Homec > Budget
“The budget looks growth oriented. Under present circumstances, the government has committed to a lot of spending, especially in the infrastructure sector," he told Money9.
Jewellers dealing in black market can save 5.5% tax (3% GST and 2.5% cess), much more than the earlier 3% tax, by undertaking cash deals.
The Finance Minister in the budget has proposed increasing the FDI limit in the insurance sector from 49% to 74% in the budget 2021-22.
Dividend earned on Real estate investment Trust (REIT) and Infrastructure Investment Trust (InvIT) will not be taxed.
Following the announcements, gold futures fell more than Rs 900 at 1.84% and is currently trading at Rs 48,430.
Nirmala Sitharaman also mentioned that the NH between Kolkata and Siliguri that runs along the length of the state of Bengal would be strengthened and broadened.
Asked to rate the budget, Virmani said: "It’s one of the outstanding budgets. I look for one big idea and a number of supporting reforms. The big idea in this Budget is framework for strategic sale."
The Finance Minister reiterated Modi government's vision of doubling farmers' income.
He told Money9 that although he feels the Budget scored on most parameters, it does not have anything substantial for startups.
Finance Minister Nirmala Sitharaman has proposed a push in capital expenditure with Rs 5.54 lakh crore being allocated.