Reducing the GST on EVs from 12 per cent to 5 per cent can be seen as a big step in favor of sales of EV cars in India.
The deduction of Rs 1.5 lakh on the loan interest to purchase an electric vehicle in India will not just benefit the industry but also for consumers who are looking to switch to electric vehicles.
On education, she coined the slogan of ‘Study in India’, promising to make India a hub for education and get foreign students into India.
A new TV channel for startups and reform of labour laws is also on the agenda as per the speech of Budget 2019 live streamed from Lok Sabha.
1.05 lakh crore budget for the same, the Indian Tourism Industry is bound to grow exponentially.
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Also, a new channel proposed for start-ups to disseminate information in the industry will provide platform to companies like us to better understand the opportunities and gaps in the industry: Mohit Poddar, CEO & Co-founder, Shoes on Loose The Union Budget 2019 is aimed at strengthening the fundamentals i.e.Budget 2019 Highlights: It has been a budget speech by FM Nirmala Sitharaman that has laid out the roadmap and announced measures to tackle several aspects of the economy.In the Direct and Indirect taxes proposals announced by her in the second part of her speech, she announced that corporate tax rate of 25% would be extended to companies that now have a turnover of upto Rs 400 crore.She has also announced her intention to get more NRI investment into India.Announcing key measures for common man, she reiterated the government’s promise to give power to all rural families by 2022. She said even farmers need to have ease of doing business and ease of living.Government is furthering its resolve to save startups from the draconian angel tax and IT scrutiny but has still stopped short of scrapping the Angel Tax altogether.Extending the period of exemption of Capital Gains from Real Estate for startup investment is a big positive that should boost slugging angel investment.India’s rural infrastructure, connectivity, education, skilling, electric mobility and the economy at large.The Government of India put forth multiple initiatives to kick-start the growth of MSMEs and start-ups in the country and also outlined various changes in custom duties, which we believe will boost India’s economic growth: Manish Sharma, President and CEO, Panasonic India and South Asia It's a nice budget for startups but it's mostly incremental and not revolutionary.Budget 2019 live streaming speech sought to replicate the success of the pulses production programme to oilseeds, another key import for India currently.Solid waste management and comprehensive water management at a local level were key points.