By Gautam Bhasin
"Since reviving economic growth is the biggest challenge India is facing, the union budget should be growth & business-oriented, should help India attract investments and should focus on rationalising income tax structures. The focus should be on government spending especially in the infrastructure sector.
Reducing the burden of income tax among the individuals, and reduction in corporate income tax should be a priority.
Additionally, on the personal investment front, the government should consider the uniform tax treatment of MF retirement Funds and NPS, tax parity between Mutual Funds and ULIPs. Also, Mutual Funds should be included in the list of investments that qualify for capital gains exemption under Section 54EC. Increase in the limit for investments u/s 80C, and the increase in the 80D limit for the health insurance premium will also go a long way in supporting the investments environment in the country."
The author is the founder of Prospurts
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