It’s a judicious, promising, and visionary budget. As was expected, being an interim budget, there are no changes in tax proposals or tax rates, including import duty.
A fiscal deficit coming below 5.1% will reduce net government borrowings and lead to fiscal consolidation & macroeconomic management. Broad announcements with focus on infrastructure capex, rooftop solar,housing for the middle class,private & public investment, innovation, sunrise sectors,aviation, EV ecosystem, coal gasification, bio-manufacturing, bio-degradable products, tourism sectors, and reduction of imports. Waiver of income tax demands from previous years up to a certain specified amount will result in a reduction of litigation proceedings & relief to assesses.
