<p>The first objective of the government in the upcoming budget should be job creation, said Tarun Arora, Partner, Deloitte India. Salary limits should also be increased for employees from Rs 25,000 to at least Rs 50,000, he added. Watch the video for more details.</p>
<p>This year's finance budget will be announced in the backdrop of exceptionally challenging times due to COVID-19. The FMCG sector, however, has witnessed green shoots of recovery thanks to good monsoon, good demand and growth in the personal care and home care segments. Watch the video as Sanjesh Thakur, Partner, Deloitte India, speaks about FMCG industry's expectations from upcoming budget and why the government should spend more on infrastructure and provide consumers with higher disposable income and thus boost consumer confidence. </p><p><a target="_blank" href="https://www.businesstoday.in/union-budget-2021/expectations/budget-2021-speech-finance-minister-nirmala-sitharaman-highlights-income-tax/story/429755.html">Budget 2021 highlights: FM Nirmala Sitharaman unlikely to announce relief on income tax front</a> </p>
<p>A host of economists have suggested that the government needs to spend more towards the overall economy and infrastructure to create enough demand in the economy. This would finally bring us out of this recession. But where will the government get resources from? Watch the video as Rajeev Dubey, Editor, Business Today explains ways by which the government could raise resources and spend more to finally achieve its targets, in part 2 of the Budget series. </p><p><a target="_blank" href="https://www.businesstoday.in/videos/union-budget/2021-22/union-budget-whats-working-whats-not-for-indias-economy/429431.html">Watch: Union Budget: What's working, what's not for India's economy</a> </p>
<p>The covid-19 pandemic has inflicted some real damage to almost all sectors of the economy, infrastructure being one of them. While the government will be busy making up for the economic losses in the upcoming budget, it shouldn't forget that equal importance needs to be given to job creation, economic growth, livelihoods and infrastructure. Watch as Sanjay Kumar, Partner, Deloitte India, talks about the challenges of infrastructure projects and why the government should set up an infrastructure board for the same. </p><p><a target="_blank" mce_href="https://www.businesstoday.in/budget/2021/" href="https://www.businesstoday.in/budget/2021/">Budget 2021</a> </p>
<p>From making amendments in Section 80C to assuring uniformity in the tax treatment for mutual funds schemes and ULIPs of insurance companies, there are many expectations from the budget. Watch as Tapati Ghose, Partner, Deloitte India, explains more on what employees want from the upcoming budget. </p><p>Also Read: <a mce_href="https://www.businesstoday.in/union-budget-2021/expectations/budget-2021-5-big-challenges-in-indian-banking/story/429275.html" target="_blank" href="https://www.businesstoday.in/union-budget-2021/expectations/budget-2021-5-big-challenges-in-indian-banking/story/429275.html">Budget 2021: 5 big challenges in Indian banking</a> </p>
<p>The finance minister's announcement that budget 2021 will be like no other has created a lot of euphoria and excitement among citizens. But, at the same time, it has also fuelled concern regarding increase in taxes as the government will have to spend money on infrastructure and sectors affected by COVID such as-healthcare, tourism and hospitality. Watch the video as Rajesh Gandhi, Partner, Deloitte India explains how the balance can be achieved and expectations met given a tight fiscal situation prevailing in the economy. </p><p><a target="_blank" mce_href="https://www.businesstoday.in/current/economy-politics/budget-2021-covid-19-crisis-emphasises-need-for-higher-allocation-for-healthcare-sector/story/428940.html" href="https://www.businesstoday.in/current/economy-politics/budget-2021-covid-19-crisis-emphasises-need-for-higher-allocation-for-healthcare-sector/story/428940.html">Budget 2021: COVID-19 crisis emphasises need for higher allocation for healthcare sector</a> </p>
<p>In conversation with India Today TV, Nobel laureate Abhijit Banerjee discussed the economic implications of COVID-led lockdown and ways in which economic growth can be stimulated in the upcoming budget. The discussion revolved around the Oxfam report on rising income inequality among people especially after COVID, when Indian billionaires' wealth rose by up to 35 per cent while 84 per cent households suffered some form of income loss. Watch the video for Banerjee's suggestions on bridging this income gap.</p>
Budget 2020: Higher customs duties are likely to hit goods such as mobile phone chargers, industrial chemicals, lamps, wooden furniture, candles, jewellery and handicraft items
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Jain also said that the Delhi government only has 7,000 - 8,000 personal protection equipments (PPE) kits which will last 2-3 days
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In a tweet, Prashant Kishor said that governments all over the world were trying to bring people back to home but Bihar residents were stranded because of Nitish Kumar
In the upcoming Union Budget, the auto industry has sought measures, such as reduction in GST rates on vehicles and abolition of duty on import of lithium-ion battery cells, to encourage electric mobility
U.N. Secretary-General Antonio Guterres recommended that ministers and diplomats skip a meeting in New York next month in wake of the Coronavirus outbreak
True extent of central government's off-budget financing is not known. CAG picked some cases for scrutiny in the recent past and found an alarming rise in the magnitude of such financing, which is not only distorting the budget numbers but also poses a serious challenge to fiscal responsibility. Part I of this two-part series looks at the trends and why it should concern all
Calculator compares taxes in old and new tax regimes for financial year 2020-21 and has been hosted on department's official e-filing website -- incometaxindiaefiling.gov.in
Indirect Tax proposal by FM Sitharaman: In order to curb abuse of the Free Trade Agreements (FTA), suitable provisions are being incorporated in the Customs Act and a review of the Rules of Origin requirements shall be undertaken for import of sensitive items. Here's all the takeaways
Budget 2020 taxes: Overall, it appears to be a balanced budget without rubbing the investors/taxpayers in the wrong way.The government has continued with its agenda of simplifying the tax structure for corporates and making it more transparent
Budget 2020 jobs: By 2030, the working age population of India is expected to be the largest in the world. This is exactly why job creation is a key focus area for the Modi government. Here's all you need to know
At present, bank depositors get an insurance cover of Rs 1 lakh on their amount by the Deposit Insurance and Credit Guarantee Corporation if a bank fails
Rating agency says five-fold increase in deposit insurance to Rs 5 lakh from Rs 1 lakh earlier is "credit positive" for banks, as it will raise depositor confidence
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