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Why MSMEs want a review of Section 43B(h)?

Section 43B(h) of Income Tax Act - mandating payment to micro and small enterprises (MSEs) within 45 days of supply - was welcomed when announced in Budget 2023-24. However, MSEs are now facing a peculiar problem of losing orders from large firms because of it. Rakesh Rao explores more on this issue and the road ahead.Read more

Decoding the attempt of a liquidity boost to MSEs

Recently, certain amendments were introduced through the Finance Act 2023 (FA 2023) to enhance financial liquidity for Micro and Small Enterprises (MSE) by indirectly compelling their customers to pay their dues on time. This amendment comes up like a double-edged sword, opine Aishwarya Jaju and Rushabh Bhandari.Read more

Budgeting for growth?

The interim budget 2024-25, announced by Union Finance Minister Nirmala Sitharaman on February 1, 2024, has allocated Rs 11.11 trillion as capital expenditure (capex) for the next financial year – which is 3.4 per cent of the GDP and 11.1 per cent more than the planned capex of Rs 10 trillion for FY24.Read more

Industry leaders react positively to the interim budget 2024-25

The Interim Budget also contained a number of announcements and strategies indicating directions and development approach for making India Viksit Bharat by 2047. Here are the reactions from the industry leaders on the interim budget 2024-25.Read more

Interim budget 2024: Driving mobility on green path

With a goal to achieve India’s net zero emission target by 2070, the interim budget 2024-25 announces some measures to strengthen the electric vehicle (EV) ecosystem and charging infrastructure. Here is what the EV industry leaders have to say about the budget.Read more

Budget proposes Rs 1 trn corpus to boost investment in sunrise technologies

The Union Finance Minister Nirmala Sitharaman, while presenting the Interim Budget 2024-25, also proposed a new scheme for strengthening deep-tech technologies for defence purposes and expediting ‘atmanirbharta’.Read more

Interim budget 2024-25: Govt plans Rs 11.11 trillion capex for this year

FM Nirmala Sitharaman proposed setting up of a corpus of Rs one trillion for India’s tech savvy youth. For railways, three major economic railway corridor programmes - energy, mineral and cement corridors, port connectivity corridors, and high traffic density corridors - will be implemented.Read more

AiMeD urges govt action to curb soaring Medical Device Import Bill

Despite support from the Department of Pharma in the previous year, the Medical Devices Industry Proposal for Union Budget 2023-24 was overlooked, according to AiMeD.Read more

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

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