Budget insights: Union Budget 2021-22

Quick reactions from PwC experts on Union Budget 2021-22

Sanjeev Krishan, Chairman, PwC in India

Sanjeev Krishan
Chairman, PwC in India

The FM has done a prudent job of prioritising spending to address immediate needs and mid to long term goals across critical areas. Privatisation, substantial increase in FDI in the insurance sector as well as other announcements around asset monetisation, INVITs/REITs are progressive measures that will definitely have a far-reaching positive impact on creating a conducive ecosystem for business and help address some legacy issues. The FM had an unenviable job of striking a balance on the fiscal deficit front without altering tax rates to fuel economic growth and must be complimented for having achieved it. The thrust on digital, affordable housing, inclusive growth, ease of doing business, innovation and R&D are steps towards making India future ready. However, operational detailing and seamless execution will be critical.

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2:13

sanjeev

Chairman, PwC in India


Sanjay Tolia, Tax Leader, PwC India

Sanjay Tolia
Tax Leader, PwC India

One of the key considerations to business growth and foreign investments in a country is tax certainty. The FM has taken the bar higher by introducing a Board for Advance Ruling, Dispute Resolution Committee for small taxpayers, extending faceless appeals to ITAT and reducing the time to reopen assessments from six years to three years. This will go a long way in boosting growth and investments in India.

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1:52

sanjay-tolia

Tax Leader, PwC India


Arnab Basu, Partner & Leader – Advisory, PwC India

Arnab Basu
Partner & Leader – Advisory
PwC India

India’s first digital budget is symbolic of the government’s resolve towards a truly Digital India. Announcements around the digital census, creating an enabling eco-system to further a ‘Digital First Mindset’ in education, adding impetus to fintech, etc. are positive moves that can add momentum to the pace of digital adoption in a post pandemic world. 

Contact us

Sanjay Tolia

Sanjay Tolia

Leader, Tax and Regulatory Services, PwC India

Tel: +91 22 6689 1321

Vikram Doshi

Vikram Doshi

Partner, PwC India

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