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Budget 2021

Road to Recovery
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Reliance Jio Infocomm Ltd, Bharti Airtel Ltd and Vodafone Idea Ltd are COAI members
Excess cash with banks averaged Rs39,700 crore ($6.2 billion) last week, compared to a peak of more than 5 trillion rupees in March, according to Bloomberg Intelligence India Banking Liquidity Index. Photo: Hemant Mishra/Mint
Excess cash with banks averaged Rs39,700 crore ($6.2 billion) last week, compared to a peak of more than 5 trillion rupees in March, according to Bloomberg Intelligence India Banking Liquidity Index. Photo: Hemant Mishra/Mint

Budget 2021: NBFCs seek continued liquidity support

NBFCs expect the govt to provide continued liquidity support by encouraging banks to lend more to the sector, setting up a permanent refinance window and relaxing external commercial borrowing norms in the upcoming Budget

Photo: Mint
Clockwise from top: Ashish Chauhan, CEO, BSE; Roopa Kudva, managing director, Omidyar Network India; Anant Narayan, associate professor, SP Jain Institute of Management and Research; and Aymar de Liedekerke Beaufort, CEO, BNP Paribas India. Bloomberg/Mint
Clockwise from top: Ashish Chauhan, CEO, BSE; Roopa Kudva, managing director, Omidyar Network India; Anant Narayan, associate professor, SP Jain Institute of Management and Research; and Aymar de Liedekerke Beaufort, CEO, BNP Paribas India. Bloomberg/Mint

‘Bad bank is a good idea’

India should set up a bad bank so that bankers can devote time to credit flow than just loan recovery, say experts

'Reforms and stimulus has largely been an off‐Budget item, so the government will likely deliver measures to prop the economy whenever needed.'
'Introduce Debt Linked Savings Scheme (DLSS) to deepen the Indian bond market.'
There is no clear cut provision in the Income Tax Act about how withdrawals from Tier II account should be taxed. Since these are not the mutual fund products, for which there exist exact rules, there is confusion about taxation of Tier II withdrawals.
There is no clear cut provision in the Income Tax Act about how withdrawals from Tier II account should be taxed. Since these are not the mutual fund products, for which there exist exact rules, there is confusion about taxation of Tier II withdrawals.

Budget 2021: 'Govt needs to make NPS fair for all subscriber categories'

Tax benefits for contribution towards tier I account, for employer’s contribution for central government employees, is available up to 14% but when it comes to other employees it is capped at 10% which is eligible for deduction under Section 80CCD(2).

Prime Minister Narendra Modi (AFP)
Union Finance Minister Nirmala Sitharaman.
RoDTEP scheme is based on the principle that taxes and levies borne on exported products must either be exempted or remitted to exporters (Bloomberg)
The Economic Survey cites high-frequency data such as exports, factory output and non-food credit growth to up the growth estimate for 2017-18 to 6.75% from 6.5% projected by the Central Statistics Office.  Photo: Priyanka Parashar/Mint
The Economic Survey cites high-frequency data such as exports, factory output and non-food credit growth to up the growth estimate for 2017-18 to 6.75% from 6.5% projected by the Central Statistics Office. Photo: Priyanka Parashar/Mint

Enable private participation in broader efforts to revive growth

Easing business conditions would let the private sector expand its role in aiding inclusive growth

Photo: Mint
Lok Sabha Speaker Om Birla
Budget 2021: Odisha seeks  ₹7.2K cr for railway infra,  ₹5.6K cr for telecom (PTI)
The budget, to be presented by Sitharaman on 1 February, is expected to focus on reviving the economy following the massive slowdown due to the covid-19 outbreak and the 68-day stringent nationwide lockdown from 25 March.
The budget, to be presented by Sitharaman on 1 February, is expected to focus on reviving the economy following the massive slowdown due to the covid-19 outbreak and the 68-day stringent nationwide lockdown from 25 March.

Govt likely to set up DFIs to meet infra funding needs

Merging existing entities is likely to be announced in the Union budget 2021-22 to meet long-term funding needs of new, stalled and under-construction infrastructure projects worth over 100 trillion

Each successive budget has added a new layer of complexity rather than reducing it
BSE chief executive officer Ashishkumar Chauhan. (Hemant Mishra/Mint)
Finance Minister Nirmala Sitharaman will unveil the budget on Feb. 1 amid the shadow of a projected economic contraction of 7.7% for the current fiscal year (Photo: PTI)
Finance Minister Nirmala Sitharaman will unveil the budget on Feb. 1 amid the shadow of a projected economic contraction of 7.7% for the current fiscal year (Photo: PTI)

Budget 2021 seen raising import duties by 5%-10% on dozens of items: Report

  • The govt is considering hiking import duties by 5%-10% on over 50 items including smartphones, electronic components and appliances in the upcoming budget, the report said
  • The move to increase import duties is part of PM Modi's self-reliant India campaign that aims to promote and support domestic manufacturing

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