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
Resources

Skyview by Empyrean is Making Benchmarks in the Indian Ropeway Industry

FIL Industries Private Limited, the parent company of Empyrean Skyview Projects that pioneered ropeway mobility solutions in India with Jammu’s Skyview Gondola, is currently developing the Dehradun-Mussoorie ropeway and is on track to complete Phase I by September 2026. The ropeway is set to be India’s longest passenger aerial monocable covering 5.8 km between the foothills of Dehradun in Purkulgam and MDDA taxi stand in the hills of Mussoorie in just under 20 minutes. The firm pioneered green mobility solutions in India with the development of the flagship Skyview Gondola in Jam..

Next Story
Technology

Creativity is for Humans, Productivity is for Robots!

On most construction sites, the rhythm of progress is measured by the clang of steel, the hum of machinery and the sweat of thousands. But increasingly, new sounds are entering the mix: the quiet efficiency of algorithms, the hum of drones overhead, and the precision of robotic arms at work. Behind the concrete and cables, an invisible force is taking hold: data. It is turning blueprints into living simulations, managing fleets of machines, and helping engineers make decisions before a single brick is laid. This is not the construction of tomorrow; it is the architecture of today – built on ..

Next Story
Infrastructure Urban

Bhartiya Urban Unveils ‘Bhartiya Converge’ GCC Enablement Platform

Bhartiya Urban has launched Bhartiya Converge, its latest business venture designed to become India’s premier platform for enabling Global Capability Centres (GCCs). The initiative offers an integrated ecosystem aimed at helping global clients gain a competitive edge in today’s rapidly evolving business environment. Focused on enhancing turnaround time and operational efficiencies, the company seeks to deliver better business outcomes powered by top-tier talent. Bhartiya Converge presents a customised and integrated suite of microservices that addresses the nuanced and evolving operational..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?