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Below is Post Budget Comment From Mr. Aryaman Vir, Founder and CEO, MYRE Capital

The FM has presented a largely inclusive, pragmatic, and a balanced budget under the current macroeconomic conditions. The budget lays great emphasis on boosting economic growth and job creation, by allocating a substantial amount towards capital expenditure and also has announced various incentives to support MSMEs, Tourism, boost Regional connectivity and startup sector.

Infrastructure and Investment remains a key priority that will guide us to Amrit Kaal. The Government has provided a strong focus on boosting capex and infrastructure projects with an increased investment to Rs. 10 Lac crore (up 33%), PM Awas Yojana is enhanced by 66% to ?79,000 crore and supporting state driven infra development by offering 50 years interest free loan to states.The next leg of growth of the markets and the economy will be driven by the impetus on digitisation. The Budget is facilitating secure online storing and sharing of documents via. Entity Digilocker with the business ecosystem. The agenda to set up a National Financial Information Registry to serve as a central repository of financial and ancillary information and the setting up of a central data processing centre is well-timed, given the rising threats around data management and security in the industry. This secure expansion of scope of documents will make the system more transparent and accessible for multiple groups.

Startups see an impetus from the Govt. via enhanced limits of MSMEs and professionals in regards to the presumptive taxation. Credit guarantee schemes have been extended for MSMEs. The announcement of 50 additional airports, heliports, water aerodromes, and advanced landing zones to be revitalised will benefit the local communities and lead to development of commercial and residential real estate in these cities.

FM has stated her objective to encourage women investors and has announced the Mahila Samman Saving Certificate scheme offering 7.5% interest for 2 years deposit. The common man is presented with a mixed bag of tax offers – under the new regime, the small taxpayers will benefit from the increasing rebate at INR 7 lakh rupees and is thus encouraged to move to this regime. At the same time, the government. has dis-incentivised those under the old regime with no change in the slabs. Similarly, highest tax payers are now benefitting with a decreased surcharge at 25% from 37%. Additionally, reduced tax slabs under the new tax regime would ensure that the salaried class has some extra money coming this year to support investments and  consumption in India. Overall, this was a balanced budget for the sector and the individual.

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