India Is Making Rapid Structural Reforms: Piyush Goyal
India is making rapid structural reforms to become a $ 5 trillion economy by 2025: Piyush Goyal.
India is strengthening its entire ecosystem to achieve the goal of a $ 5 trillion economy by 2025. Union Minister of Commerce and Industry Piyush Goyal said this on Saturday.
Addressing the Pravasi Bharatiya Divas Conference, the Union Minister said that the $ 5 trillion economy is the dream of Prime Minister Narendra Modi and we will achieve this goal with sharp structural reforms.
He said that India is moving fast and there are huge opportunities available for Indians at home and abroad.
Goyal said in his address, “In order to expand the reach of Indian products globally, possibilities are being aggressively explored in new markets.
Indians living abroad have a greater understanding of the consumer market. You understand consumer behavior deeply and can help the Indian industry to develop products in line with foreign markets. ”
Goyal further said, “After the problems created by Kovid-19, everyone has understood that there should be the courage to do something big. If you do not do this, then you will lose the leadership capacity globally.
This is the principle of independent India. It is to open them more instead of closing their doors. With this, India will be able to build its capacity and efficiency and will be able to fight with its speed and skill level. ”
The Union Minister said, “We are working on ease of starting a business, ease of doing business, and ease of moving our business.” “We want our brothers and sisters all over the world to take advantage of these opportunities. Meet first.
Budget 2021: Government should end 10% tax on LTCG, increasing the problems of those saving
Savings in India are already overly dependent on deposits. This dependence is continuously hurting their financial health. Savings need to be encouraged in every way to adopt equity-based investment.
If there is a big decline in fixed income returns, more and more people retiring are going towards the poverty of old age. In such a situation, it is better for the government to abolish the 10 percent tax on LTCG.
It is a time of little concern for those acquiring Long Term Capital Gains (LTCG) from equity or equity-based mutual funds. Till Budget 2018, we all knew that there is no LTCG tax on such investment.
However, this relief came to an end in the year 2018. The government levied a 10 percent tax on profits up to Rs 1 lakh. Under this, the tax has to be paid on the profits due to the budget day i.e. January 31, 2018.
