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Budget 2022 Reactions from
corporate sector: Experts welcome the government's decision.
Presenting Union Budget 2022 in Parliament, Finance Minister Nirmala Sitharaman has announced that the Reserve Bank of India will use blockchain and other supporting technologies in its own cryptocurrency in the next financial year. (Cryptocurrency) or Digital Currency (Digital Currency). However, income from virtual digital assets is taxed at 30 percent. The gift of crypto and digital assets will also be taxed, the finance minister said. Cryptocurrency transactions will take place in the country under the Reserve Bank (Budget 2022 Reactions from corporate sector).
Assets like digital currency
have gained worldwide popularity in the last few years. With the introduction
of the Cryptocurrency (Crypto Tax Budget 2022) exchange, trade in these assets
has multiplied. Until now, however, India has not had a clear policy on taxing
such assets. Therefore, experts welcomed the government's decision.
Energy Transformation and Climate Action and Financing of Investments. The announcements are significant in terms of banking and finance. This proposal is in line with our ongoing digital banking initiatives The most significant budget announcements are the high allocation of capital expenditures and the expansion of the Emergency Credit Line Guarantee Scheme (ECLGS) - especially in the hospitality and related sectors. "
Prathap C. Reddy, chairman of the Apollo Hospitals Group, said: The announcements in the central budget will work not only for the economy but also for the people The announcement of the use of digital in education and skills for all proves that the government is keeping a close eye on the budget. "He added: Encourage more start-ups to come forward and invest in research and development of smart wearable and predictive healthcare services, especially those powered by Artificial Intelligence. This will strengthen our fight against non-communicable diseases. Which could otherwise affect our productive population and derail economic recovery. The proposed National Digital Health Ecosystem will revolutionize services. Universal efforts can be seen in health services like digital registry and health facilities, unique health identity for each person. The announcement of the National Tele-Mental Health Program indicates that the government is keeping an eye on it. Apollo Hospitals is looking forward to contributing to the success of the new ventures. " Universal efforts can be seen in health services, such as individual health identification for each individual. The announcement of the National Tele-Mental Health Program indicates that the government is keeping an eye on it. Apollo Hospitals is looking forward to contributing to the success of the new ventures. "
Kuldip Maity, MD & CEO, Village Financial Services, said, “I would like to commend our Hon'ble Finance Minister for presenting a growth-oriented budget aimed at inclusive development. The growing focus on agriculture and infrastructure and rural areas will stimulate the economy and lay the foundation for the next stage of growth. The agricultural sector is the backbone of the country's economy. Initiatives such as Kisan Drone, Digitization of Land Records, spraying of pesticides and nutrient drones will encourage agriculture. In addition, Expansion of credit scheme is a much needed step for the MSME sector, which is in dire straits. Loans and financial assistance of Rs 5 lakh crore will bring relief to the sector and create employment as well as inspire new business ventures. Support for the Digital Payments Ecosystem is another welcome step. This will further encourage digital payments. "
Suvankar Sen, CEO, Senco Gold & Diamonds, said, The plan to build the structure is a positive step. Which will enable this sector to grow in the country and increase exports. We look forward to implementing it later this year. Reducing the import duty on diamonds will help increase the demand for diamond jewelery in the market Focusing on investment as a whole is positive for the economy. In addition, the review of the Special Economic Zones Act will help increase export infrastructure.
Mukesh Surana of Garware
Technical Fibers Limited said, “The budget presented by Hon'ble Finance
Minister Nirmala Sitharaman is a vision to revitalize the economy with a
greater focus on capital expenditure, infrastructure spending and digital
initiatives. There were many expectations from the budget for the textile
industry. However, not all the expectations were met. We applaud the efforts of
the Finance Minister in managing the revenue deficit and allocating funds for a
truly 'self-reliant India'. "We are still scrutinizing the entire budget.
But I am sure it will help the business grow and the government will take more
positive steps to strengthen the technological textile industry in the years to
come."
Nischal Shetty, founder and
CEO of WazirX, said: "We welcome the government's clarity on taxes.
Overall, it is a matter of great relief that our government is taking a
progressive stance towards innovation. By introducing taxes, the government
gives a lot of legitimacy to the industry. Most people, especially in the
corporate sector, who are sitting on the sidelines due to uncertainty, will now
be able to invest in crypto. Overall, this is a positive step for the industry.
"
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