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00:00But some small companies still say that it is not that easy.
00:06Some companies are getting it easily.
00:09Two or three banks are getting it.
00:11Maybe it was in the paper the day before yesterday.
00:13But still there is a large number of small companies
00:17who say that they are not getting collateral-free loans.
00:21So if the Minister of Finance tries a little more,
00:26then it will be a force multiplier for economic growth.
00:32Sir, have you heard anything about personal tax or corporate tax?
00:40I think the government is already getting a lot of growth in personal taxation
00:47because the number of returns being filed is high,
00:50the number of taxes being paid is high.
00:52It is a balancing act.
00:55I think the government should make sure that
00:59if the cost of living is increasing,
01:02either it is compromised through lower inflation,
01:06which is also a difficult thing to do,
01:08or there should be some relief in personal taxation.
01:12I think there should be some simplification in personal taxation.
01:17The new tax regime still has a lot of slabs.
01:21If you look at the additional rebates of senior citizens
01:24and very senior citizens,
01:26the whole matrix is still a little complicated.
01:29We have suggested that to compensate for the cost of living,
01:33which is increasing,
01:35some compensation in terms of tax rates.
01:39In fact, I was talking about MSMEs.
01:42We have also said that if corporate tax is reduced to 15% for MSMEs,
01:48then we can provide them with a provision to spend on sustainability and ESG,
01:59because MSMEs do not get a chance to invest in that at this rate.
02:04We have also suggested corporate tax in taxation.
02:10Sir, if we talk about the market,
02:13why do you think the stock market is constantly falling?
02:18What is the reason behind this?
02:20How do you see it reacting in the future?
02:24We will not comment much on the stock market as a chamber,
02:29because there are many factors in the stock market.
02:32If you look at the financial results of the last six months or last year,
02:39companies are doing only better.
02:41There is a lot of sentiment in this.
02:43And now that the Indian stock markets are aligning with the global markets,
02:48global sentiments also matter a lot.
02:51Somewhere there was a war, somewhere there was no war.
02:55So now I think we should not read too much into it.
02:59The way it was a little big in my opinion,
03:02until two or three months ago,
03:04that was also a little unnatural.
03:06So the correction was expected.
03:08That correction should be in the sense of 2,000 points or 5,000.
03:12It also depends a little on sentiment.
03:14Sir, why do you think the stock market is falling today?
03:16Look, if you look at the long term,
03:18because the stock market players have to think long term.
03:21In the long term, our economy is on the right track.
03:24So if the economy is on the right track, then the stock market will also grow.
03:28Sir, I would like to ask one more thing.
03:31The rupee is continuously getting weaker.
03:34The rupee has crossed the level of 86 compared to the dollar.
03:38How do you see this, sir?
03:41Look, the rupee, I would say, becomes a little sentimental like the stock market.
03:48Now there are US Fed rates vis-a-vis whether our central bank rates will change or not.
03:56All that, even in speculation, there is a little weakening or strengthening.
04:01But if you look at it with other emerging economies,
04:05then the rupee has still performed better.
04:09In fact, I don't have the data yet,
04:11but I think it is still the best performer among all the emerging markets.
04:15So according to me, it is not a concern.
04:18And if you look at the real exchange rate,
04:22which has been our inflation trend in the last 1-2 years,
04:26according to that also, the rupee has not weakened unduly.
04:30And if it does weaken, then it helps our exports.
04:33And in the same way, imports are expensive,
04:37but it also puts pressure on companies to reduce imports and manufacture locally.
04:44So that balancing act happens automatically.
04:48Sir, how do you see the world's competition with our rupee?
04:52For example, you were talking about the Fed.
04:57If you look at the world's competition with the dollar,