Launching and accepting digital currency is a positive step; absolutely no harm in taxing any income from transfer of any virtual digital asset at the rate of 30 per cent. Likewise introduction of a provision to file an Updated Return within two years from the end of the relevant assessment year on payment of additional tax is good as it will enable the assessee to declare income missed out earlier. Further efforts to reduce tax related litigation is much appreciated.
Applause by the Finance Minister for taxpayers is much cherished. I am glad that this budget is focused on implementing reforms to boost sustainability. The extension of the ECLGS scheme is a welcome move for MSMEs. The credit and fiscal support of 5 lakh crore will give a huge boost to this sector encouraging new businesses to come to the fore.
Gold Rate
Wednesday 19 March 2025
Only disappointment is that we were expecting some relaxation in direct tax slabs, but no changes are proposed in income tax.
Shrawan Kumar Malu
President – Vidarbha Taxpayers Association (VTA)
As president of the hotel association I am saddened, however happy as a taxpayer citizen because as anticipated by many experts the budget proposed isn’t influenced by forthcoming elections in key States. Was eagerly expecting some relief for hotel sector, which inspite of reference in Economic Survey has been ignored and only support came in form of extension of ECLGS upto 31st March 2023 with its guarantee cover expanded by ₹50,000 crore to total cover of ₹5 lakh crore, with the additional amount being earmarked exclusively for the hospitality and related enterprises.
It’s heartening that the budget is focused on Nation First policy, with key allocations for agriculture, medical, education, MSME and domestic defence manufacturing. Similarly, PM Gati Shakti’s proposal for Roads, Railways, Airports, Ports, Mass Transport, Waterways and Logistics infrastructure will also surely boost the hospitality sector.
Proposal for e-Passports with embedded chips and futuristic technology is nice. Likewise draft DPRs for linkage of five rivers is a futuristic and much needed step, trust the affected states will reach consensus in national interest ASAP.
Tejinder Singh Renu
President – Nagpur Residential Hotels Association (NRHA)
