Extending industry status to the entire sector can help developers raise funds at lower rates and, in turn, reduce their project costs which will help in pushing demand.
The Finance Bill 2017 proposed few changes in relation to transfer pricing and aligning the Indian regulations to the Base Erosion and Profit Sharing ('BEPS') Action Plan.
Union Budget 2017 (the budget) proposes an additional burden of secondary adjustment for Indian companies having transactions with foreign related parties, and thereby moves towards a more stringent transfer pricing (TP) regime in India.
The Hon'ble Finance Minister announced the Union Budget proposals for the financial year 2017-18 on 1st of February 2017 which was more focused towards welfare and growth schemes in rural areas, empowering youth through education, prudent fiscal management, improved public service and digitizing the economy.
The Union Budget 2017 has struck a fine balance between being populist and bolstering private sector investments; with a special focus on infrastructure and affordable housing.
There were high expectations from the budget 2017, as it was presented about three months after the biggest economic experiment in Indian history.
Still, the 'narrow' corridor managed to include measures to boost consumption, to provide growth stimulus, and to ensure fiscal discipline.
The Budget has the potential to reverse the declining investment cycle and spur demand growth, eventually building up to 7 per cent-plus GDP growth in 2017/18
This Budget has relied on strengthening strategies for agricultural progress articulated in the previous year, rather than new initiatives
FM Jaitley has been prudent financially and focused on some good proposals, but he has not unveiled any breakthrough idea
Post-demonetization, middle class has been facing many hassles due to cash crunch. They have been clamoring for tax benefits as a gesture of goodwill from government for the hardships they faced. FM ArunJaitely has heard them.
The stock market made an explosive move post budget, giving a clear thumbs up to the annual Budget 2017 presented by Finance Minister on Wednesday. Clearly, the nervousness exhibited by investors pre budget has changed to confidence about the economic future.
A major task of reshaping the skylines of a city and adding some structure to the chaos is done by mid-level realtors. For instance slum redevelopment enables increasing the hygiene levels within a city at the very least.
The Indian hospitality and tourism industry accounts for 7.5 per cent of the GDP with an estimated US $47 Billion in direct contribution to the GDP in 2016. This contribution to GDP is projected to grow at 7.2 per cent year-on-year to reach a whopping $ 160.2 billion by 2026.
The top expectation from the Budget is a move to a lower tax regime either by raising the basic tax exemption limit by at least Rs 50 thousand which has remained unchanged since Finance Act 2014 (currently at Rs 2.5 lakhs for non-senior citizens, Rs 3 lakhs for senior citizens and Rs 5 lakhs for super senior citizens) or by a reduction in the personal income tax rates.
The most important task of the Finance Minister in the 2017-18 budget is to tame the "Indirect Transfer Provisions" monster born out of amendments to Section 9 of the Income Tax Act, 1961.
At the domestic front, even as things seem to stabilize post the demonetization drive, the long term effect is yet to play out. While time will eventually show the true impact, we need to continue taking enabling steps to move further ahead on the path of inclusive growth.
The other key developments in 2016 include passage of Constitutional Amendment Bill for GST, dedicated action to deal with the menace of black money [Income Declaration Scheme, 2016 (IDS), amendment to Benami Property Transactions Act, etc.] and concentrated efforts to improve the tax administration.
Auto mobile industry players are working toward extension of the incentive scheme for electric mobility under the FAME scheme and hoping for a positive response from the upcoming union budget with a long term plan for atlteast next five years.
While automation replaces machines for routine jobs, at the same time it increases the demand for high skilled jobs, non-routine jobs. It also creates opportunities for low-skilled non-routine jobs in activities such as caring and personal services that are hard to automate.
The countries in the Asia Pacific region are increasingly embracing agricultural biotechnology, while we are still debating the merits of it. The 2017 budget needs to set this wrong right by providing incentives to improving agricultural research within the country.





