budget have started to come to the light. Union finance minister Nirmala Sitharaman is set to table the Union Budget for the financial year 2023-24 on February 1. This will be the last full Budget before the next election, thus a greater degree of populism is expected.

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Jan 25, 2023 11:51 PM

Budget to see poll-oriented spending boost: Report

Ahead of the national elections, the last full budget of the Modi government is likely to boost welfare spending with a focus on rural and infra capex, according to a report. However, it may pencil in for a lower fiscal gap at 5.8 percent next fiscal, given the likely reduction in subsidies, even though nominal GDP growth is likely to fall by a third to 10.5 percent, it added. The government is likely to miss the medium-term fiscal roadmap of bringing down the fiscal deficit to 4.5 percent by FY26, given the overall domestic and global slowdown, as per the report by Swiss brokerage UBS.

Jan 25, 2023 11:50 PM
Budget 2023: Government to propose a new digital competition law
Budget 2023: Besides, discussions are going on with respect to amendments to the Insolvency and Bankruptcy Code (IBC) as well as the Companies Act, 2013. The ministry is implementing the Competition Act, IBC and the Companies Act, and amendments to these laws are expected this year.
Budget 2023 Expectations updates: Freeze import duties for next five years, says GTRI
Jan 25, 2023 11:24 PM
Budget 2023 - Awaiting a deeper policy push into green and renewable energy
Budget 2023: The country has an ambitious plan to add 500 GW of non-fossil fuel capacity by 2030. With announcement of the green hydrogen mission, that target just went up by another 125 GW. As the prime mover and the first lever in low carbon transition, the government must do everything to accelerate renewable energy transition.
Budget 2023 Expectations updates: Freeze import duties for next five years, says GTRI
Jan 25, 2023 10:36 PM
Budget 2023 should focus on expanding priority sector lending, removal of non-tariff barriers: UKIBC
The UK-India Business Council (UKIBC) is hopeful that the Indian government will reduce tariffs in alcohol, food and the healthcare sector. This comes as a free trade agreement (FTA) is being drawn between the two countries.
Budget 2023 Expectations updates: Freeze import duties for next five years, says GTRI
Jan 25, 2023 10:06 PM
Budget 2023 | Experts seek more tax relief on savings and fixed deposits
Budget 2023 is just around the corner, and taxpayers across the country are eager to see what the government has in store for them. Here are some of the expectations
Budget 2023 Expectations updates: Freeze import duties for next five years, says GTRI
Jan 25, 2023 9:28 PM
Budget 2023 to be more or less a non-event, says Samir Arora
"India has become attractive for its own reasons and because China has become less attractive," said Samir Arora, Founder and Fund Manager at Helios Capital.
Budget 2023 Expectations updates: Freeze import duties for next five years, says GTRI
Jan 25, 2023 8:58 PM
Budget 2023 | Ease of doing business should be further streamlined to support the growth of startups
With exactly a week to go to the Budget speech on the 1st of February, CNBC-TV18 spoke to Gopal Srinivasan, Chairman & MD at TVS Capital Funds; Rema Subramanian, Co-Founder of Ankur Capital; and Vineet Rai, Founder of Aavishkaar Group on what startups and their investors want from Budget 2023.-
Budget 2023 Expectations updates: Freeze import duties for next five years, says GTRI
Jan 25, 2023 8:20 PM

Pharma, healthcare industry seek simplified regulations, research-based incentives

The government should take measures to promote innovation and R&D while simplifying regulations for the sector in the upcoming Union Budget, as per pharmaceutical industry bodies. Outlining the wishlist for the sector in the upcoming Union Budget, Indian Pharmaceutical Alliance (IPA) Secretary General Sudarshan Jain said the domestic pharma industry is currently around $50 billion in size and aspires to grow to around $130 billion by 2030 and $450 billion by 2047.

Jan 25, 2023 7:40 PM

Budget to continue social welfare spends as poor consuming less, making eco recovery unsustainable: Ind-Ra

Economic recovery has not yet become broadbased and sustainable as only creamier sections are consuming, India Ratings and Research said on Wednesday and added that the FY24 budget is expected to continue with social sector spending. The annual budget for the financial year 2023-24 will be presented in parliament on February 1. Finance Minister Nirmala Sitharaman will focus on making consumption demand resilient, boosting infrastructure and manufacturing capex, skill development and increasing productivity, fiscal consolidation and climate change in the last budget of this government, the agency said.

Jan 25, 2023 7:13 PM
Budget 2023: Who prepares it, how is it made and key details
Budget 2023 will be presented by Finance Minister Nirmala Sitharaman on February 1, 2023. Given that it will be the last full budget before the general elections in 2024, anticipations are high from it. However, before delving further, it’s important to understand what exactly is a Budget and how is it made in India.
Budget 2023 Expectations updates: Freeze import duties for next five years, says GTRI
Jan 25, 2023 6:51 PM
Budget 2023 | Experts want govt to hike NPS contribution to 14% for private sector employees
National Pension System (NPS), operated under National Pension System Trust, is a government-run investment scheme that gives the subscriber the option to set the preferred allocation to different asset classes. Here's what experts want from Budget
Budget 2023 Expectations updates: Freeze import duties for next five years, says GTRI
Jan 25, 2023 6:14 PM

Budget 2023 expectations: 'Capital gain tax ruling affected private investments'

Gautam Sinha, co-founder and CEO, CBREX, "The capital gain tax ruling concerning the sale of unlisted securities introduced in budget 2021 disincentivises private investments, which in turn, adversely impacts the growth of startups. Under the current regime, gains on listed shares are considered long-term if held for 12 months and taxed at 11.96 percent whereas those on unlisted securities are considered long-term if held for 24 months and taxed at 23.92 percent. These factors are heavily stacked against the startup ecosystem."

Jan 25, 2023 5:40 PM

Stock market investors expect balanced budget, focus on job creation, infra spending

Stock market investors are expecting a balanced Budget with a focus on job creation, increased spending on infrastructure, reigning in the deficit, and bringing the economy back on track, experts said on Wednesday. Stock markets have been subdued in the run-up to the Union Budget with BSE's benchmark Sensex is almost flat so far this month. Even the corporate earning season failed to excite the markets, while some indices like IT and bankex have seen some positive movements. The muted performance of the markets could be due to Foreign Portfolio Investors (FPIs) moving funds out of India as they are looking for emerging markets with cheaper valuations. They have taken out over Rs 16,500 crore from domestic equities so far this month.

Jan 25, 2023 5:28 PM

Budget 2023 expectations: 'Give real estate sector industry status'

Ramesh Ranganathan, CEO, K Raheja Corp Homes, said, "Firstly, the real estate sector needs to be given industry status. We expect policies and reforms that will further boost the industry, like tax breaks, single-window clearance, encouragement of home purchase and rationalization of GST for raw materials."

Jan 25, 2023 5:10 PM

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