LIVE Updates | Indian Union Budget 2023-24 Expectations: Reduce tax burden on individuals by increasing minimum threshold

Budget 2023 will be the last full-term budget for the Narendra Modi-led BJP government as it is going to Lok Sabha Polls next year. There are a lot of expectations from the Finance Minister Nirmala Sitharaman and the industry is anxiously awaiting news on whether the fifth-largest economy will continue to drive economic growth on a global scale.

Finance Minister Nirmala Sitharaman will present the Union Budget 2023-24 in Parliament on February 1, 2023.

24 January 2023

19:46 IST

LIVE Updates | Indian Union Budget 2023-24 Expectations: Evaluate Incentives, Liberalise Tax Benefits, Lower Interest Rates on Capital

Government should evaluate incentives such as allowing people to claim depreciation on vehicles, liberalise tax benefits and enable lower interest rates on capital, as this would not only motivate people to buy and upgrade cars but also contribute to the growth of India’s GDP & further organize the pre-owned cars market. The new norms from the Ministry of Road Transport and Highways will encourage transparency, and address concerns regarding accountability and responsibility, creating a more level playing field between organized and unorganized entities: Niraj Singh, Founder & CEO, Spinny. 

18:58 IST

LIVE Updates | Indian Union Budget 2023-24 Expectations: Relaxed Tax Regulations and Liquidity Assistance for NBFCs

In the 2023 budget, we anticipate a strong mandate for lending NBFCs working to empower underserved small and medium businesses through financial and technological interventions. Furthermore, we anticipate some relaxed tax regulations and liquidity assistance for NBFCs- Parry Singh, Founder and CEO,  Red Fort Capital.