Big announcements may come for the industry in the budget to speed up the economy

Finance Minister Nirmala Sitharaman may make big announcements for the industry in the budget to give a boost to the economy. Corporate and industry lobby groups believe the government may announce large-scale spending on healthcare and infrastructure.

Announcement may come for auto, manufacturing and tourism industries

There is also speculation that tax cuts for the automotive, manufacturing and tourism industries could occur. Healthcare and pharma can get good incentives for research and development (R&D) investment. There may be a tax cut. Sudarshan Jain, general secretary of the Indian Pharma Alliance, says that if it does, it will be very good for the pharma industry.

Real estate and infra can get tax relief

Similar tax cuts can be relieved in the real estate and infra sectors. Some relief is expected for home buyers. Also, a regulation can be announced for the rising cost of construction. That is, a regulator can be made to keep the prices of cement, steel, etc. within a fixed range.

PLI’s road map will be ready

Talking about the automotive industry, the production linked scheme (PLI) roadmap can be issued for this. In this, the policies of commercial vehicles can be simplified. However, the PLI scheme has already been announced. Simultaneously there may be some announcements for the manufacture of hybrid electric vehicles and support for its accessories.

ATF tax cut

There may be a reduction in the tax and levy of Aviation Turbine Fuel (ATF) for the aviation sector. It has airport charge, parking charge and landing and navigation charge, etc. Moody’s Indian unit ICRA has expressed such a possibility.

Tourism and Hospitality also have expectations

Liquidity support may be available for tourism and hospitality. There may be a decision on less collateral for loans and at least 6 months moratorium. In case of personal tax can be exempted for domestic travelers. Talking about retail, a national retail policy can come. This will help online sellers. In this, e-commerce and physical retail will be brought under the policy.

Bad bank will also be made

Similarly, to deal with the increased bad loans (NPAs) of banks in Corona, the government may announce a bad bank. This discussion has been going on for a long time. For this, the government can announce regulations and others in the right way. Also, money can be announced for public sector banks. Public sector banks need about 43 thousand crore rupees at this time.