Budget 2021: These three key sectors expect govt to deliver a game-changing super over
The Union Budget 2021 should reflect concrete and enthused government efforts to boost both consumption and demand for an overall push to the economy
Mukesh Butani | January 29, 2021 | Updated 14:02 IST
Finance Minister Nirmala Sitharaman s statement to present a budget like never before has raised expectations to revive the COVID-struck economy at this crucial juncture in its resurrection story
All eyes will be on Finance Minister Nirmala Sitharaman on February 1 when she presents the Union Budget 2021 considering the grim legacy of 2020 - on economic, health, and political front. The economic impact of the COVID-19 pandemic has been vastly disruptive starting with the severe first-quarter GDP contraction, though we may end the fiscal year with a reasonable 7.7% contraction, as predicated in the advance estimates released by the National Statistics Office (NSO).
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New Foreign Trade Policy 2021-2026 to be rolled out from April, says Govt ANI | Updated: Jan 13, 2021 06:22 IST
New Delhi [India], January 13 (ANI): Union Ministry of Commerce and Industry on Tuesday said that India s new Foreign Trade Policy 2021-2026, under formulation, will come into effect from April 1, 2021, for five years and will strive to make the country a leader in international trade.
The Parliamentary Consultative Committee of the Ministry of Commerce and Industry held a meeting on the subject New Foreign Trade Policy 2021-26 , the commerce ministry said in a statement.
It was chaired by the Minister of State for Commerce and Industry Hardeep Singh Puri, and attended by Members of Parliament (MPs) and senior officers of the ministry.
Travel sector seeks tax cuts, incentives
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According to industry estimates, travel and tourism sector has accrued losses to the tune of ₹90, 000 crore.
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The travel and tourism industry, which is reeling under the impact of the covid-19 pandemic without any stimulus package, has urged the government to provide concessions and incentives ahead of the Union Budget on 1 February.
The Indian Association of Tour Operators (IATO), which represents more than 1,600 operators for inbound tourists, has asked the government to exempt the tourism sector from the integrated goods and services tax (IGST) similar to IT industry, which also provides services to international clients and brings foreign exchange but does not have to pay this tax.
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