The focus is now on improving the business environment by promoting ease of doing business. By arrangement
Rurash’s founder CEO Ranjit Jha feels positive about Budget 2022 and says "It’s a growth-focused budget." The fintech enthusiast is already on the lookout for sunrise opportunities and is hopeful that the "objective" of increasing investment levels will put India onto a higher growth trajectory.
When we asked for a hint of the sunrise opportunities, he told us, "AI, geospatial systems, drones, semiconductors, and the associated ecosystem, space economy, pharmaceuticals, opportunities lie in these industries." He also told us how the Government intends to promote these areas by setting up privately-managed thematic funds and contributing up to 20 percent of the corpus to finance these areas.
As a result of this massive elevation, these avenues are expected to develop skills, generate employment, boost entrepreneurship, modernize India, and help achieve sustainable development. He also believes that creating a robust ecosystem is on its way, thanks to the new players venturing into growing industries like design-led manufacturing for 5G and solar modules.
He further adds, "Besides the new players evolving, another aspect that will promote the private sector participation is the core focus on design and development of military platforms, and equipment through the special purpose vehicle. This will open doors to private players to partner with the Government, thus strengthening the defense sector.
How’s the scenario looking for business?
The focus is now on improving the business environment by promoting ease of doing business. The initiatives that will help achieve this are upgrading IT systems to expedite the process of a company’s incorporation and liquidation and setting up an expert committee to examine issues faced by venture capital and private equity investors and so on. Another resolution that the Government has introduced is keeping income tax rates unchanged for companies, firms, LLPs, and individuals. This measure will help build faith in the stability of the tax environment. Further, to bring parity between listed securities and other capital assets, the reduced rate of surcharge, viz. 15 percent, on the transfer of capital assets has been extended to all classes of long-term capital assets.
He further added, "Another simplification incorporated is in the tariff structure. It’s done by rationalizing exemptions in the notification via the customs tariff rates and promoting domestic manufacturing. The Government has also initiated negotiations with various countries to review the existing free trade agreements (FTAs) to facilitate bilateral trade. These measures are likely to act as an excellent solution to the geopolitical challenges faced regarding duty-free access to the foreign market. All in all, the business scenario looks good."
What’s your overall thought post Budget 2022?
Growth, aspirations, development – the three forces are likely to create ample socio-economic opportunities for various stakeholders and promote India as a preferred investment destination. The initiatives are promising & will help build trust with investors. Whether heading for a solo ride in the market or taking the public-private participation route, opportunities are going to be everywhere for businesses.
Apart from partnering with the leading asset management companies such as JM Financials, IndusInd Bank, Bajaj Finance, BNP Paribas and Orbis Financials etc. Rurash is endorsed by HNIs and Ultra HNIs together with the leading NRI investors and family offices across the globe.
Rurash has an impressive client base and manages about INR 200+ crore worth of assets in just about 3 years. The service umbrella currently covers Investment Products like Stocks and Shares, Unlisted Equity, Dematerialization Services, Loan Against Securities, Loan Against Property, Fixed Income Investments (Corporate FDs and Bonds) etc. For more information, visit https://www.rurashfin.com
Disclaimer: No Deccan Chronicle journalist was involved in creating this content. The group also takes no responsibility for this content.