The Indian government just released the $428 billion Budget for 2020-21. It laid out a series of initiatives.
The Budget is woven around three prominent themes:
- Aspirational India in which all sections of the society seek better standards of living, with access to health, education and better jobs.
- Economic Development for all, indicated in the Prime Minister’s exhortation of “Sab ka Saath, Sab ka Vikas, Sab ka Vishwas.”
- Caring Society that is both humane and compassionate, where Antyodaya is an article of faith.
The marked difference between this Budget and the previous ones was the level of expectations with respect to monumental and fundamental reforms. This was inevitable given the high decibel issues such as sub 5% GDP growth and stressed conditions of the NBFC and Real Estate sector. Given this background and the way Government proposes to address these issues, we have presented our analysis in 3 broad areas viz.
- The Economic Survey is the background to the Budget.
- Sectoral impact of various announcements and policies.
- Tax proposals
As a committed tax advisor to our clients, we welcome any opportunity to discuss how the new Budget will impact your business. Contact us.