Union Budget 2022 Live Updates: Incentives For Green Hydrogen Likely; Icai Seeks Tax …

Union Budget 2022 LIVE updates: The budget is two days away and industry experts from across the spectrum share with CNBC-TV18 what they expect, need and hope from the Union Budget for the 2022-23 financial year.

Ahead of the Union Budget 2022-23, industry body CII on Sunday pitched for additional incentive rates to be included in the Production Linked Incentive Schemes based on the number of jobs created.

We expect Credit Fair’s focus sectors of Healthcare, Housing and Education to get policy support from the government as they’re key to improve our social infrastructure as well as for job creation.

The government should look at according priority status to the healthcare segment while increasing the public expenditure on the sector to at least 3 per cent of the GDP in the upcoming Union Budget.

Earlier this month, Power and New & Renewable Energy Minister R K Singh had indicated that a green hydrogen policy will be unveiled in February which would feature many incentives to boost green hydrogen in the country.

The Centre might announce the formation of the Goods and Service Tax Appellate Tribunal in the Union budget next week.

The Institute of Chartered Accountants of India for consideration, he said on the sidelines of an international conference of CA students.

The auto sector in India being one of the top contributors of GDP, is once again pinning hopes on the upcoming Union Budget 2022 for some strong and fruitful reforms. Considering, the government has laid stress on localisation, it is expected that there will be a plan of phased increase in the custom duty rates on AAT products and ACC.

This budget has been a big topic of discussion within the travel industry, especially with the numerous policies that can truly aid its growth.

Half of the GCCs worldwide are currently based in India, employing more than 1.3 million people, generating more than $35 billion in revenue and contributing more than $100 billion to the GDP.

However, to realise the potential, GCCs would need support in areas of infrastructure and skill development, consistent taxation policies and an innovation ecosystem,” says Gaurav Gupta, a partner with Deloitte India.

It analyses India’s economic development over the previous fiscal year by offering comprehensive statistical data on all sectors including manufacturing, agricultural and industrial.

Through the course of 2021, the industry experienced losses of around $2.4 trillion, which is why it has become more important than ever, for the government to take the appropriate measures to improve the standing of companies within this sector, especially with the contributions it makes to the Indian GDP.

Years of underspending have led to the lack of robust infrastructure in these areas.

Budget 2022 is around the corner and there are expectations that the government’s reform agenda will get a significant push and that there will be measures to support foreign investment.

The Union Budget next month is likely to bring tax SOPs for start-ups.

The proposal in particular is aimed at the organised service and retail segments.

The Centre might announce the formation of the Goods and Service Tax Appellate Tribunal in the Union budget next week, a report in Hindustan Times said.

The Union Budget 2022 should aim at long-term holistic growth for the auto industry prioritising job creation, infrastructure development, introduction of latest technologies and increased decarbonisation efforts, luxury carmaker Mercedes-Benz India said on Friday.

According to the poll, a majority 54 percent of CEOs expect growth to hover around the 7-8 percent mark this fiscal, while 32 percent expect growth rate to be above 9 percent.

…Read the full story