1. FOCUS ON IMPROVEMENT: This Budget focused on improving structural aspects like improvement in storage buildings, extending working of ICMR labs, unified filing systems, moving from input-based incentives to performance-based incentives etc.
2. VITAL IN DIRECT TAX – The Government wants to move towards new tax regime from the old tax regime hence proposed tax benefits by improving personal tax rates for new tax regime and making new tax regime default for all. This shows the intention of Government diluting the old tax regime in coming time.
3. MSME – Revamped Credit Guarantee Scheme with infusion of Rs.9000 crore, Cost to be reduced by 1%. For timely receipt to MSME, deduction of expenditure incurred on actual payment basis.
4. START-UP – Carry forward of losses from 7 to 10 years even on change of shareholding.
5. ONE STOP UPDATION OF KYC – Thus will bring uniformity among all KYC and help in Data sharing among various government agencies.
