Blog for Stock tips, Equity tips, Commodity tips, Forex tips: Sharetipsinfo.com

IndiGo terms Budget 2022 as 'growth-oriented', expects cut in excise duty on jet fuel

1. February 2022 Sandeep Stock Market Research (0)

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

"Budget 2022-23 appears to be growth-oriented by an increase in the capital outlay of Rs 7.5 lakh crore, fiscal deficit capped at 6.4 per cent and efforts are being made to reduce compliance burdens and improve ease of doing business," IndiGo Whole-Time Director and CEO Ronojoy Dutta said in his Budget reaction.

Budget carrier IndiGo termed the Union Budget 2022-23 as "growth-oriented" while expecting a cut in the excise duty on jet fuel.

"Budget 2022-23 appears to be growth-oriented by an increase in the capital outlay of Rs 7.5 lakh crore, fiscal deficit capped at 6.4 per cent and efforts are being made to reduce compliance burdens and improve ease of doing business," IndiGo Whole-Time Director and CEO Ronojoy Dutta said in his Budget reaction.

"We expect the Budget would enable India to achieve a growth estimate of 9.2 per cent," he said. Welcoming the new incentives of issuing e-passports and the introduction of digital currency, Dutta said the government’s "relentless" focus on the national transportation infrastructure development with the PM Gati Shakti National Master Plan will strengthen the much-needed multimodal connectivity.

Also Read:- Key takeaways from Finance Minister Nirmala Sitharamans Budget speech

Also, besides facilitating the seamless movement of cargo, the plan will reduce logistics costs as well, he added. "Having said that, we were expecting tax concessions to the aviation industry in the forms of cut in ATF (aviation turbine fuel) excise duty and the allocation of concessional finance to airlines to help us come out of the pandemic," Dutta said.

Earlier, Finance Minister Nirmala Sitharaman in her Budget Speech on Tuesday said the PM Gati Shakti National Master Plan is a transformative approach for economic growth and sustainable development and is driven by seven engines including roads, railways, airports, ports, mass transport, waterways and logistics infrastructure.

All seven engines will pull forward the economy in unison, Sitharaman said while presenting the Budget for 2022-23. These engines are supported by the complementary roles of energy transmission, information technology communication, bulk water and sewerage and social infrastructure.

Key takeaways from Finance Minister Nirmala Sitharamans Budget speech

1. February 2022 Sandeep Stock Market Research (0)

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

Key takeaways from Finance Minister Nirmala Sitharamans Budget speech

Budget 2022: 'Tax' most mentioned word in Nirmala Sitharaman's speech - BusinessToday

* 100 PM Gati Shakti terminals to be set up in next three years

* Desh stack e-portal to be launched to promote digital infra

* Govt to pay Rs 2.37 lakh crore towards procurement of wheat and paddy under MSP operations

* Implementation of Ken-Betwa rivers linking with an estimated cost of Rs 44,605 cr to be taken up

* Draft DPRs for 5 river links have been finalized

* Kisan Drones for crop assessment, land records, spraying of insecticides expected to drive a wave of technology in agri sector

* Rs 6,000 crore program to rate MSMEs to be rolled out over 5 years

* Startups will be promoted for Drone Shakti

* 1-Class-1-TV Channel to be implemented to provide supplementary education to children to make up for the loss of formal education due to Covid.

* Hospitality services by small and medium sector yet to bounce back

* Digital university to be set up to provide education; to be built on the hub and spoke model

* Economic recovery benefitting from public investment and capital spending

* PM Gati Shakti for road transport masterplan to be finalized in 2022-23

* 2022-23 has been announced as the International Year of Millets

* Railways will develop new products for small farmers and MSMEs

* Contracts for multi-modal parks at 4 locations to be awarded next fiscal

* ECLGS scheme to be extended till March 2023 and guarantee cover expanded by Rs 50,000 to Rs 5 lakh cr

* 2,000 km of the rail network to be brought under the indigenous world-class technology KAWACH, for safety and capacity augmentation

* 400 new generation Vande Bharat trains with better Energy Efficiency and passenger riding experience to be manufactured in next three years

* Emergency Credit Line Guarantee Scheme (ECLGS) will be extended up to March 2023

* The guaranteed cover will be expanded by Rs 50,000 crores to a total cover of Rs 5 lakh crores

* Issuance of E-passports will be rolled out in 2022-23 to enhance convenience for citizens

* The pandemic has accentuated mental health problems in people of all ages.

* To better the access to quality mental health counseling and care services, a National Tele Mental Health program will be launched

* This will include a network of 23 tele mental health centers of excellence with Nimhans being the nodal center and IIIT Bangalore providing technology support

* PM development initiatives for North East will be implemented for the North Eastern Council. This will enable livelihood activities for youth and women. This scheme is not a substitute for the existing Centre or State schemes.

* 95 percent of 112 aspirational districts have made significant progress in health, infra

* 80 lakh affordable houses will be completed at Rs 44,000 cr under PM Awas Yojna in 2022-23

* A new scheme called PM Development Initiative for North East to be launched

* Villages on the northern border of India will be covered under a new vibrant village program to enhance the development

* 75 digital banks in 75 districts will be set up by scheduled commercial banks to encourage digital payments

* Projects in National Infrastructure Pipeline which pertain to 7 engines will be aligned with PM Gati Shakti Framework

* All post offices to be linked with Core Banking Solution to push financial inclusion

* Next phase of ease of doing business, ease of living to be launched

* Data exchange among all-mode operators to be brought in on unified logistics interface platform to enable efficient movement of goods

* A high-level panel to be set up for urban planning

* E-passport with embedded chip will be rolled out

* Modern building by-laws will be introduced

* 75,000 compliances have been eliminated and 1,486 union laws repealed to make it easier for businesses

* Battery swapping policy to allow EV charging stations for automobiles will be framed

* A completely paperless, e-bill system will be launched by ministries for procurement

* 5 existing academic institutions for urban planning to be designated as Centre for Excellence with endowment fund of Rs 250 cr

* Voluntary exit for corporates to be cut down to 6 months from 2 years

* 2,000 km of rail network to be brought under indigenous technology KAWACH for safety and capacity augmentation

* To reduce indirect costs for suppliers, surety bonds will be acceptable

* Spectrum auction will be conducted to roll out 5G mobile services within 2022-23 by private firms

* 68 percent of capital for defense sector to be earmarked for local industry

* Govt committed to reduce import and promote self-reliance in the defense sector

* Contracts for laying of optical fibre net to all villages under BharatNet to be provided under PPP mode

* Risks of climate change are strongest externalities for the world

* Low carbon development strategy opens up employment opportunity

* Rs 19,500 cr additional allocation for PLI for manufacturing high efficiency solar modules has been made

* 4 pilot projects for coal gasification are to be set up

* Financial support will be provided to farmers to take up agro-forestry

* Outlay for capital expenditure stepped up 35.4 pc to Rs 7.5 lakh crore in FY23

* Economy has shown resilience to come out of pandemic, we need to sustain the level of growth

* Effective capital expenditure will be Rs 10.68 lakh crore, or 4.1 pc of GDP, in 2022-23

* Public investment must take lead to pump prime private investment and support demand

* World-class university to be allowed in GIFT IFSC free from domestic regulation

* Sovereign green bonds to be issued to mobilise resources as part of govts borrowing programme

* International arbitration centre will be set up in GIFT city to provide faster dispute resolution

* Data centre and energy storage system to be given infrastructure status; move to provide easy financing

* PE/VC invested Rs 5.5 lakh crore in startup, expert committee will be set up to suggest measures to help attract investment

* Measures will be taken to step up private capital in infra sector

* Proposed to introduce Digital Rupee by RBI using blockchain technology, starting 2022-23,

* Rs 1 lakh crore financial assistance to states to be provided in 2022-23 to catalyse investments

* In 2022-23, states will be allowed fiscal deficit of up to 4 pc of GSDP

* Fiscal deficit at 6.9 per cent of GDP in 2021-22, 6.4 per cent in 2022-23

* Total expenditure in FY23 estimated at Rs 39.45 lakh cr; total resources mobilisation to be Rs 22.84 lakh cr other than borrowing:

* Govt vows a stable and predictable tax regime

* New provision to allow taxpayers to file an updated return within 2 years from the end of the relevant assessment year

* Alternate minimum tax to be reduced to 15% for cooperative societies

* Propose to increase tax deduction limit to 14% on employers contribution to NPS account of state govt employees

* Tax incentives for startups to be incorporated until March 31, 2023

* Reduce of surcharge of cooperative societies from 12% to 7% for those having income below 1 crore

* Virtual digital assets to be taxed at 30% and 1 % TDS on transfer of virtual digital assets

* GST payed a remarkable reform in Indias GDP

* GST revenues are buoyant despite the pandemic, gross GST collection for month of January are over Rs. 1.4 lakh crore. The highest since the inception of GST

* Taxpayers deserve applause who have diligently contributed to fulfilling their responsibilities in improved tax & GST

* Faceless customs have done exceptional work against all odds and been an enabler in PLI & Ease of Doing Business

* To further electronics manufacturing, duty concessions given for high growth of electronics items

* Customs duty on cut polished diamonds, gems to be reduced to 5%

* No change in the Income Tax Bracket for tax-paying individuals.

Click Here:- Get Stock Market tips @ sharetipsinfo

Budget 2022: US companies look at tax parity, transparency, predictability

1. February 2022 Sandeep Stock Market Research (0)

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

Mukesh Aghi, president, US India Strategic and Partnership Forum (USISPF) said the American companies have high expectations from what Sitharaman would present in her fourth annual budget on Tuesday.

Post-Covid economy will not merely be re-inflation of pre-Covid economy: Economic Survey | Business News,The Indian Express

American companies having a foothold in India and those planning to expand their business in the fastest growing economy of the world expect “tax parity” in the annual budget to be tabled by Finance Minister Nirmala Sitharaman, the head of a top India-centric US business advocacy group said.

Mukesh Aghi, president, US India Strategic and Partnership Forum (USISPF) said the American companies have high expectations from what Sitharaman would present in her fourth annual budget on Tuesday.

The US companies, he noted, are very keen on investing in India as they believe that the fundamentals of the economy remain strong in the country, offer a big market and they would like to diversify given the Chinese risk factor.

“They (US companies) are looking at tax parity. For example, e-commerce companies that have equalisation levy, that needs to be done away with. They are looking at lowering of tariffs. It is good for India also because domestic companies become much more competitive and efficient,” he told PTI in an interview on Monday.

American companies, Aghi said, are looking at more investment in India’s infrastructure. They also want the labour laws and land acquisition process streamlined, he observed.

“Because ease-of-doing business is still very critical in the minds of these investors. They spent a lot of time putting in an application for more land or water so that has to be sorted out,” he said.

The USISPF chief further said the US companies, from a long-term perspective, expect from the annual budget “a sense of predictability, transparency and concentrated process”. These are the critical questions raised inside a boardroom when a company is planning to invest million or billions in India, he added.

“I think it is important that the tax regime, for example, do not behave like tax terrorism, but behave more like tax partners. If you look at any US company at the moment, there will be some kind of tax issues with the authorities,'' he said in response to a question.

Aghi added that it is important that corporate taxes are in line from a global perspective. They do not have extra taxes, which makes these companies' cost of manufacturing itself more expensive, he said.

He said Sitharaman has been transparent and her confidence has gone up in handling the economy and the budget itself. Asked about the expectations of Indian Americans from the budget, Aghi said certain reforms in the regulations and taxations related to start-ups in India would help them create a better atmosphere and bring in more investment from the diaspora.

“What we are seeing is more and more Indian Americans are funding startups,” he said, noting that India produced 44 unicorns last year and there are over 10,000 startups blossoming in India.

“It is important to allow these startups to list in the US as the capital and access is much easily available in the US, so valuation gets better,” he said, adding that taxation reform is essential on options granted to employees. An early taxation on such options makes it less attractive, he argued.

“India has a tremendous success story of startups. It is the third largest ecosystem in the world. That shows the zeal and the spirit of entrepreneurs in India….. they are willing to go out into an environment in which they can get better.

“At the end of day, startups are job creators, and they are innovators. The combination is critical for India to sustain 8.5 to 9 per cent economic growth for the next 10-15 years,” Aghi added.

Click Here:- Get Share Market Tips With High Accuracy

Mon	Tue	Wed	Thu	Fri	Sat	Sun
31	1	2	3	4	5	6
7	8	9	10	11	12	13
14	15	16	17	18	19	20
21	22	23	24	25	26	27
28	1	2	3	4	5	6
7	8	9	10	11	12	13