Budget 2021 announcement, which has announced huge outlays for bolstering rural infrastructure, has made industry stalwarts even more upbeat about the Bharat growth story. The farmers' agitation against new farm laws has led to an approximate loss of Rs 600 crore in toll collection until January-end, according to ICRA.Read for more top stories from the world of business and economy:
Be it extended agri-credit targets, increased provision for rural infrastructure development or the setting up of five fishing economic hubs, captains of India Inc are hoping that these measures would significantly help in stepping up consumption.
Experts say the likelihood of a tax hike for tobacco products and cigarettes was low in this year's budget because it was hiked sharply in Budget 2020.
According to ICRA, even if the farmers' protest end by February, there would still be a steep decline of 30-35 per cent in toll collection on national highways in Punjab, Haryana and Delhi-NCR region for FY21, as compared to 5-7 per cent drop for rest of India.
While the Budget has revealed a plethora of proposals targeted at supporting the nascent economic rebound, timely implementation of these proposals will be key to sustaining higher growth of the Indian economy in FY2022 and beyond.
RBI's recent order comes after it advised HDFC Bank to temporarily stop all new launches of digital business generating activities planned under its programme Digital 2.0 on December 3, 2020.
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