Budget 2023 Expectations Highlights: IMA puts forward demands ahead of budget presentation

IMA puts forward demands ahead of budget presentation

IMA has suggested the Centre that the funds for the Ayushman Bharat Pradhan Mantri Jan Arogya Yojna (AB-PMJAY) should be used exclusively for the private sector for strategic purchase and creating a retainer system and not for critical gaps in the funding of government hospitals. “Deficit funding is the most important cause behind the lack of penetration of the AB-PMJAY. If the funding has to be raised to at least the CGHS (Central Government Health Scheme) level, then the amount required is around Rs 1.6 lakh crore," the doctors' body said in its proposal to the government for consideration in the upcoming Union Budget. Read more here

US venture capitalists seek policies favouring startups

US venture capital firms investing in India are expecting the Union Budget 2023 to support the growth and development of the startup ecosystem in the country, according to a top investor. According to Arun Kumar, managing partner of Celesta Capital, the venture capitalists want to capitalise on Indian talent and invest in them.

“As a US-based venture capital firm investing in India, we are keenly interested in policies and initiatives that will support the growth and development of the startup ecosystem in the country,” Kumar said. “Signals and allocations in the Budget that further the growth of new ventures based on innovation and entrepreneurship would be particularly welcome,” Kumar said.

“We are eager to see in the Budget, the government's continued commitment to fostering a business-friendly environment that encourages foreign investment and supports the growth of new and emerging companies, including in the deep-tech space,” he said.

The geopolitical scenario and the pandemic induced the need to diversify supply chain sources and present India with an opportunity to enhance its participation as a trusted node in global value chains, he said.

“Such an aspiration would call for policies that make it easy and cost-effective to both import and export in such a way that the efficiency of supply chains can be enhanced, boosting the competitiveness of Indian manufacturing,” said Kumar.

India a bright spot, look at the PLI ecosystem, reforms, says NITI Aayog CEO

The Indian government is sending out a strong message with the production linked incentive scheme and other reforms which have taken place over the last six or seven years, all the way from the insolvency and banking code, the goods and services tax, all of which point to India as a bright spot in the global economy, feels NITI Aayog CEO Parameswaran Iyer. Read more here

Govt mulling fresh dispute resolution schemes; likely to be announced in Budget

In what could be a win-win situation for both the industry and the government, North Block is currently assessing the possibility of introducing yet another set of one-time tax dispute resolution scheme to reduce litigation and unlock funds. A decision on the same could be expected in the Budget 2023. Read more here

Experts expect a budget for future ready workplaces amid work from home, layoffs

As the countdown to Budget 2023 begins, expectations from what all sectors want from the budget have started to come to the light. For the jobs market 2022 was all about layoffs, adjusting to coming back to office after Covid-19 pandemic, increased pressure due to inflation and fear of recession. However with the Union Budget 2023, due on February 1 experts have hopes on announcements that will bring some stability in the job market. Read more here