Budget 2025 Expectations-
FM Nirmala Sitharaman 1 फरवरी को देश का Union Budget पेश करने वाली है. जिसको लेकर जोरों शोरों से तैयारियां जारी है. बजट का देश की इकॉनमी पर बहुत असर पड़ता है. ऐसे में बजट 2025 देश की इकॉनमी के लिए कैसे गेम चेंजर हो सकता है. जानते हैं Future Focus: Budget 2025 के Episode 1 में. देखिए GoodReturns Editor Bhawna के Amit Goel,Co-founder & Chief Global Strategist- Pace 360 के साथ खास बातचीत.
#budget2025 #unionbudget2025 #sharemarket #budget2025expectations #nirmalasitharaman #incometax #stockstobuy #focusstock #focussector #budgetstocks #budgetsession #defencesector #railwaybudget #breakingnews #hindinews
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Budget 2025: Middle Class Expects Tax Relief To Alleviate Financial Pressures In India :: https://www.goodreturns.in/personal-finance/planning/budget-2025-middle-class-expects-tax-relief-to-alleviate-financial-pressures-in-india-011-1397429.html?ref=DMDesc
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~PR.147~ED.148~GR.121~HT.96~
FM Nirmala Sitharaman 1 फरवरी को देश का Union Budget पेश करने वाली है. जिसको लेकर जोरों शोरों से तैयारियां जारी है. बजट का देश की इकॉनमी पर बहुत असर पड़ता है. ऐसे में बजट 2025 देश की इकॉनमी के लिए कैसे गेम चेंजर हो सकता है. जानते हैं Future Focus: Budget 2025 के Episode 1 में. देखिए GoodReturns Editor Bhawna के Amit Goel,Co-founder & Chief Global Strategist- Pace 360 के साथ खास बातचीत.
#budget2025 #unionbudget2025 #sharemarket #budget2025expectations #nirmalasitharaman #incometax #stockstobuy #focusstock #focussector #budgetstocks #budgetsession #defencesector #railwaybudget #breakingnews #hindinews
Also Read
Taxpayer Wishlist: How Budget 2025 Could Ease The Tax Burden On The Middle Class? :: https://www.goodreturns.in/personal-finance/planning/taxpayer-wishlist-how-budget-2025-could-ease-the-tax-burden-on-the-middle-class-1398799.html?ref=DMDesc
Budget 2025: Middle Class Expects Tax Relief To Alleviate Financial Pressures In India :: https://www.goodreturns.in/personal-finance/planning/budget-2025-middle-class-expects-tax-relief-to-alleviate-financial-pressures-in-india-011-1397429.html?ref=DMDesc
India Inc Seeks Cut In Personal Income Tax Rates, Flags Dumping By China At Pre-Budget Meet :: https://www.goodreturns.in/news/india-inc-seeks-cut-in-personal-income-tax-rates-flags-dumping-by-china-at-pre-budget-meet-1396745.html?ref=DMDesc
~PR.147~ED.148~GR.121~HT.96~
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NewsTranscript
00:00How can this budget, 2025, be a game-changer according to you?
00:05As a country and as a government, we have an unprecedented opportunity.
00:10But we have to act right now.
00:13So, this budget for the year 2025,
00:16will probably be a big game-changer and a landmark
00:20to achieve the dream of a developed India in 2047.
00:24To boost economic activities,
00:27what are the measures that need to be prioritized in the budget for 2025?
00:32Agricultural produce, from the stage of harvesting to the time it comes to the market,
00:37almost 40-50% of our food items, particularly perishable food items,
00:44they are lost in the transit and they are lost in the value chain.
00:48So, on one hand, we have to control inflation.
00:50On the other hand, we have to solidify the income of urban and rural consumers for growth.
00:56China, due to its internal problems,
00:59and plus because of the fact that geopolitically,
01:02China took a very aggressive stance in the last 10 years.
01:11Hi, this is Bhavna and you are watching GoodReturns.
01:14Budget 2025 countdown has started.
01:16And on GoodReturns, we have brought a special series,
01:20Future Focus Budget 2025.
01:23Today is the first episode of this series.
01:25And through this series, we will try to understand Budget 2025 in detail.
01:31What are the expectations?
01:33What are the possible announcements?
01:35There can be big announcements in Budget 2025.
01:38And after that, the budget that will be present,
01:41we will also try to analyze it through this series.
01:45Experts from different sectors will join us in this series.
01:50They will tell us about the expectations.
01:54What are the possible announcements?
01:56We will talk about them.
01:58What are the sectors that can be the focus of the government?
02:02How can Budget 2025 be in terms of economy?
02:05Because a very potential impact of the budget
02:09affects our country's economy as well as our country's GDP.
02:14And there are many such problems that need to be addressed.
02:19So how should our Budget 2025 be a game changer?
02:23We will try to understand that in this series.
02:27Today we have Mr. Amit Goyal with us.
02:29He is the co-founder of PACE360.
02:32We will try to know from him,
02:34what will be the impact of the budget on the economy?
02:38What changes can be made in the budget?
02:42And how can this budget be made a game changer?
02:46Welcome to the special episode of Future Focus Budget 2025.
02:51Thank you for joining us.
02:53Thank you for having me on the show, Bhavna.
02:55First of all, Mr. Amit,
02:57we would like to take a macroeconomic overview from you.
03:00Since everyone's focus is on the budget,
03:02what do you think can be done to balance the fiscal deficit and growth
03:07in Budget 2025?
03:11Both are important.
03:13The fiscal deficits are not the policy of the government
03:18in the last few years.
03:20Once the fiscal deficit increased,
03:24we have to slow down and
03:26follow the normal trajectory of the fiscal deficit.
03:31We don't have to go overboard in government spending.
03:36That is a priority.
03:38But at the same time,
03:40since the last few quarters,
03:42the GDP growth rate has come down.
03:47There are other macroeconomic concerns
03:49related to employment, income, and GDP.
03:53So, it is important to balance both.
03:55I think it can be balanced.
03:59On the fiscal deficit side,
04:01the government's deficit project this year is 4.9%.
04:05I think we are well on our way to achieve that target.
04:10Next year's target is 4.5%.
04:13I think the government can relax a bit
04:18and achieve 4.5% next year.
04:23We have to modify the glide path.
04:27In the coming years,
04:29we have to take the fiscal deficit to 4.5% or even 4.2%.
04:34But right now,
04:36we are at a stage in the economic cycle
04:39where we have to focus on growth.
04:42There are many sectors
04:44like infrastructure,
04:46manufacturing, healthcare,
04:48and education
04:50where there is a low hanging fruit.
04:53If you take some measures there,
04:55those sectors can give you a good momentum on GDP.
05:00And you can do this
05:02without going overboard on spending
05:04and without taking the fiscal deficit
05:06back to 5.5% plus
05:08where it was till last financial year.
05:11Another issue that we have seen in the last few years
05:16is inflation.
05:18We have seen that the inflation rate is increasing.
05:21To address inflation
05:23and to boost economic activities,
05:25what measures can be taken
05:27in Budget 2025
05:29that need to be prioritized?
05:31As far as inflation is concerned,
05:34we all know that
05:36food inflation is increasing a lot.
05:40Inflation basket,
05:42CPI basket,
05:44has a big role of food.
05:46If we take some supply side measures
05:52then we can bring down the inflation.
05:56Supply side measures
05:58for example,
06:00if we reduce the taxes
06:02on fuel
06:04then
06:06our logistical costs
06:08be it food
06:10or other goods
06:12can be reduced.
06:14Our overall logistics
06:16and transportation costs
06:18can be reduced.
06:20And an urban consumer
06:22who spends
06:24a large portion of his income
06:26on fuel
06:28has to spend less on fuel.
06:30Obviously,
06:32this will put downward pressure
06:34on inflation.
06:37On the other hand,
06:39our agricultural produce
06:41from the stage of harvesting
06:43to the time it comes
06:45to the market
06:47almost 40-50%
06:49of our food items
06:51particularly
06:53perishable food items
06:55are lost in the transit
06:57and the value chain.
06:59The government
07:01should focus on
07:03cold storage
07:05infrastructure
07:07and logistical infrastructure
07:09to make sure
07:11that our harvest
07:13and the losses
07:15coming to the market
07:17can be reduced
07:19over the next few years.
07:21This has been true worldwide.
07:23In most of the developed countries
07:25there used to be
07:27a high wastage
07:29and they invested
07:31in logistical infrastructure
07:33and transportation.
07:35If we succeed
07:37in this, our food inflation
07:39will be reduced.
07:41On one hand,
07:43fuel inflation will be reduced
07:45and on the other hand,
07:47food inflation will be reduced.
07:49At the same time,
07:51the government can take
07:53many measures to boost
07:55the growth of the economy
07:57because inflation and growth
07:59are linked.
08:01If inflation
08:03goes beyond a point
08:05then the focus
08:07is on demand suppression
08:09which reduces
08:11the GDP.
08:13On one hand, we have to control
08:15inflation and on the other hand
08:17we have to solidify
08:19the income of urban and rural
08:21consumers.
08:23We can increase
08:25the minimum daily wage
08:27and give some tax incentives
08:29If we succeed
08:31in growing the economy
08:33then the income
08:35of urban and rural consumers
08:37will increase.
08:39There is the Prime Minister's
08:41Farmers' Scheme
08:43where we can increase the income.
08:45If we manage
08:47the subsidies efficiently
08:49and give direct benefit subsidies
08:51to the targeted recipients
08:53then I think
08:55within the same resources
08:58we can boost the growth
09:00and inflation can reduce
09:02only from the supply side
09:04and not from the demand side.
09:06If we succeed in doing this
09:08then I think
09:10we have to control
09:12inflation on one hand
09:14and boost growth on the other
09:16and on the other hand
09:18we have to control
09:20the fiscal deficit.
09:22We can achieve all these objectives.
09:24Sir, in 1991
09:26a budget was presented
09:28which is considered
09:30India's game-changer budget.
09:32After that, there was no
09:34game-changer budget like this in history.
09:36But now we are standing
09:38on the stage where
09:40India has a big opportunity
09:42because the way we are seeing
09:44the situation of China
09:46everyone is looking for an alternative
09:48to China. There are other countries
09:50who want to be an alternative to China.
09:52India is also in that race.
09:54How can India
09:56become an alternative to China?
09:58What are the things
10:00that can strengthen India
10:02on a global level?
10:04The dream of a developed India
10:06can be fulfilled.
10:08How can this budget
10:102025 be a game-changer
10:12according to you?
10:14Bhavna, I think this is
10:16a very important question
10:18and I think
10:20as a country and as a government
10:22we have an unprecedented
10:24opportunity
10:26but we have to act
10:28right now.
10:30As you said, the budget of 1991
10:32liberalized our economy
10:34and
10:36took it out of the shackles of
10:38the licensed rule
10:40and took it towards a liberalized
10:42economy.
10:44They encouraged
10:46FDI and FPI
10:48and made our economy
10:50a very isolated and socialist
10:52bent of economy towards
10:54capitalism and
10:56joined it with the rest of the world.
10:58And because of that
11:00budget, for the coming
11:02years and decades
11:04we have been taking
11:06advantage of it.
11:08But what happened in between
11:10was a huge
11:12manufacturing revolution
11:14in 1990s
11:16and 2000s
11:19which was based on
11:21outsourcing and offshoring.
11:23Advanced economies of the world
11:25like US, UK
11:27and EU
11:29started outsourcing
11:31their lower value-added
11:33manufacturing to countries
11:35like China,
11:37Mexico and so on
11:39and so forth.
11:41But India totally
11:43missed the first part
11:45of that revolution.
11:47Not only did we miss China
11:49but subsequently
11:51even Vietnam
11:53which was a communist
11:55country 32 years ago
11:57and started its
11:59capitalism journey only 32 years ago
12:01we also missed
12:03the manufacturing revolution
12:05in Bangladesh, Cambodia
12:07and even
12:09other countries
12:11in Southeast Asia
12:13like Thailand, Indonesia
12:15and Philippines.
12:17We lost out to everyone
12:19even to Sri Lanka.
12:21But I think this is a huge
12:23opportunity because
12:25China due to its internal
12:27problems and
12:29geopolitically China
12:31took a very aggressive stance
12:33in the last 10 years under Xi Jinping
12:35due to which
12:37western countries like US,
12:39Canada, EU and UK
12:41consider China as a threat
12:43geopolitically and economically.
12:45They are now
12:47encouraging their economy
12:49to reduce their
12:51dependence on China
12:53and to
12:55reshore their outsourcing.
12:57Till now,
12:59their dependence was on China
13:01but now
13:03they want to diversify it.
13:05The question is
13:07how many countries
13:09like China
13:11have such a big manufacturing base
13:13with a total export of
13:153.4 trillion dollars.
13:17They have such a big manufacturing base
13:19that if they want to shift
13:21meaningfully from China
13:23to other smaller countries
13:25they cannot do it
13:27because they don't have
13:29enough labour, demographic
13:31or market.
13:33India has a big market
13:35and
13:37demographics
13:40and we don't have a labour problem
13:42but in the last few years
13:44we have a big problem
13:46of urban unemployment
13:48and rural underemployment.
13:50All these problems
13:52have only one solution
13:54which is the first part
13:56of the manufacturing revolution
13:58in the world which we missed
14:00now we can catch it
14:02and the manufacturing
14:04setups, ecosystems
14:06and platforms
14:08are now going to other countries
14:10if we take our initiative
14:12and bring a big part
14:14of it to India
14:16in the coming years
14:18then our GDP, our dream
14:20of a developed India
14:22our urban unemployment
14:24rural underemployment
14:26poverty
14:28our extreme
14:30divergence in
14:32economic income
14:34disparity of economic income
14:36we can do all these things
14:38and for that
14:40we have a big opportunity
14:42in this budget
14:44that we boost our infrastructure
14:46we give tax breaks
14:48for foreign direct investment
14:50for new manufacturing setups
14:52we give lower taxes
14:54we simplify the land acquisition
14:56in setting up manufacturing
14:58in getting the required
15:00permissions
15:02we simplify it
15:04and our
15:06urban centers
15:08whether it is metros
15:10tier 1 or tier 2 cities and towns
15:12in those we
15:14set up economic zones
15:16where we
15:18encourage
15:20foreign direct investment players
15:22to set up
15:24manufacturing bases
15:26till a few years back
15:28India used to import iPhones
15:30but now India is going to
15:32every fourth
15:34iPhone in the world is going to be
15:36made in India
15:38almost 25%
15:40so if we can do it in the case of iPhones
15:42then I think
15:44all the electronics
15:46garment, footwear
15:48your
15:50resource industries, your EVs
15:52your battery
15:54we can do all these things
15:56if we succeed in doing this
15:58then it will be a game changer budget
16:01this budget will be remembered
16:03for years and decades to come
16:05in 2047
16:07the dream of a developed India
16:09we will achieve that dream
16:11and we will look back at it
16:13so this budget of
16:152025
16:17it will be a game changer
16:19and landmark
16:21to achieve
16:23the dream of a developed India
16:25so I think government
16:27has a very good opportunity
16:29like you said
16:31manufacturing hub
16:33if we want to speed up the economy
16:35if we want to achieve the dream of a developed India
16:37in 2047
16:39then the biggest thing is that we have to
16:41become a manufacturing hub
16:43we can become China's alternative
16:45Sir, what other
16:47major problems
16:49are you seeing in recent days
16:51which need to be addressed
16:53in this upcoming budget 2025
16:55I think
16:57whether it is
16:59infrastructural bottlenecks
17:01whether it is regulatory bottlenecks
17:03whether it is
17:05GST or taxation regimes
17:07and whether it is
17:09a big issue
17:11misalignment between our
17:13import duties
17:15on raw materials
17:17import duty on components
17:19and import duty on finished products
17:21and somehow aligning it
17:23with our domestic taxation
17:25like GST
17:27how can we realign it
17:29that we
17:31down the line
17:33communicate a message
17:35that you import raw materials
17:37you import components
17:39and you
17:41manufacture finished products
17:43rather than vice versa
17:45what have we been doing till now
17:47we have been exporting raw materials
17:49and we have been importing finished products
17:51but
17:53here we have to
17:55realign it
17:57like China, South Korea
17:59Taiwan and all these countries
18:01Asian Tigers have achieved
18:03this and
18:05we have also got the opportunity
18:07to achieve it
18:09through the simplification of the setting up of businesses
18:11land acquisition
18:13tax breaks
18:15subsidies in setting up of important industries
18:17through PLI incentives
18:19and then
18:22improvement of the
18:24import duty on raw materials
18:26finished products and the GST
18:28if we are successful in doing all these
18:30then I think
18:32we will be able to achieve
18:34our dream
18:36and here I would like to say
18:38that in the world
18:40all the countries
18:42from emerging countries
18:44and low income countries
18:46if they have developed
18:48then it is not because of services
18:50and in the last 30-40 years
18:52we have basically
18:54become a services
18:56dependent
18:58services led driven economy
19:00which is good
19:02we have achieved big landmarks in services
19:04which we have achieved in IT services
19:06and ITES
19:08and all the services
19:10which we have achieved
19:12but the manufacturing bandwagon
19:14which we have missed
19:16now we have to catch it
19:18because you cannot become a developed economy
19:20from an emerging economy
19:22to become a developed economy
19:24you need a manufacturing base
19:26because the employment
19:28we are a 140 crore plus country
19:30if we have to give employment
19:32to our youth
19:34to our urban and rural areas
19:36then it cannot be done
19:38only through services
19:40manufacturing is much more
19:42intensive, labour intensive
19:44than services
19:46if we focus on both
19:48then all the problems
19:50related to
19:52income
19:54income disparity
19:56poverty as well as
19:58employment
20:00we can address all these problems
20:02now we will talk a little bit
20:04sector specific
20:06which sectors
20:08in budget 2025
20:10our budgetary allocation
20:12can be the highest
20:14I think
20:16we have some low hanging fruit
20:18where
20:20as an economy
20:22if we direct our resources
20:24or policies
20:26then we can
20:28achieve a higher economic growth
20:30which will then
20:32again have a chain reaction
20:34because when your economic growth is better
20:36your income increases
20:38your consumption increases
20:40so it further takes you
20:43towards higher economic growth
20:45so I believe
20:47that low hanging fruit
20:49of course we have talked about
20:51manufacturing
20:53now the time has come
20:55to focus a lot on manufacturing
20:57but along with that
20:59we have to focus more on infrastructure
21:01because somewhere
21:03our port capacity
21:05our inland shipping
21:07or our rail network
21:09or our logistic network
21:11rail, inland
21:13waterways
21:15and our roads
21:17we will have to increase that
21:19our port capacity is 2.5 billion tons
21:21I think by 2047
21:23we will have to reduce it to
21:2510-12 billion tons
21:27because India
21:29hopefully is going to become
21:31not just a manufacturing hub
21:33but also an export hub
21:35if we have to do that
21:37then our infrastructure
21:39our inland waterways
21:41logistics, transportation
21:43and port capacity
21:45we will have to bring a huge increase
21:47other than that I think
21:49healthcare and education
21:51we will have to focus more on that
21:53healthcare is less than 2%
21:55of our economy
21:57we will have to bring it to 2.5%
21:59minimum in the next 6-7 years
22:01education is
22:034.5% of the economy
22:05we will have to bring it to 6%
22:07and we can achieve all this
22:09by giving adequate
22:11incentives
22:13in simplifying of the tax structures
22:15in giving incentives
22:17not just on the GST side
22:19but also on the income
22:21deduction side
22:23when we encourage our middle class
22:25and it will automatically
22:27grow in our middle class
22:29because out of this
22:31140 crore population
22:33more than 60%
22:35of the population is still in rural areas
22:37so we would need more urbanization
22:39when our middle class
22:41will grow then
22:43many problems will be solved
22:45but if middle class will grow
22:47then they will need
22:49health and education
22:51so somewhere
22:53infrastructure, manufacturing
22:55healthcare, education
22:57all these are connected
22:59and if we get
23:01all these pieces correct
23:04then all our
23:06problems can be
23:08solved
23:10but again I would like to say
23:12that we have a narrow window
23:14because if we miss
23:16this opportunity
23:18in infrastructure and manufacturing
23:20then chances are
23:22we will forego
23:24this opportunity
23:26for small countries
23:28they will catch this opportunity
23:30particularly in Southeast Asia, Eastern Europe
23:32and in Latin America
23:34and in that case
23:36I feel that
23:38we will need a lot of
23:40effort to achieve
23:42the dream of a developed India
23:44and I feel
23:46that we may not be able to achieve
23:48it by 2047
23:50Sir, you are talking about tax
23:52and there is always hope for tax
23:54if we talk about last year's budget
23:56last year budget was presented twice
23:58interim budget and our full budget
24:00although there was not much
24:02relief in tax
24:04Sir, once again
24:06there is hope among people
24:08whether it is our businesses or individuals
24:10what do you anticipate
24:12in budget 2025
24:14what tax reforms, what relief
24:16can people get this time
24:18I think government
24:20first of all
24:22our dream of a developed India
24:24by 2047
24:26how will our economy
24:28be, we will have to see
24:30and then we will have to work backward
24:32if we want to achieve those targets
24:34then which sector should be
24:36big by that time
24:38and then we have to work backward
24:40and according to that
24:42all our
24:44tax structure
24:46or incentive structures
24:48or whatever benefits we want to give
24:50to foreign direct investment
24:52we will have to give all that
24:54and the final
24:56our tax rates
24:58we will have to align with that
25:00now you
25:02cannot see this in a stand alone way
25:04now you
25:06what we have to achieve
25:08in the next 22 years
25:10according to that
25:12whether it is your GST
25:14regime or it is your
25:16direct tax regime or it is your
25:18corporate tax regime
25:20we will have to align everything with that
25:22for example
25:25there is a very urgent need of the economy
25:27that we have to boost urban consumption
25:29and rural consumption
25:31so for urban consumption
25:33for example I think
25:35for the salaried class
25:37the bottom 40% of the urban consumers
25:39the salaried
25:41among whom there are a lot of salaried
25:43professionals and self-employed
25:45we will have to give them some tax benefits
25:47we will have to increase some standard deductions
25:49from 75,000 to 1,00,000
25:51where
25:53where you don't have to pay any tax
25:55that threshold is
25:57around 7,00,000
25:59we will have to bring it up to 8,00,000
26:01then up to 20 lakhs income
26:03we will have to reduce the taxation rate
26:05because
26:07we will have to understand that inflation is also increasing
26:09the 20 lakhs income
26:11which was 5 years ago
26:13and that 20 lakhs income is today
26:15you can afford
26:1730% lesser lifestyle
26:19instead of 20 lakhs
26:21so we will have to give
26:23incentives in our taxation structures
26:25so that
26:27at least those people
26:29who were well off
26:31a few years ago, we have to bring them up to that level
26:33so for that we have to
26:35rationalize tax, benefits
26:37and standard deduction, benefits
26:39and income tax
26:41then the essential
26:43things like
26:45health care
26:47tax benefits
26:49home ownership
26:51which we want
26:53that most of the population should have
26:55home ownership
26:57so the set-offs you get
26:59in income towards
27:01paying for your own house
27:03paying interest on your mortgage
27:05so there we should get
27:07some further incentives
27:09in the same way
27:11health insurance, life insurance
27:13by doing all this
27:15I think we can make our middle class
27:17strong
27:19and if we make them strong
27:21then somewhere
27:23the middle class has to play a big role
27:25in the dream of our developed India
27:27so we have to
27:29take them along
27:31I think the focus should be
27:33on lower income classes
27:35and middle income
27:37and the upper income slabs
27:39I don't think there is a need
27:41for too much tinkering
27:43Sir, in this budget
27:46how can we influence
27:48foreign portfolio, FDI
27:50foreign direct investment
27:52has to play a big role
27:54if we want to move towards a developed India
27:56particularly in manufacturing
27:58if we want to create a renaissance
28:00if we want to create
28:02a big revolution in India
28:04then
28:06FDI has to play a big role
28:08in that we can give them
28:10all kinds of benefits
28:12for example, some industries
28:14that give high benefits and subsidies
28:16we have to expand that
28:18particularly we have to focus
28:20on higher value added
28:22industries
28:24so in higher value added industries
28:26where the raw material
28:28component and the finished product
28:30there is a lot of value addition
28:32so the more the value addition
28:34the more the GDP will increase
28:36the more our economy will increase
28:38the total amount
28:40of wages and salaries
28:42because they are directly
28:44proportionally linked to the
28:46value added in a sector
28:48so I think on new manufacturing
28:50for example, on units
28:52we can reduce our income tax slab
28:54we can bring 15%
28:56in setting up, again
28:58simplification, ease of setting up
29:00business, your
29:02rationalization of filing
29:04returns
29:06your
29:08policies related to
29:10income tax rates
29:12all these things will play a role
29:14plus land acquisition
29:16will play a big role
29:18and I think unlike the Chinese
29:20model where they
29:22made different geographical zones
29:24for foreign direct investment
29:26I think
29:28we don't have to make different geographical zones
29:30because we have less time
29:32to make new geographical zones
29:34and cities and set them up
29:36it will take a lot of time
29:38we have to grab this opportunity
29:40of China plus one
29:42so we have to earmark
29:44in existing urban areas
29:46that
29:48this will be an
29:50economic zone
29:52where you have to combine
29:54benefits, lower taxation
29:56subsidies, ease of setting up
29:58land acquisition
30:00everything
30:02and plus
30:04along with that
30:07the parallel logistics
30:09and transportation infrastructure
30:11around these places
30:13we have to strengthen
30:15if we succeed in doing this
30:17then I think FDI will play
30:19a very big role
30:21in this manufacturing renaissance
30:23which is probably
30:25the most important thing
30:27which this country can target
30:29if we want to become
30:31a higher income country
30:33and a developed country in the next 2-3 decades
30:35Sir, if we talk about India
30:37as a global investment
30:39destination, where do you
30:41see India's position today?
30:43Look, there has been
30:45progress there
30:47but I feel there should be more progress
30:49the biggest thing
30:51is that India
30:53has become one of the biggest
30:55financial markets in the world
30:57if we talk about the stock market
30:59we are more than a 5 trillion dollar stock market
31:01so
31:03India has become one of the biggest
31:05stock markets in the world
31:07so it makes us an investment destination
31:09because if
31:11big funds want to invest
31:13big money then India is a great
31:15alternative because of
31:17our size of the market
31:19not just size of the financial market
31:21but size of the real market
31:23size of the economy
31:25so that is the biggest thing
31:27and we have to grow it further
31:29on the other hand, I feel
31:31we should make a bigger platform
31:33both in attracting
31:35FPI's and also for
31:37Indian money to be channelized
31:39outside
31:41so I feel that if we
31:43through gift city
31:45give some extra
31:47tax benefits to India
31:49so that will
31:51not only be a
31:53domestic destination
31:55but a global destination
31:57both from
31:59India inbound and India outbound perspective
32:01our mutual funds
32:03have so many amazing products
32:05which have created so much wealth
32:07for domestic Indians
32:09if we make all those products
32:11regulatory possible
32:13globally
32:15those products in US, UK, Europe
32:17and other developed markets of the world
32:19those products should be listed
32:21and there
32:23foreign nationals, FPI's
32:25institutions, sovereign funds
32:28pension funds
32:30should be able to invest directly
32:32in our mutual funds
32:34and that money should
32:36come to India and invest in our companies
32:38so I think this can be a
32:40big step
32:42I feel that the government
32:44should not increase the STT
32:46because our STT has already increased
32:48our long term and short term
32:50taxation rates have also increased
32:52so I feel that
32:54we should not increase it
32:56and the overseas products of Indian mutual funds
32:58they can only invest in
33:00fund of fund structures
33:02they cannot invest directly in foreign companies
33:04I feel that they should
33:06allow that
33:08and their overall limits
33:10should be increased
33:12I think if we can focus on
33:14India inbound and India outbound
33:16through simplification
33:18rationalization
33:20and through regulatory
33:22simplifications and benefits
33:24I feel that India will be a
33:26big domestic
33:28as well as global destination
33:30in the next 5-10 years
33:32Sir, my last
33:34and final question to you
33:36is that
33:38anticipating the union budget 2025
33:40how should retail and institutional
33:42investors adjust
33:44their asset allocation
33:46how should strategies
33:48be made
33:50I feel that
33:52our infrastructure
33:54theme
33:56or construction theme
33:58this will be good
34:00I feel that
34:02our railways, aeronautics
34:04our defence
34:06because gradually
34:08we want as a country
34:10that our railways, aeronautics, defence
34:12manufacturing should be more in India
34:14so I think those companies
34:16in the next 5-10 years
34:18will be big beneficiaries
34:20of India's growth
34:22if India wants to become a manufacturing hub
34:24then not only those companies
34:26who will set up manufacturing plants
34:28but the companies
34:30who will cater to them
34:32for example, the construction companies
34:34who will make industrial complexes
34:36who will make transportation and logistics
34:38infrastructure
34:40who will supply basic materials
34:42I think
34:44those industries will also do well
34:46because
34:49most of the companies
34:51which are set up
34:53will not be listed
34:55but the companies
34:57which will cater to them
34:59will be listed
35:01so I think construction, infrastructure
35:03railways, aeronautics
35:05defence, transportation
35:07logistics
35:09all these themes
35:11are very attractive
35:13and if
35:15in the run up to the budget
35:17if we increase the allocation
35:19then I believe
35:21that after the budget
35:23we can see
35:25good investment returns
35:27and not just from a short term
35:29point of view but even from
35:31a multi-year point of view
35:33I think these are great investment themes
35:35It was a very insightful discussion
35:37Mr. Amitabh
35:39we have tried to understand
35:41Budget 25 on many different aspects
35:43we have tried to understand
35:45the impact of the budget
35:47on the economy
35:49we have tried to understand
35:51and what are the measures
35:53that the government should take
35:55to boost India's growth
35:57we have tried to understand
35:59Thank you Mr. Amitabh
36:01for talking to us
36:03Thank you for having me on
36:05You have just heard Amit Goyal
36:07I hope you have understood
36:09all the information
36:11and found it very valuable
36:13If you have any thoughts
36:15about the budget
36:17or anything else
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