The Finance Bill 2021 aims to move towards a more positive “Atmanirbhar Bharat” with impetus on development of infrastructure growth and focus on health and well being of general public. With agri sector and health sector in focus and increase in outlay for MSME, infra, urban water, textile investment, electricity distribution & transmission revamp, mission poshan etc.the Goverment has tried to create a base for building a new India.
Setting up of development Financial Institute for boosting infra sector is a positive step. Provision for 2nd phase of Nagpur Metro is a welcome step for our city commuters. Taking care of stress assets through set up of ARC’s and ARM’s will bring much needed relief to Banking sector. The FM reiterated that tax systems to be transparent, efficient and promote investments in our country.
The tax rates, surcharge, cess etc. have been left untouched. Agri infra cess, however will create a deep hole in pockets of consumers with increase in rates of petrol/diesel. A few more tax sops / sector demand of industries was however kept in abeyance.
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