SME Times is powered by   
Search News
Just in:   • Twitter appoints Apurva Dalal as Director of Engineering in India  • WeWork India launches WeWork Business Solutions  • Centre working with states to protect lives, livelihood: FM  • Industry, exports sector need a helping hand  • India to become top EV producer in due course: Gadkari 
Last updated: 02 Feb, 2021  

budget-indiaTHMB.jpeg Budget 2021

   Top Stories
» Centre working with states to protect lives, livelihood: FM
» E-commerce saw over 100% growth in 2020
» FIDC seeks extension of MSME restructuring scheme till March 2022
» Modi interacts with pharma industry leaders
» NBFC body seeks inclusion of education in ECLGS
Bikky Khosla | 02 Feb, 2021

A 'Budget like never before' -- this is what the Finance Minister had promised, and it seems she, on Monday, delivered on her promise to a great extent. Despite the fact that it came in the backdrop of an unprecedented global pandemic, the Budget, by identifying six pillars -- health, physical and financial capital and infrastructure, inclusive development, human capital, innovation and minimum government and maximum governance – has successfully catapult optimism.

Budget 2021 focuses on growth over fiscal consolidation. This is encouraging. We have long been calling for strong measures to push the infrastructure sector, and now the announcement like setting up of the Development Financial Institution (DFI) sounds encouraging. Again, the emphasis on healthcare infrastructure, with proposal for 137% increase in health & well-being spending, is welcome. Similarly, the decision to pursue an aggressive disinvestment programme deserves mention.

For startups, there are some major announcements. Tax holiday for startups is now extended by one more year. These enterprises will now get capital gains exemption to 31 March 2022. Startups also have one more year to claim tax holiday. Similarly, the Budget proposes to reduce the margin money requirement for startups from 25% to 15%. This will help them upscale their business. Also, there is a proposal to incentivize incorporation of one-person companies. This is good news for entrepreneurs and innovators.

The Budget has made a provision of Rs 15,700 crore for the Ministry of Micro, Small and Medium Enterprises. The sector was allocated Rs. 7,572 crore in the previous union Budget of 2020-21. The Finance Minister also announced that a special framework for resolution of bankrupt MSMEs will be introduced. Also, the Budget has proposed to revise the definition under the Companies Act, 2013 for small companies by increasing their thresholds for paid up capital. These proposals are encouraging.

I invite your opinions.

Print the Page
Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 20 Apr, 2021
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
» Covid second wave: Lockdown or no lockdown(2)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter