The Bhopal Branch of CIRC of ICAI hosted a 'Live Screening of the Union Budget - 2021' at ICAI Bhavan.
Giving an insight on the Budget, CS Nagendra D Rao, President, The ICAI, said “Highlighting on the revival of the Indian Economy post Covid-19 pandemic, the reform measures of Budget 2021, focussing on the six pillars of the economy vis a vis, Health and Wellbeing, Physical and Financial Capital and Infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and RandD, Minimum Government and Maximum Governance are perfectly aligned with the Government’s AtmaNirbhar Bharat initiative”.
He said that as an extended arm of the Ministry, the Institute appreciates the initiative taken regarding the new rules for removal of double taxation for NRIs, and a reduction in the time period of tax assessments among other measures. Start-ups will get an extension in their tax holiday for an additional year. The advance tax liability on dividend income shall arise after declaration of payment of dividend.
Adding more to it he said that Budget 2021 proposed a boost for the healthcare sector with a significant increase of 137% in the outlay. The decision of a total spend of around Rs 2 lakh crore on healthcare with Rs 35000 crore on Covid-19 vaccine development and inoculation is a much needed step.