Is Budget Support to Our Business in India?

 The expert's opinion is that the current budget is fair. But the main concern is that Inadequate attention to defence and rural employment. However, Atmanirbhar is highlighted in various sectors under the six pillars which have indicated in the Budget 2021.

People have hope and worry about the Union Budget 2021-22 which is the backdrop of the COVID-19. The pandemic situation which is badly hit to us in our health, sociality and economy. This budget can be made a positive effect up to a certain extend. This budget has given preference to Infrastructure development and healthcare. The stock market rally is moving stronger nowadays due to the present budget of 2021.

What is the main support for the business?

This budget has given preference to infrastructure. That is one advantage of developing business which is pointed linking highways and roads in Kerala, Tamil Nadu, West Bengal and Assam. Infrastructure development helps to reduce logistic cost and create an industrial environment. But the completion of the project must be aware with the time period.100% electrification of railways to be completed by 2023 is an added advantage too. Metro rail development is a vital part to reduce pollution and growth of the convenient transport. Budget speech has pointed the development of 27 cities plus additional allocations for Kochi Metro, Chennai Metro phase2, Bengaluru Metro phase 2A, and B, Nashik and Nagpur Metros.

 What are the benefits for the entrepreneurs?

The main attraction is one person company (OPC) can be converted into public or private without restrictions. The waiting period of two years has been removed. The limitation of paid-up capital and turnover has been changed for getting the growth of the country. NRI can incorporate OPC in India. That has not been allowed before. The residency period has been reduced to 120 days from 182 days. Incubator support is also another advantage. Start-up turnover is less than 100 crores were allowed extension of tax holidays in three consecutive assessment years. Rs.15,000 crores have been allowed to set up for boosting the MSMEs. 

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