The 2021 Union Budget announcements that cheered investors today included hike in foreign direct investment (FDI) limit in insurance from 49% to 74%, scrappage policy for vehicles, privatisation of two nationalised banks and proposal of monetisation of assets
The government has also set a five-year long fiscal consolidation path to 4.5 per cent fiscal deficit by 2025-26. This means the government expansionary fiscal stance to support the growth will continue
Budget 2021: Finance Minister says to further ease filing of returns, details of "capital gains from listed securities, dividend income, and interest from banks, post office, etc, will also be pre-filled"
Tax buoyancy, which describes the sensitiveness of tax revenue growth to changes in nominal GDP, is expected to touch 1.2 in FY22, marginally lower than 1.3 in FY21 (both tax revenues and GDP are projected to decline)
The airlines in India typically take aircraft from lessors (on lease) who are based overseas. IndiGo, for instance, has over 200 planes on lease, and so is the case with other airlines like SpiceJet, GoAir, Vistara and Air India
Budget 2021: In order to benefit farmers and promote domestic manufacturing, the government has also raised customs duty on cotton from nil to 10 per cent and on raw silk and silk yarn from 10 per cent to 15 per cent