Following the presentation of the Union Budget for 2022, Auditor G.Karthikeyan, the Former President TiE Coimbatore said via a press release that amidst inflationary pressures and global cues, the budget presented today has done a commendable job of providing allocations for start-ups, MSME, health & infrastructure including Gati Shakthi – the national master plan for multi modal connectivity.
“The budget also announced steps to encourage digital banking and gave a fillip to fintech. The move to lunch a digital rupee is praise worthy and in line with the changes taking place across the world in the usage of digital currency and its acceptance. Moreover the budget has also provided clarity on the use of digital currency and taxation digital assets,” the press release said.
“The other steps taken that are worth noting are the change of sunset clause from 2023 to 2024 for new manufacturing companies with a tax rate of 15% and the extension of sunset clause by an year for start-ups for tax exemption. . Amidst all these positives, one must also state that private spending and saving have not received any incentive by way of increase in standard deductions, change in income tax slab rates, reduction for savings etc. Had that been provided as well, it would have been a major boost for the economy hand in hand with government expenditure.”
