“It’s a completely new bill. It’s been rewritten … it’s the same (tax rate).” Pandy was quoted.
Later, while giving a lecture at the FICCI conference on the Union Budget 2025-26, Pandey emphasized that the budget design would guarantee growth without inflation pressure.
“If you display the numbers, there is nothing hidden in other places. The overall borrowing will be compatible. There is nothing better than this. It is a huge budget,” he said.
The 15.48 million Rp Pee Program in FY2025 includes a direct central government expenditure of 11.21 million and 4.27 Rark Clear, a subsidy for the country for capital projects. He said the government has exceeded the fiscal integration goal, achieving a 4.8 % deficit of 4.9 % forecast for this year, and planning to reduce the next year to 4.4 % in the next fiscal year. 。
The Union Budget 2025-26 is trying to balance the demand and the supply of the supply side focusing on the supplier’s order. Pandy pointed out that the stimulus provided within the budget promotes growth while promoting the stability of the macro economy.
The budget returns 1 trillion in middle classes designed to work through market mechanisms, rather than direct government expenditures.
“Regardless of whether citizens save or consume these funds, both results will benefit the economy -savings will enhance the liquidity of the bank, but the consumption benefits are expanding throughout the industry.” Pandi explained.
As a whole, the theme of the budget was a fair growth, first trusting, stimulating the economy, teaching and encouraging the entrepreneurian spirit.
During the meeting, Ravi Agrawal, the chairman of the Central Direct Tax Committee, implied the fundamental change in the tax management approach and emphasized a new “cautious” framework. Equipped the environment, use non -invasive management and transparent technology.
“It’s no longer a hostile tax department. It’s a participating approach to improve economic growth and governance,” Agrawar said.
The main initiative includes the extension of the updated return window from two to four years, submitting an updated return of about 9 million in the past two years, creating additional 8,500 rupees. 。
The government has also announced the rationalization of TDS and TCS regulations, and has optimized the excitement and price while non -crime on a specific provision. Next week, it is expected that a new simplified direct tax code will be presented, marking a comprehensive overhaul for the first time in several decades.
In addition, Sanjay Kumar Agarwal, an indirect tax and Central Committee of the Customs Committee, emphasized that the government had rationalized tariffs on the 8,500 tariffs lines.
With this reform, the average tariff rate in India has been reduced to 11.65 % to 10.66 %, approaching ASEAN standards.
“This exercise was done to make the structure simple, while guaranteeing that the competitiveness of India’s industries remains the same,” Agalwar said.
Reforms include the elimination of seven obligations slabs and the removal of additional charges on the 82 tariff line to simplify the tax system. The main measures include reduced missions of minerals in semiconductors and clean energy, extending the export period of handicrafts from six months to one year, and reducing the reduction of frozen fish to increase marine exports. Includes that it extends from 30 % to 5 %. The mobile manufacturing department, which has already succeeded in exports, benefits new obligations of components.
On this occasion, the industry leader welcomed a well -balanced approach. FICCI’s President of Harsha Vardhan Agarwal calls it “a blue photo for recovery, innovation, long -term economic change,” and promotes the tax cuts of $ 1275,000 per year, promoting the disposable income and spurse consumption. I said.
