The 2021-22 budget has laid clear emphasis on economic growth and the financial services sector will play a crucial role in achieving the development goals of the government, said George Alexander Muthoot, MD, Muthoot Finance.
Among the several business friendly announcements, some that stood out for us include net rationalisation of customs duty on gold by 2.5% which should bring more gold into the country through official channels and incentivising purchase of affordable homes by extending eligibility period for claiming additional deduction of interest paid of Rs. 1.5 lakh to 31st March 2022.
Increasing FDI limit in insurance to 74% from 49% is another progressive announcement that will bring more investments and activity in this sector. Lastly, reflective of the importance of the MSME sector, the government has provided Rs. 15,700 cr for it, double of last year’s budgeted estimate and we stand steadfast with the MSMEs, individuals and entrepreneurs of India in financing and enabling their Atmanirbhar Bharat ambitions.”
more recommended stories
Home Credit India Concludes Financial Literacy CSR Initiative
NEW DELHI:Home Credit India (HCIN), a.
Usha Felicitates Winner of Usha NIFT ‘Best Garment Construction Award 2023’
KOCHI:Usha International, India’s leading sewing machine.
Godrej & Boyce will Invest INR 100 Crores in its Material Handling Business
MUMBAI:Godrej & Boyce, the flagship company.
Suzlon Announces Strong Q4 and FY23 Results
MUMBAI:Suzlon Group, India’s largest renewable energy.
DP World Cochin Launches New Weekly Service Between India and the Middle East
KOCHI:DP World, a leading global provider.
YES BANK Unveils Refreshed Brand Identity
MUMBAI:YES BANK today unveiled its refreshed.
Bank of Maharashtra Top Performer in NPA Management during FY’23
NEW DELHI:Bank of Maharashtra (BoM) has.
Godrej Interio Partners with KMRCL
KOCHI:Godrej & Boyce, the flagship company.
Adani Group Launches Multi-media, Multi-platform Campaign
KOCHI:The Adani Group, India’s largest and.
ExxonMobil Signs Hrithik Roshan as New Brand Ambassador
KOCHI:Mobil, a global leader in lubrication.