As part of the Money9 Budget conclave, Shailesh Pathak, CEO, L&T IDPL, in a chat with Sakshi Batra elucidates what the Budget means for the common man.
In the last of six pillars of Budget 2021, Finance Minister Nirmala Sitharaman outlined plans for reforms to ensure minimum government, maximum governance.
Modalities of the NRF have been worked out and an outlay of ₹ Rs 50,000 crore has been announced for a period of five years.
Unit linked insurance plans offers a combination of both investment and insurance. It offers a chance to invest in stock markets including government and corporate bonds, as per the preference of the policyholder.
Amendment to the Apprenticeship Act with a view to further enhancing apprenticeship opportunities for the youth.
“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.
Higher spending will be funded by higher borrowing which has the potential to create an upward pressure on inflation and interest rates.
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.