'The trade deficit in some sectors is huge and that is an area of opportunity to localise.'
Traditional plans are the biggest area of concern for consumers.
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates. Her Budget for the fiscal year beginning April 2022 proposed a massive 35 per cent jump in capital expenditure to Rs 7.5 lakh crore, coupled with rationalisation of customs duty, an extension of time for setting up new manufacturing companies and plans for starting a digital currency and tax crypto assets.
Sectors throw up a wishlist for the Finance Minister.
One of India Inc's top demands is the abolishing of the MAT.
Real estate sector cheers reforms in the Budget.
The government has provided a long-term vision.
Indian economy about to take-off
President Pranab Mukherjee on Monday addressed the first joint sitting of Parliament as mandatorily required under the Constitution after the general elections. The address is the political, economic and foreign policy road map of the Narendra Modi government and covers virtually all crucial areas.
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