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As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.

On one hand, economists and experts say, the budget will be the starting point for picking up the pieces after the economic destruction caused by the COVID-19 pandemic. Meanwhile, Prime Minister Narendra praised the Finance Minister saying: Probably for the first time in India's history, the finance minister had to give four-five mini budgets in 2020 in the form of different packages. So, I am confident that this budget will also be seen as part of the series of the four-five mini budgets.

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What the fund managers are expecting from Nirmala Sitharaman

Radhika Gupta, MD and CEO of Edelweiss Mutual Fund points out India needs a consistent and stable tax regime so no more changes in tax rules.

Earlier she took to Twitter to say: What I don’t want from the budget: a change in tax rules that is ambiguous in interpretation, and creates chaos. Think GAAR and the FPI saga. India needs a consistent and stable tax regime.

In last year's Budget, Finance Minister Nirmala Sitharaman introduced a new income tax regime. Though choosing the income tax regime, old or new, is optional but it left the taxpayer baffled.

Meanwhile, DSP Investments Managers President Kalpen Parekh said the mantra this time should be a simplification.

He said on Twitter: The budget too should focus on elimination first. Simplify Simplify Simplify.

With all hopes pinned on what to expect from the Finance Minister today, the Union Budget of 2021 is touted as one of the crucial budgets of recent times. Amidst all this, Finance Minister Nirmala Sitharaman said last week this budget will be a budget like no other.




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