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Budget 2023 Expectations LIVE News Updates: Extension of Affordable Housing Sops on Homebuyers' Wishlist

Budget 2023 LIVE: Budget 2023 News Live Updates, Railway Budget, What Happens After Halwa Ceremony, Union Budget to be presented by finance minister in the Parliament on February 1.

By: Business Desk

Last Updated: January 30, 2023, 14:15 IST

New Delhi, India

Union Finance Minister Nirmala Sitharaman at the Plenary Meeting of the International Monetary and Financial Committee at the IMF Headquarters in Washington DC (Photo by @FinMinIndia)
FM Nirmala Sitharaman (File Photo)

Union Budget 2023-24: The Budget for the financial year 2023-24 will be presented after two days on February 1. The Budget is expected to announce relief to the middle class and different sectors of the economy. The Budget 2023 speech of Union finance minister Nirmala Sitharaman will be keenly watched not just in India, but across the world considering India’s impact on global economy and the nature of globalised trade.

Notably, Budget 2023 is going to be a full-fledged budget of the Modi government before the Lok Sabha elections in . Read More

Jan 30, 2023 14:15 IST

Budget 2023 Expectations From Real Estate Developers

Amarjit Bakshi, CMD of Central Park, said, “In Budget 2023, to incentivise home purchases, the government must consider raising the tax deduction limit for interest on housing loans to Rs 5 lakh from the present limit of 2 lakh per annum for all homebuyers. The government must establish city-wise unit size criteria for housing to factor in the realities of the micro market so that a lot of homebuyers can purchase homes.”

Ankit Kansal, Founder & MD, 360 Realtors, said, “This Budget, the real estate is looking forward to more industry-centric policies for the sector. Already the demand is booming in the sector and the industry wants the governing agencies to take concentered efforts to further enable growth. The government should increase the limit of claiming an income tax deduction, under the home loan interest policy. Presently, it is Rs 2 lakh and should be increased to Rs 5 Lakh. Likewise, capital gain taxes can be reduced to further boost demand.”

Nayan Raheja from Raheja Developers, said, “We have high expectations from Financial Budget this year. The Budget should focus on alleviating the real estate sector from ongoing problems. The Finance Ministry should take stock of the insolvency debts of realtors and delays in project deliveries. The Budget should introduce tax remissions on the interest rates of home loans levied by banks which have been triggered by the all-time high inflation rates in previous quarters.”

Ashwani Kumar from Pyramid Infratech, said, “One of the most consistently voiced Budget 2023 demands is upsurging the limit for deduction for principal repayment of housing loans which is currently capped at Rs 1,50,000, to bolster residential demand and encourage buyers to invest in homes.”

Rajesh K Saraf, managing director of Axiom Landbase, said, “The Budget 2023 demand for increasing the price cap of affordable housing projects seems fair and justified. This will pay dividends for both buyers and developers. The developers assured of certain benefits are more likely to develop affordable housing projects, which will cater to mid-income level buyers.”

Aman Sharma, director of Spaze Group, said, “The Budget 2023 should reflect upon the aspirations of developers who are still tiding over the turbulence caused by the pandemic. The most crucial demand is to give tax relief to developers to expedite the completion of stalled projects and take a compassionate recourse in times of difficulties.”

Deepak Kapoor, director of Gulshan Group, said, “The Budget 2023 should mirror the aspirations of the realty sector and support growth-inducing factors. The government should help distressed developers and allocate funds for the completion of stuck projects.”

Dushyant Singh, director of Orion One32, said, “There is also a strong demand in favour of providing industry status to the real estate sector, which would also approbate taking easy loans and financial amenity assurances from banks. An apparatus of single-window clearance should be set up to augment the real estate sector’s growth in the right direction.”

Salil Kumar, director (marketing & business management) of CRC Group, said, “Among others, we are also looking up to the government to take steps to decrease the input costs such as steel and cement, along with fuel costs.As far as tax incentives are concerned, the sector is batting for sops to the home buyers, friendly provisions under capital gains tax investor and increasing tax concessions to home buyers among others.”

Ashwinder R Singh, CEO (residential) of Bhartiya Urban, said, “Basis Section 80IBA, a 100 per cent tax break for affordable housing projects was available for projects that received approval until March 31, 2022. Developers were able to claim this tax exemption on earnings under the terms of this section, provided they met a number of qualifications, including the approval deadline.”

Harvinder Sikka, managing director of Sikka Group, said, “With the NITI Aayog forecasting the Indian real estate sector to reach a market size of $1 trillion by 2030, the long-term prospects of the realty remain high. We are looking to the government to decrease the input costs of steel, cement and fuel. Other than these, we need to push for affordable housing and devise tax incentives to help the country realise its housing dreams.”

Jan 30, 2023 14:02 IST

Budget 2023 Expectations From Various Sectors

Clean Energy Sector:

Gautam Mohanka, managing director of Gautam Solar, said, “The entire renewable energy sector witnessed a major push towards the promotion of clean energy and the country’s endeavour to reduce the overall carbon footprint during Budget 2022, which catapulted the production and manufacturing of solar energy and energy storage facilities across the country. The industry stays further optimistic ahead of the Budget 2023, with loads of expectations to become the driver of the country’s sustainable economic growth. We are looking forward to the PLI scheme to include the MSME sector , solar manufacturing in India will receive further boost for the same. In the Union Budget this year, we also look forward to a significant reduction in the interest rates for the industry.

Ankit Mittal, co-founder & CEO of Sheru, said, “The clean energy sector hopes to see policies and incentives from Budget 2023 that drive forward the energy transition. We think three moves could help that – Moving subsidies from residential electricity prices towards solar rooftops. This would help in reducing overall electricity use, speed up the rollout of solar energy, while resulting in lower bills for consumers.”

Mobility Sector:

Suyash Gupta, director general of Indian Auto LPG Coalition, said, “The government’s commitment to a cleaner and greener economy has indeed been evident from the flurry of pledges that it has taken as well as the promises that it has extracted from other developed countries in the context of the successive UN-led Conference of Parties on environment held every year.

“While all this is laudable, in the coming budget, the government needs to give further stimulus to alternative fuel-based transport options. So, reducing GST on auto LPG as well as on LPG conversion kits in the budget 2023-24 would be a highly desirable step in that direction. In addition, the type approval norms for conversion kits need to be relaxed in the budget which would in turn catalyse the retro fitment market, again a necessity for increased and instant auto LPG traction for a viable, cleaner mobility,” he said.

Nitin Kapoor, managing director of Saera Electric Auto, said, “”There are a host of expectations by the players in the electric vehicle sector from the government in the Union Budget 2023, including an extension of the Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME-II) scheme beyond 2024 and a substantial reduction of goods and service tax (GST). Under FAME-II, PLI (production-linked incentive) schemes totalling Rs 44,038 crore were announced during Budget 2022-23, including for ACC batteries.”

Kapoor added that the industry stays optimistic that the government will consider reducing the GST on Advanced Chemistry Cell (ACC) batteries on par with EVs. To further enable a faster penetration of electric vehicles on Indian roads, the government needs to focus on lowering interest rates for EV financing and standardized residual battery value calculation. The government should also consider focusing on creating awareness about the vehicle scrappage policy to encourage the phasing out of end-of-life vehicles and drive EV sales. Considering the lack of enough charging points in the country, the 2023 budget should be focused on drafting strategies to create a robust EV battery charging infrastructure in the country with specific grants for research and development (R&D) of advanced batteries.

Ankit Mittal, CEO of Sheru, said, “There are two changes that we think would benefit the sector as a whole. The first is bringing about uniformity of GST for battery swapping. Though EVs are in the 5 per cent category, battery swapping service is at 18 per cent. Bringing about this uniformity would ensure a level playing field for the technology as well as quicken the rollout of EVs.”

Mittal added that secondly, as with PLI on Advanced Chemistry Cell (ACC), there could be a similar one on manufacturing of electronic components for EVs in India. Currently, a lot of these components are being sourced from outside the country and this increases costs while leaving the supply chain vulnerable to shocks. For India’s EV sector to establish itself for the future, ensuring localization of components is key.

Co-Working Sector:

Aditya Mehta, CEO & co-founder of Akasa Co-working, said, “While the acceptance and popularity of the shared office spaces have been at the rise, our expectations from the government’s Union Budget is primarily to get some tax benefits on leasing and renting. We also expect that there should be a renewed focus on sustainability, which has been the foremost priority of the co-working spaces.”

Fintech Sector:

Mahesh Shukla, CEO & founder of PayMe, said, “The foremost expectation of the fin-tech players is the liberalization of the tax regime, i.e., reduction in startup taxes across the board with No GST until INR 10 crore turnover annually; which will significantly help small and medium enterprises (SMEs) build a stronger economy and aid more jobs. We also expect enhanced support from the government for better partnerships with banks to strengthen the existing model of financing. The Reserve Bank of India (RBI) can revamp the regulations further to govern the fin-tech sector, which can bring in more transparency and will boost up the digitalization of the lending processes across the country, including in the rural areas.”

Jaya Vaidhyanathan, CEO of BCT Digital, said, “The upcoming budget presents a unique opportunity for India to leapfrog in the global economy. Despite the grim economic outlook caused by the ongoing global slowdown and early signs of a resurgence of the COVID-19 pandemic, the budget can be used to push India to pole position among other global giants, provided it can project a healthy domestic picture.”

Kalpana Ajayan, regional head (South Asia) at Women’s World Banking, said, “Budget 2023 must ensure the implementation of financial capability of girls and women through school curriculum or national campaigns to create financially literate customers.”


Gaurav Bhagat, founder of Gaurav Bhagat Academy, said, “In the upcoming union budget, the finance minister should focus on avenues that will help aid in the employability of young talent. While focusing on the technology sector has always been a priority, I would love to see initiatives in the manufacturing, sales and finance sector as well. I have no doubt that a big opportunity lies in the area of manufacturing in the years ahead as we gain more recognition as an alternative to Made in China.”

Sandipan Chattopadhyay, CEO & MD of Xelpmoc, said, “India has observed a phenomenal digital transformation over the past few years. Digitisation across sectors has to lead to the innovation of popular concepts such as Metaverse & Web3. The Industrial Metaverse is expected to take the lead because of the widespread digitalisation of big manufacturing centres and the step-by-step enhancing infrastructure, which includes the Industrial Internet of Things and Digital Twin technologies. In reaction to the growth of metaverses and the developing sophistication of virtual simulations used to generate products, the virtual dual era will enhance broader deployment and deeper operations. And, looks like the time is near when production corporations will immerse themselves within the metaverse`s massive potential. Additionally, because it allows for the transferability of digital assets and verifiable claims of ownership, blockchain technology is now anticipated to play a significant part in the development of the metaverse.”

Jan 30, 2023 13:14 IST

Budget 2023: What Startups Expect From FM Sitharaman?

In the 2023 budget, an emphasis and boost should be given to such upcoming fin-tech start-ups which can assist PE and VC funds to invest as well as exit from their investments.

Currently, unlisted stock held for longer than 24 months is subject to a higher LTCG tax than listed equity shares held for a full year. Unlisted stock investments are subject to a 20% LTCG tax, while listed stock investments are subject to a 10% tax.

-Manish Khanna, Co-Founder, Unlisted Assets.

Jan 30, 2023 13:09 IST

Budget 2023 Expectations: 'Govt Schemes To Make Smartphones Accessible To Students And Women To Drive Demand Across Sector'

Muralikrishnan B, President, Xiaomi India, said, “India is on the path to becoming a digital powerhouse, and the smartphone industry has rapidly evolved to support this journey. The focus on Make in India and the Production Linked Incentive scheme has provided the much-needed impetus to the industry and put it on the global map. With the upcoming budget, we look forward to policy initiatives targeted toward the components supply chain ecosystem that can help increase self-reliance and boost the economy. We are hopeful to see an enhanced push from the Government to empower start-ups and industry players to build relevant use cases that highlight 5G’s real-life use cases, which will drive rapid adoption of 5G. To drive greater Digital inclusion, we would be thrilled to see some Government schemes to make smartphones accessible to students and women to drive demand across the sector. We are confident that with the appropriate policy measures, the Union Budget 2023-24 will help accelerate India’s Techade.”

Jan 30, 2023 13:02 IST

Budget 2023: Meet Nirmala Sitharaman's Budget team

Budget 2023: Meet Nirmala Sitharaman's Budget team
Nirmala Sitharaman’s Budget Team – Finance Minister Nirmala Sitharaman will present the budget in Parliament on February 1. Here’s a look at the team behind the preparation of the Union Budget 2023.
Jan 30, 2023 12:58 IST

Budget 2023: Hospitals Urge Govt to Focus on Reducing GST

According to Raj Gore, CEO, Healthcare Global enterprises Limited, to encourage investment in cancer hospitals and reduce the cost of treatment for patients, the government must reduce customs duties and GST on critical capital-intensive equipment, reagents/consumables used for cancer diagnostics, and anti-cancer drugs.

Jan 30, 2023 12:56 IST

Budget 2023 Expectations: 'Lower Taxes For Retail And FMCG Sectors'

Samir Kumaar Modi, Managing Director, Modi Enterprises, said, “As per reports, the Indian retail industry contributes to around 10% of India’s GDP with a market size pegged at approximately $1.2 trillion. Factors like ongoing technological and digital updates, new mediums of digital payments and the development of logistical support have been steady growth drivers for the Indian retail sector. To ensure the growth of the sector, the Union Budget for FY 23–24 should focus on generating demand and spurring consumption by offering benefits or concessions in the form of lower taxes for the retail industry and FMCG sectors to boost the overall consumer sentiment. The government must also look at expediting the timelines for the amendments to the National Retail Trade Policy (NRTP) aimed at modernising and digitising retail trade to improve the ease of doing business, especially for small retailers.  The retail industry is exhibiting a healthy recovery and these measures coupled with increased consumer spending can certainly aid the industry to sustain its growth momentum in the years to come and at the same time fulfil our Prime Minister  Narendra Modi’s dream of Aatmanirbhar  Bharat.”

Jan 30, 2023 12:55 IST

Budget 2023: What Startups Expect From FM Sitharaman?

Startups currently have taxation benefit u/s 80 IAC where they can take rebate for any 3 out of 10 FYs. However, this was applicable only for eligible startups and incorporated till 31.03.2023. This could be further extended by one more year.

There should be a single window for all relevant registrations like company incorporation, shop establishment, goods and services tax (GST) registration, MSME (micro, small and medium enterprises) certificate etc. That will help startups save considerable time, effort, and money. In line with the National Single Window System, that has been started recently, something similar for the startups would help too.

About 90% of the total investment for start-ups in India comes from VC firms, angel investors, and incubators/accelerators. There are approximately 364 venture capital funds active in India (SEBI, 2014). The number could reach 480 if the non-SEBI registered ones are included (Venture Intelligence, 2013). Only in academic settings have there been established about 180 business incubators. Today, a number of angel networks are actively running out of India’s main start-up clusters.

-Krishna Raghavan, Founder at Unlistedkart


Jan 30, 2023 12:52 IST

Budget 2023: 26% Want Lower Personal Income Tax Rates By 5% Across Slabs, Says Report

Budget 2023: A latest survey has highlighted that 26% people believe that the finance minister should lower personal income tax rates in the upcoming budget by 5%. In addition, 25% want the exemption limit to be raised beyond 2.5 lakh. READ FULL STORY

Jan 30, 2023 12:47 IST

Budget 2023 Expectations: 'Budget Must Encourage More Investments In Logistics Sector'

Amit Maheshwari, Founder and MD, Softlink Global, said, “The Logistics sector is regarded as the backbone of the Indian economy and contributes significantly to the GDP. Hence, the budget must encourage more investments in this sector. It is important to focus on the execution of specific strategies that will help to implement the National Logistics Policy (NLP) with an aim to make India competitive globally while being ‘Atmanirbhar’ in this sector.

SMEs must be encouraged to adopt technology such as SaaS solutions, which will help reduce the cost of logistics. SaaS-enabled logistics will help SMEs grow and scale their operations while reducing IT costs, infrastructure overheads, and costs associated with operations and warehouse management. A welcome move would be for this Budget to offer tax deductions for investments in technology-related services for SMEs which would have a domino effect with more businesses being encouraged to make the digital transformation.”

Jan 30, 2023 12:46 IST

Budget 2023 Expectations: Tax Sops for Agritech Startups

The government should in this year’s Budget enhance cash assistance given to farmers under the PM-KISAN scheme from the current Rs 6,000 per year for purchase of crop inputs, provide tax incentives to agritech startups and cut import duties on agrochemicals, according to industry experts. The government should in this year’s Budget enhance cash assistance given to farmers under the PM-KISAN scheme from the current Rs 6,000 per year for purchase of crop inputs, provide tax incentives to agritech startups and cut import duties on agrochemicals, according to industry experts. There is also need to announce some incentives to farmers as well as agrictech startups for faster adoption of technologies, like artificial intelligence, precision farming and drones, in Indian agriculture sector.

Edible oil industry body SEA has demanded that a national mission should be launched to increase oilseeds production and reduce imports of cooking oils.

Jan 30, 2023 12:42 IST

Budget 2023: Govt needs to shell out Rs 1.8 lakh crore for 100 days of MNREGA jobs

The government will have to shell out nearly Rs 1.8 lakh crore in the forthcoming Budget in order to provide 100 days of work to every household registered under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MNREGS), as per a TOI report.

Jan 30, 2023 12:23 IST

Budget 2023: Extension of Affordable Housing Sops on Homebuyers' Wishlist

Harpreet Sing Singh is Partner – Indirect Tax, KPMG in India, said: “With regard to direct tax incentives, the existing 100 per cent profit-linked deduction on affordable housing projects, applicable to projects approved by March 31, 2022, may be extended to all housing projects and even for upcoming projects. Similarly, the provisions relating to the allowability of a 100 per cent deduction on capital expenditure incurred on affordable housing projects may be extended to all commercial and residential RE development projects.”

“The present provisions incentivise only affordable housing projects and complement the benefits available to similar projects under the Pradhan Mantri Awas Yojna, geared towards the mission of housing for all. Extending these incentives to all housing projects will simulate fresh investments in the sector by significantly improving the return on investment for developers and investors, which has fallen due to high input and finance costs,” he added.

Jan 30, 2023 12:01 IST

Budget 2023 Expectations: 'Discover And Make in India'; Will Pharma Sector Get R&D Push?

Ahead of the Union Budget 2023-24, the pharmaceutical sector has highlighted the need for a comprehensive research and development policy. R&D in healthcare requires substantial investments over a long period of time. READ MORE

Jan 30, 2023 11:43 IST

Budget 2023 Expectations: Will Post and Indian Railways Help Expand E-commerce In Bharat?

As the Budget 2023 is going to be presented after a day on February 1 by finance minister Nirmala Sitharaman, the e-commerce industry is also seeking some announcements which are expected to help the sector and the economy. READ MORE

Jan 30, 2023 11:36 IST

Budget 2023 Expectations: 'Automate Compliance Requirements For Start-ups'

Shankar Prasad, Founder & CEO, Plum, “In terms of the budget expectations, I would broadly look at three areas- the first one being urban infrastructure. I think as a country we are doing a good job with highways and high speed trains but when it comes to companies getting to work in a city like Mumbai having the infrastructure sorted for people to just come in and go out, users face everyday pain. So, if we can do something to accelerate that will be a good start off. The second one is making import and export easier for especially in the beauty and personal care category. Adding on the same, even export is a bit of a paperwork heavy exercise today which needs to be simplified. Lastly the compliance burden for start-ups, even for smaller start-ups it is quite high and there doesn’t seem to be a movement towards simplifying things by using data at an overall level. So, if we can automate some of the compliance requirements, it is definitely going to help start-ups quite a bit and help them focus on growth instead of filling up forms.”

Jan 30, 2023 11:15 IST

Budget 2023 Expectations: 'Policy Measures Towards Developing Startup-Clusters'

Madhusudan E, Co-Founder and CEO, KreditBee, said, “Union Budget 2023-24 is a crucial one, in supporting India’s sustainable growth. It is essential that the budget heeds to the progress of the startup ecosystem. Policy measures towards developing startup-clusters, which promote easy access to capital, incubator programs, federally funded R&D activities, among others will surely assist startups. The growth of the startup sector also depends upon clearer regulations and streamlining the process of obtaining licenses. There are certain benefits which are extended to the Inter-Ministerial Board (IMB) certified startups and not the DPIIT-recognised start-ups. The IMB certifications are difficult to get as 99% of Indian start-ups are not recognised by IMB.”

Jan 30, 2023 10:58 IST

Budget 2023 Expectations: 'An Increase Allocation In The Healthcare Sector Is The Need Of The Hour'

Anushka Iyer, Founder and CEO, Wiggles, said, “With the 2023 budget, we expect an increase in the healthcare sector which is the need of the hour, especially for animals and some species that are on the brink of extinction. The healthcare sector is important for both humans and animals. The first and foremost area that needs to be focused on is an increase in financial support for veterinary services. A substantial budget will foster an environment that pushes more people towards creating quality services that can serve both pets and community animals. It shall also help veterinarians to provide better treatment. Secondly, there must be a concerted effort towards education and sensitization for all, not and not limited to the younger generation. Everyone should be educated on the simplest way to approach or help a pet and community animal. Sharing the same envirnoment, it’s important that government should lend support in creating animal-friendly neighbourhoods that ensure animals are safe and healthy like human beings. Think of this as a green city equivalent for animals, which requires funding and intent.”

Jan 30, 2023 10:39 IST

Budget 2023 Expectations: 'Road, Railway And Urban Infrastructure To See Meaningful Allocation'

Avinash G Singh, Senior Vice President, Aranca, Investment research, said, “One of the biggest events in focus in India at the start of any year is the presentation of the Union Budget by the Finance Minister on February 1. This year, it also marks the pre-election year budget given that India’s general elections are slated for 2024. Usually, pre-election year budgets tend to be populist with schemes and policies targeted at the general public at large. However, we do not expect such an approach this time around. We believe the government will present a growth-focused spending plan, maintaining the impetus on investments in infrastructure development. We, therefore, see the road, railway, and urban infrastructure sectors to see meaningful allocation as the significant beneficiaries of the budget. In addition, we expect healthcare, education, and rural housing to be the other major sectors likely to benefit from increased allocation of funds. India has recently made aggressive plans to achieve a sizable contribution from renewable power sources such as solar and wind. We believe the budget will have a special mention of India’s long-term roadmap toward achieving its targeted renewables capacity in addition to potential tax benefits awarded to the industry. Finally, we also expect the union budget to focus on the government’s investments in the use of technology in the form of artificial intelligence, machine learning, and internet of things (IoT).”

Jan 30, 2023 10:33 IST

Budget 2023 Expectations: 'Drone Industry Needs Access To Finance, Insurance And A Regularized Import Policy'

Arjun Naik, Founder & CEO, ScanDron, said, “Drones bring increased Safety, Economy, Efficiency and Accuracy across a myriad of Industrial Verticals including Energy and Construction and Infrastructure. Drones are ideal tools for tracking and monitoring construction and infrastructure projects as they enable for quick accurate measurements at heights and inaccessible locations and also cover large areas in a relatively shorter time. The government has taken cognizance of this and has taken significant regulatory strides towards liberalizing and normalizing the use of drones for industrial and commercial applications. As the fledgling Make In India Drone Industry takes flight, challenges remain in terms of import of critical components, finance and Insurance.

In the upcoming budget the industry needs support in terms of access to finance, insurance and a regularized import policy for critical components such as Batteries, Engines, Flight Control Electronics, Motors and Engines, which are still not available under Make in India. Standardised import policy for drone components will allow for faster technological adoption and Indianization of Drone components. Better and easier access to capital finance markets, liberalized investment policies and access to insurance will allow the Make In India drone industry to take major leaps towards maturing and becoming a sustainable mainstream industry.”

Union Budget 2023-24: The Budget for the financial year 2023-24 will be presented after two days on February 1. The Budget is expected to announce relief to the middle class and different sectors of the economy. The Budget 2023 speech of Union finance minister Nirmala Sitharaman will be keenly watched not just in India, but across the world considering India’s impact on global economy and the nature of globalised trade.

Notably, Budget 2023 is going to be a full-fledged budget of the Modi government before the Lok Sabha elections in 2024.

Meanwhile, days ahead of the Union Budget 2023, Prime Minister Narendra Modi on Sunday chaired a meeting of the Union Council of Ministers in New Delhi.

The meeting is the first to be held for the Union Council of Ministers in 2023.

Reportedly, the working of several ministries and policy initiatives taken by the government was reviewed and discussed.

Demands for tax incentives, changes in income tax slabs, tax rebates, curtailing inflation, benefits in home loan interest are a few expectations which may find mention in the speech of the finance minister.

Ahead of the annual budget presentation, US-India Strategic and Partnership Forum (USISPF) has urged FM Sitharaman to simplify and rationalise the direct and indirect taxation system in India.

This is a move USISPF believes would increase the confidence of global investors and yield greater foreign direct investment.

Within the Indian economy, sectors like real estate, healthcare, MSME, pharma and education, to name a few, have highlighted their respective demands on various public forums.

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