Chennai: The Goods and Services Tax (GST) is likely to hit makers of tractors and ultimately farmers who buy them. The inputs and accessories of a tractor now attract a total tax of 17.5% now (central value added tax (Cenvat) of 12.5% plus state VAT of 5%). About 70% of the inputs that go into [&…
Tag: Union Budget
Overall positive budget, but start-up sector hoped for more
The Union Budget for 2017-18 was presented amid high expectations in the wake of the impact of demonetisation. With the government focusing on boosting the start-up sector, the industry was hoping for the Budget to help improving the ease of doing business for the start-ups. Increased tax exempti…
There was never a better time for small business to think big!
The 2017 Union Budget of India has laid a lot of emphasis on small business (Start-ups & SMEs) and announced a number of initiatives which will benefit them greatly. From lower tax rates to larger availability of credit. Announcement of large scale infrastructure development across farm and d…
Incentives for MSME sector expected to result in credit bank for start-ups
The incentives announced for the MSME sector in this year’s Budget, combined with the entire windfall from demonetisation, is expected to result in increased credit uptake and could take the form of a credit bank for start-ups. “Whether it will be in terms of an institutional formation such as a …
Union Budget 2017 provides big boost to textiles sector; Here’s why
Higher fund allocation for labour skilling and end-to-end logistics solutions, including rail and coastal shipping last-mile connectivity, will help the country’s textile industry to achieve the $350-billion target in next few years as set by the union government, industry experts have said. Thou…
Arun Jaitley’s Union Budget didn’t address key concerns of start-ups & SMEs
Budget 2017 has provided tax exemptions to small and medium scale enterprises (SMEs) and start-ups. SMEs got a drop of five per cent on the tax rate, which according to Finance Minister Arun Jaitley, would benefit 96 per cent of businesses. However, what it doesn’t do is to come up with an energi…
Budget 2017: Fails to assuage key concerns of start-up community
New Delhi: With falling investments and failing startups, the startup world was hoping for the government to take away the main pain points of its industry. While a few concerns were addressed by the Finance Minister Arun Jaitley during his Union Budget speech in the Parliament, the larger issues…
Budget 2017 to focus on rural economy, skill development & incentives for cashless transactions: Dun & Bradstreet
Q-induced shock has derailed the consumption growth story and Budget 2017 is likely to focus on rural areas and agriculture to revive the economy, says Dr Arun Singh, Lead Economist at Dun & Bradstreet. Online’s Smriti Jain, Dr Singh talks about what Finance Minister Arun Jaitley should focus…
India lacks backbone for less-cash economy | Gopal Jiwarajka, President, PHD Chamber
Small and Medium Enterprises (SMEs) have not only taken a big hit after demonetisation, they have been suffering from government policies that incentivise them to stay small, says Gopal Jiwarajka, the President of PHD Chamber of Commerce and Industry (PHDCCI), in an interview. Jiwarajka says the …
Budget2017: Online payments may get cheaper with tax rebates in offing
Payments through digital channels including internet banking, debit card and credit card are likely to become cheaper. The Union Budget, which will be presented on February 1, is likely to announce tax rebates on such transactions. Currently, payments ranging from restaurant bills to booking a ai…