Budget 2021 is forward-looking and seems to be an unprecedented one, which will strengthen the vision of Atamnirbhar Bharat. Reforms across sectors have been brought forth, which if executed well, will put India on the fast track to becoming the fastest growing economy in the next FY. The budget reveals the GST collection at an all-time high - indicating strong economic recovery, while the PMI index at 57.7, 6th consecutive month of expansion. Support to MSMEs sector continues to be strong with the custom duty rationalization, and the Start-up community is likely to boom again given the tax holiday extension and rule relaxations around it being set up. India has fast adopted the digital way of doing things from e-mandis to e-courts, and to further augment this trend it's a good move to incentivize digital adoption and get the grassroots to have a digital-first mindset. |
