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EY forecasts extension of 15% corporate tax rate in 2024 budget

EY predicts that the interim Budget may push back the deadline for commencing manufacturing from March 31, 2024, to March 31, 2025, for companies benefiting from the 15% concessional income tax rate.Read more

India explores global partnerships for indigenous hydrogen-powered trains

The Indian Railways is advancing the creation of a prototype train utilising hydrogen fuel cells, offering a more eco-friendly alternative to traditional diesel locomotives.Read more

Budget 2023: The manufacturing fine print

Global commodity supply continued to be disrupted due to intensified Russia-Ukraine war and re-emergence of Covid-19 in China. Read more

Budget 2023: Revving up manufacturing with duty revisions and capex boost

By allocating Rs 10 lakh crores for capital expenditure (which would be 3.3 per cent of GDP) and making minor changes in the basic custom duties, cesses and surcharges on some components, the budget aims to provide more opportunities for local manufacturing.Read more

Budget proposes Rs 90 bn for revamped credit guarantee scheme to MSMEs

The announcement that the Government will bring another dispute resolution scheme under Vivad Se Vishwas-II to settle commercial disputes will help MSME and trade resolve their issue urgently.Read more

India’s growing economy gets budget’s booster dose

The budget has laid down a blue print for achieving the objective of Atmanirbhar Bharat and sustainable development in the future. However, it will be important to look at the execution, on which the success of all the policy announcements will depend.Read more

Budget 2022 - Govt increases capex by 35% to Rs 7.50 trn in 2022-23

In defence sector, 68% of the capital procurement budget will be earmarked for domestic industry in 2022-23, up from 58% in 2021-22. Defence R&D will be opened up for industry, start-ups and academia with 25% of defence R&D budget earmarked.Read more

Indian govt announces Rs 6.3 trillion relief package to fight second Covid wave

FM extends tenure of PLI scheme for large scale electronics manufacturing till 2025-26. Announces credit guarantee scheme to facilitate loans to 25 lakh persons through Micro Finance Institutions (MFIs).Read more

Budget 2021-22: On reform and rationalisation path

Fiscal deficit in RE 2020-21 is pegged at 9.5% of GDP, while fiscal deficit in BE 2021-2022 is estimated to be 6.8% of GDP. Intends to reach a fiscal deficit level below 4.5% of GDP by 2025-2026 with a fairly steady decline over the period.Read more

Budget 2021 aims to rationalise duties; proposes changes to benefit MSMEs

To benefit MSMEs, budget proposes to increase duty on steel screws, plastic builder wares and on certain auto parts. The budget 2021 proposes to review 400 old exemptions in the custom duty structure this year.Read more

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