Ludhiana, 1 February | In a recent announcement, CA Mantosh Kumar unveiled the government’s Interim Budget, focusing on a long-term vision. However the Government
had tried to come up with the long term vision & concrete blue print. From the perspective of the common man & the industry on an immediate basis, nothing was their as all provisions would remain same as were earlier. In Taxation Withdrawal of direct tax demands of upto ₹25000 for period upto 2009-10 & ₹10000 for period upto 2014-15 with benefit to 1 Crore people.
Other welcome initiatives are 1-lakh crore corpus to encourage the private sector to scale up R&D, Rooftop solarisation with benefit to 1 crore households to obtain 300 units of free electricity every month, Garib, Mahila, Annadata and Yuva will be focus groups, Electronic Agri Mandi, MSP for ‘Annadata, credit assistance to 78 lakh street vendors, PM Mudra Yojana, housing for middle class, electric vehicles Entrepreneurship opportunities
The government aims to simplify compliance, encourage the faceless system, and reduce personal visits for ease of doing business. Lowering tax rates is highlighted to boost industry compliance. Overall, the budget charts a strategic roadmap for the nation’s economic growth.