LIVE Updates | Indian Union Budget 2023-24 Expectations: Start-ups demand separate taxation system for the sector

Finance Minister Nirmala Sitharaman will present the Union Budget 2023-24 in Parliament on February 1, 2023. The upcoming Union Budget 2023 will be the last full year Budget from PM Narendra Modi led government while a lot of hopes are being pinned on the annual excersise.

India's projected internal growth is encouraging, but there are still geopolitical risks, rising inflation, and sluggish global economic development around us. With the budget session shortly approaching, several sectors including manufacturing, real estate, ed-tech, agriculture, hospitality, banking, telecom, MSME and more have expressed their expectations from this year's budget.

The impact of the pandemic too has not completely faded away and in general, all the sectors have been demanding that the government should concentrate on increasing tax payer liquidity, take specific demand-side initiatives in order to increase consumption in various sectors.

Industries are also of the view that the upcoming Budget should adopt a holistic approach to boosting economic conditions for every person, in addition to focusing on strengthening the nation's economy.

Stay tuned with us for live updates on expectations from Union Budget 2023-24

21 January 2023

20:51 IST

LIVE Updates | Indian Union Budget 2023-24 Expectations: Hospitality industry seeks tax relief, investment in infrastructure, and GST exemption

We are expecting the central government to consider giving industry status to hotels across the country, spending on investment in infrastructure development to support the effortless movement of people, and tax relief measures to owners so they can pump in investments in current hotels as well as resume the stalled progress of hotels in the pipeline. It would be great if the government implements the GST brackets suggested by FHRAI and various bodies, applicable to hotel services to induce demand and remain competitive in the regional/global markets: Sharad K. Upadhyay, General Manager, Crowne Plaza Greater Noida.

19:01 IST

LIVE Updates | Indian Union Budget 2023-24 Expectations: MSME demands removal of basic customs duty on metal scrap

Removal of basic customs duty on metal scrap will provide a big boost to the MSME units of the Recycling Industry largely dependent on imported scrap as a key raw material. The move will also benefit other industries in the MSME sector that use metal for finished products in various downstream applications such as infrastructure and auto components: Sanjay Mehta, President MRAI (the apex body of the Recycling Industry of the country).