PDTV News - India Budget 2022 LIVE Updates: India Inc eyeing big announcements in FM Nirmala Sitharaman's 4th Budget | (News Showcase)

News Network | Mumbai, India FM Nirmala Sitharaman is set to present the Union Budget 2022 on February 1 as people from various walks are pinning hopes on government's decisions and announcements on different sectors. Though, many steps have been taken by the Centre to tackle the economic consequences of the pandemic, big challenges still remain. These challenges are expected to be addressed by the finance minister in her upcoming budget presentation. With Assembly elections in four states and one Union Territory are getting closer, govt could also go for some populist measures while continuing with higher spending to shore up economic recovery. Latest on the Budget The Union budget 2022-23 to be presented by finance minister Nirmala Sitharaman on February 1 will be in paperless form No 'Zero Hour' on 31st January and 1st February No ‘halwa’ ceremony this time around amid Omicron worries Rajya Sabha floor leaders to meet virtually on January 31 Strict Covid-19 protocols will continue in parliament Congress to raise farmers' issue, Chinese aggression, Air India disinvestment Budget expectations Scheme to develop 700 districts as export hubs on the cards. The realty sector is pinning high hopes on Budget to boost market sentiments. Economy may need more hand-holding, fiscal correction can wait, shows a recent report. Budget to aim at boosting growth, achieving fiscal consolidation, says BoB eco research. Real estate sector expects tax relief, industry status from Sitharaman. Experts want Budget to focus on bridging widened inequality in economy and create jobs. PVC producers say leave the import duty on material untouched. Pharma industry wants Budget to announce incentives for conducting R&D. India is likely to boost budget spending on infrastructure. Budget should announce something to encourages entities to build a world-class shipping line, says FIEO. Aluminium Association seeks elimination of coal cess in upcoming Union Budget. Small businesses and MSMEs seek easier access to capital at lower interest rates. Budget and Markets Market watchers believe that despite the higher target divestment for the upcoming financial year in the Union Budget, LIC IPO will be the key for the targets. Though market sees volatility pre and post Budget, net-net, the event hardly leaves any impact in the two-week period Centre is likely to miss the targets of divestment and the strategic stake sales in FY2021-22 Market experts believe disinvestment and privatisation are likely to gain further traction Crypto startups seeking clarity over issues like taxation, legislation, exemptions and regulations Analysts do not see any change in capital gain tax on equity Minds behind Budget 2022 TV SOMANATHAN, Finance Secretary and Secretary, Department of expenditure AJAY SETH, Secretary, department of economic affairs DEBASHISH PANDA, Secretary, Department of Financial Services TARUN BAJAJ, Secretary, Department of Revenue TUHIN KANTA PANDEY, Secretary, Department of Investment & Public Asset Management Expert opinion "Unlike last year when the US Federal Reserve was unleashing a deluge of liquidity in the international banking system, in 2022 the Indian government is drawing up its annual Budget at a time when global financial conditions are not quite so conducive. With the Fed signalling an aggressive rate hike path, the degree of monetary support that the Reserve Bank of India has the room to extend is now constrained and the government may therefore have to rely more on fiscal ammunition to ensure that the country’s growth recovery remains on track. - HDFC Bank’s Chief Economist Abheek Barua "The real estate sector expects the government to address its long-pending ask of industry status and single-window clearance in the upcoming budget. Bagging the industry status will facilitate the realty sector to avail legitimate and easy finances from Banks and financial institutions. - Mohit Goel, MD, Omaxe Ltd "In the run-up to the Budget, it is high time the government takes a close look at the issues concerning the healthcare sector and increase investment. Currently, India spends an abysmally low 1.5%-2% of GDP for health, while the US figures stands at more than 16%, Canada over 10%, and the Scandinavian countries 20%. - Dr Yash Gulati, Padma Shri, Orthopedic Surgeon ___

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PDTV News - India Budget 2022 LIVE Updates: India Inc eyeing big announcements in FM Nirmala Sitharaman's 4th Budget | (News Showcase)

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