Siddhartha Sanyal, Chief Economist & Head-Research, Bandhan Bank, says there is no urgency on the part of the government or the finance ministry to cut down their projected fiscal deficit or the borrowing number at this moment, possibly they can afford to take a call on that at a later date. But in general, with … Read more
New Delhi: Tax consultancy firm PWC has urged Finance Minister Nirmala Sitharman to extend the beneficial tax regime for new manufacturing companies and introduce a comprehensive tax amnesty scheme for cases related to Customs. Sitharaman is scheduled to present the Union Budget for 2024-25 on July 23. “I think the Make in India is the … Read more
Santanu Sengupta, Chief India Economist, Goldman Sachs, says India’s public debt to GDP at 80% plus is one of the highest among EMs. So though India has had high growth, over a period of time. that debt to GDP number needs to consolidate below 80% and probably get closer to 75%. That is why the … Read more
Automotive dealers body FADA on Friday urged the government to introduce vehicle depreciation benefits for individual taxpayers, saying it will not only expand the taxpayer base but also ignite automobile demand. In its pre-budget wishlist, the Federation of Automobile Dealers Associations (FADA) also asked the finance ministry to reduce corporate tax for LLPs, proprietary, and … Read more
Andrew Holland, CEO, Avendus Capital Public Markets Alternate Strategies LLP, says the market might be held up and we might just have a push higher toward the Budget. Two of the big sectors like IT and banking have seen a strong run in the very short run. Other sectors like FMCG are probably helping to … Read more
The Automotive Tyre Manufacturers’ Association (ATMA) on Tuesday said there is a need to restrict import of waste tyres into India, saying the country is becoming a ‘dumping ground’ for scrap tyres. The import of waste/scrap tyres into India has increased by more than five times since FY20-21, ATMA said in its pre-budget submission to … Read more
Despite growing concerns in the investor community that coalition politics might force Finance Minister Nirmala Sitharaman to relax the fiscal consolidation path and pivot towards welfare spending from capex, global brokerage firm Goldman Sachs is expecting the contrary. “We expect the general government to stick to the announced fiscal deficit target of 5.1% of GDP … Read more
In its pre-budget recommendation, EEPC India has suggested restoring the interest subvention to 3% for the specified 410 tariff lines besides raising the subvention rate to 5% for MSME manufacturers exporting under any tariff line. “Considering the rise in the repo rate from 4.4% to 6.5%, we have requested to restore the interest subvention rate … Read more
The government is likely to review foreign direct investment (FDI) caps for critical sectors like defence, insurance, and plantations, examining processes that could be streamlined for a more efficient investment regime, reported The Times of India. This response aims to address stagnating FDI flows into India, despite the country promoting itself on ‘China Plus One’ … Read more
“The Modi Government has consistently focussed on Infrastructure, Atmnanirbhar Bharat and digitisation which will continue to see higher focus in Budget 2024,” says Sandeep Raina, Executive Vice President- Research, Nuvama Professional Clients Group. In an interview with ETMarkets, Raina said: “We expect some minor volatility in 2H2024; however, it will likely be a stock picker’s … Read more
