Rajan Navani, Vice Chairman & Managing Director, JetSynthesys
I’m happy to see the Union Budget 2021 is a forward-looking one, with massive spend commitment by the government across many sectors combined with large divestment and monetisation, along with the privatisation of two public banks and one insurance company. This is a great trajectory for banking in India. Also, the increase in FDI in insurance to 74 percent with management control will help in attracting FDI from the world, further boosting the economy. I’m particularly excited about the government’s commitment to set aside an outlay of Rs 50,000 Crore for the National Research
Foundation, the setting up of a new Fintech hub, and an allocation to incentivise digital payments. Also, as we complete 75 years of independence, the move to exempt senior citizens over 75 years from filing tax returns if they are only on pension is a great tribute to their contribution to India. The budget also had a number of bold initiatives to simplify tax processes for businesses and honest tax-payers. The extension of the tax holiday and exemption of capital gains will also enable businesses and startups to focus on growing their business. Most importantly, the proposed use of data analytics, AI (artificial intelligence) and ML (machine learning), optimising the Ministry of Corporate Affairs and tax portals, is indicative of the New India of 2022. I hope this forward-looking budget will help revive India’s economy, propelling it further towards a digitally empowered tomorrow.
Rajan Navani, Vice Chairman & Managing Director, JetSynthesys
Digital Edge Bureau 07 Feb, 2021 0 comment(s)Rajan Navani, Vice Chairman & Managing Director, JetSynthesys
I’m happy to see the Union Budget 2021 is a forward-looking one, with massive spend commitment by the government across many sectors combined with large divestment and monetisation, along with the privatisation of two public banks and one insurance company. This is a great trajectory for banking in India. Also, the increase in FDI in insurance to 74 percent with management control will help in attracting FDI from the world, further boosting the economy. I’m particularly excited about the government’s commitment to set aside an outlay of Rs 50,000 Crore for the National Research
Foundation, the setting up of a new Fintech hub, and an allocation to incentivise digital payments. Also, as we complete 75 years of independence, the move to exempt senior citizens over 75 years from filing tax returns if they are only on pension is a great tribute to their contribution to India. The budget also had a number of bold initiatives to simplify tax processes for businesses and honest tax-payers. The extension of the tax holiday and exemption of capital gains will also enable businesses and startups to focus on growing their business. Most importantly, the proposed use of data analytics, AI (artificial intelligence) and ML (machine learning), optimising the Ministry of Corporate Affairs and tax portals, is indicative of the New India of 2022. I hope this forward-looking budget will help revive India’s economy, propelling it further towards a digitally empowered tomorrow.
Qaisar
Digital Edge Bureau
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