Budget expectations 2021: ASSOCHAM
ECONOMY & POLICY

Budget expectations 2021: ASSOCHAM

In our CW Budget 2021 series, we cover expectations from associations that represent our industries. Here is a list of expectations from Budget 2021 from ASSOCHAM, which was established in 1920 as an association of more than 250 business chambers and trade associations. ASSOCHAM has especially focused in recent decades on technology and the knowledge industries.

ASSOCHAM states that the government's mission of a $5 trillion economy with Atmanirbhar Bharat objective continues to attract global investment in backdrop of measures taken to improve ease of doing business and innovative policy reforms. The important points in ASSOCHAM’s recommendations are as follows:

  • Assuring ''vibrancy" in the forthcoming Budget
  • Ensuring that public spending on infrastructure development would be sustained even as the prospects of vaccines against Covid-19 have brought in additional confidence for revival of the economy.
  • To further rationalize individual taxation.
  • Strengthening the manufacturing sector along with supporting the micro, small, and medium enterprises (MSMEs).
  • Measures to strengthen the non-banking finance (NBFC) sector as millions of entrepreneurs and MSMEs involved in infra activities depend on the infrastructure / asset financing NBFCs for their credit needs.
  • Single-minded focus on increasing domestic production.
  • Speeding up the process of disinvestment.

In our CW Budget 2021 series, we cover expectations from associations that represent our industries. Here is a list of expectations from Budget 2021 from ASSOCHAM, which was established in 1920 as an association of more than 250 business chambers and trade associations. ASSOCHAM has especially focused in recent decades on technology and the knowledge industries.ASSOCHAM states that the government's mission of a $5 trillion economy with Atmanirbhar Bharat objective continues to attract global investment in backdrop of measures taken to improve ease of doing business and innovative policy reforms. The important points in ASSOCHAM’s recommendations are as follows: Assuring ''vibrancy in the forthcoming BudgetEnsuring that public spending on infrastructure development would be sustained even as the prospects of vaccines against Covid-19 have brought in additional confidence for revival of the economy.To further rationalize individual taxation.Strengthening the manufacturing sector along with supporting the micro, small, and medium enterprises (MSMEs).Measures to strengthen the non-banking finance (NBFC) sector as millions of entrepreneurs and MSMEs involved in infra activities depend on the infrastructure / asset financing NBFCs for their credit needs.Single-minded focus on increasing domestic production.Speeding up the process of disinvestment.

Next Story
Real Estate

Marathon, Adani Launch Rs 34 Bn Commercial Project in Mumbai

Marathon Nextgen Realty, in a joint venture with Adani Realty, has announced Monte South Commercial, a major office and retail development in Byculla, Mumbai. With a built-up area of approximately 1.2 million sq ft and an estimated Gross Development Value (GDV) of Rs 34 billion, the project significantly strengthens Marathon’s commercial portfolio in South Mumbai.Monte South Commercial is part of the larger Monte South campus, which includes four residential towers totalling over 1.6 million sq ft of saleable area. Tower A is ready with its Occupation Certificate (OC), Tower B has topped out..

Next Story
Infrastructure Urban

PTC Industries and BDL Form JV for Missile and UAV Propulsion

PTC Industries, a leading manufacturer of high-performance materials and precision-engineered components for Defence and Aerospace, has signed a Memorandum of Understanding (MoU) with Bharat Dynamics (BDL) to establish a Joint Venture (JV) for the design, development, and manufacture of propulsion systems, aero-engines, guided bombs, and loitering munitions for missiles and UAVs, subject to regulatory approvals.The MoU was exchanged during the Lokarpan Ceremony of PTC’s Titanium & Superalloys Materials Plant at the Strategic Materials Technology Complex (SMTC), Lucknow, in the presence o..

Next Story
Infrastructure Urban

J&K Bank Reports H1 Net Profit of Rs 9.79 Bn, Q2 at Rs 4.94 Bn

J&K Bank announced a net profit of Rs 4.94 billion for the July–September quarter (Q2) of the current financial year (CFY), bringing its half-year (H1) net profit to Rs 9.78 billion, up from Rs 9.66 billion in H1 last fiscal. The results were approved by the Bank’s Board of Directors at a meeting held at its Corporate Headquarters.The Q2 performance was moderated by Rs 920 million provisioning towards its investment in Jammu and Kashmir Grameen Bank following the amalgamation of Ellaquai Dehati Bank under the “One State, One RRB” initiative. Total provisioning for H1 stands at Rs 1..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?