Quote by Ms. Seema Prem, CEO and Co-Founder, FIA Global – “We are hopeful that the government focuses on capturing the lost ground on growth in FY21/22. Increased spending, putting money into the hands of people for reviving demand should be the focus rather than fiscal consolidation. With this budget, a lower corporate tax rate for FY 21-22 would be considerate. This will help MSMEs bear the fallout of reduced business sentiment due to covid and help increase liquidity. Speaking from the investment angle, capital gain taxes and taxes on dividends should be removed to attract investments. Government should define policies for encouraging co-origination between banks/NBFCs/MFIs with Business Correspondents to enable burgeoning credit to MSME sector.”
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Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.