Budget 2022 Comes with New Hopes
A growth-oriented budget with boosting manufacturing and building infrastructure. A 35.4% increase in capital expenditure is a step in the right direction. Execution will be key. I look forward to the government launching the next phase of ease of doing business. The use of Kisan drones for crop assessment, digitization of land records, spraying of insecticides and nutrients will give a boost to natural farming. Additionally, the Rs 6,000 crores program to be rolled out for MSMEs over the next 5 years is a very positive move. The move to extend the 15% concessional tax rate for new manufacturing companies to start production till March 31st, 2024 is positive. This is truly the decade of startups and entrepreneurship in the country and an expert committee being set up to suggest measures to help attract investment will go a long way. I hope the government reduces long-term capital gain tax on private equity soon.
by Bala Sarda, CEO & Founder, VAHDAM India