Can the Union Budget 2020 Revive India’s Economy?

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On February 1 2020, India’s Finance Minister Nirmala Sitharaman presented her second Union Budget with plans to re-energise the Indian economy through a series of reforms and measures.

The Budget was focussed around three themes – aspirational India, economic development for all, and building a caring society. The aim of these schemes is to promote ease of living.

On February 27, India Managing Director Rohit Kapur analysed India’s Union Budget 2020 and answered the single most important question: Can this Union Budget revive India’s economy?

India’s Union Budget 2020

A number of initiatives and policy reforms were announced in the budget to spur growth and investment in the economy including a new individual tax regime, abolition of dividend distribution tax, 16-point action plan for agriculture, among others.

During the webinar, Rohit discussed these initiatives and policy reforms and how they would help in improving the economy.

Impact on Foreign Investors

Further, Rohit discussed the impact of budget announcements on foreign investors – tax exemption for sovereign wealth funds, ease of rules for foreign investments in education sector, increase in limits for FPIs in corporate bonds, and changes related to TDS, DTAA and NRI taxation.

Rohit concluded by analysing the income receipt and expenditure for the FY 2020-21 and answering queries from the participants.

 “The plans of the government are well conceived and have the potential of boosting income and consumption to rejuvenate the economy, provided implementation of these plans is done in an efficient and timely manner”, said Rohit during the webinar.

To watch the complete webinar recording, click here.

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