Expert's View
Manish Bansal, Founder & Director, Window Magic shares his view on the upcoming budget
The budget should focus more on streamlining taxation, investment, and offering to MSMEs
In Union Budget, we expect to see that it will emphasize streamlining taxation, investment, and offering to MSMEs, which can help in generating more revenue and employment.
As we all know, for the last one and a half years, everyone is affected by covid besides the government has given stimulus packages to MSMEs. But in the end, all these stimulus packages were part of the loan. In addition, it is a burden to MSME at large. So, we are expecting some advantage in this budget as in some reduction.
In income tax or something like corporate tax. Also, the price of the raw material is very high and it is not uniform and controlled as well. So, at least government should rationalize the GST on manufacturing for MSME.