The pandemic had brought unprecedented effects on the Indian economy. And thus, the manufacturing sector has to grow in double digits on a sustained basis. Schemes, provisions, and allocations are made to ensure a smooth supply chain, cutting-edge technology, and core competence.

This, if executed, will help in scaling up the potential and the size of every industry, thereby creating employment opportunities for youth. Segments like textile, infrastructure, asset monetisation, petroleum and natural gas will receive investment. An increase in the capital budget will help in improving roads and highways, railways, urban, power infrastructure and the condition of the ports, shipping, and waterways. Further, supporting the development of a world-class Fin-Tech hub at the GIFT-IFSC and consolidating the provisions of SEBI Act, 1992 will instill confidence among the market stakeholders. Provisions like increasing FDI in the insurance sector, recapitalisation of PSBs, decriminalization of the Limited Liability Partnership (LLP) Act, 2008 will benefit companies in their compliance requirements. Investment in agriculture and education will help in making the backbone of the Indian economy stronger. Improving the plight of the migrant workers and labourers is of utmost priority.

This, if executed, will help in scaling up the potential and the size of every industry, thereby creating employment opportunities for youth. Segments like textile, infrastructure, asset monetisation, petroleum and natural gas will receive investment. An increase in the capital budget will help in improving roads and highways, railways, urban, power infrastructure and the condition of the ports, shipping, and waterways. Further, supporting the development of a world-class Fin-Tech hub at the GIFT-IFSC and consolidating the provisions of SEBI Act, 1992 will instill confidence among the market stakeholders. Provisions like increasing FDI in the insurance sector, recapitalisation of PSBs, decriminalization of the Limited Liability Partnership (LLP) Act, 2008 will benefit companies in their compliance requirements. Investment in agriculture and education will help in making the backbone of the Indian economy stronger. Improving the plight of the migrant workers and labourers is of utmost priority. The incorporation of one-person companies, with no restriction in paid-up capital and turnover, along with an update of the definition of small companies under Companies Act, 2013, revision of the definition by raising the capital base from Rs 50 lakh to Rs 2 crore and encouragement for the increasing number of entrepreneurs in India by reducing the residency limit for any Indian from 182 days to 120 days are indications of a welcoming change. This will increase capitalisation and boost the startup ecosystem. However, from a startup point of view, there still remains ample scope for new schemes and changes. Direct tax benefits were also announced. Tax relief to senior citizens, for 75 years and above, having only pension and interest income, exemption from filing ITR, serious tax evasion cases, where evasion evidence is Rs.50lac or more than reopening within 10 years to making possible the approaching of the committee for anyone with total income less than 50 lacs and disputed income less than 10 Lacs and many others are positive changes. Thus, the budget encompassing some of the major industries, if implemented, will help in driving economic growth.