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Banking, Financial Services & Insurance

Tapping into the burgeoning BFSI market See Overview

Consumer, Retail & E-commerce

The Consumer & Retail sector is growing rapidly and is extremely dynamic. Due to constant disruption, managing business has become complicated and cumbersome. See Overview

Healthcare and Life Sciences

Our healthcare and life sciences advisory team brings together a combined experience of over 50 years to help businesses navigate through changes, new... See Overview

Automotive and Manufacturing

At Grant Thornton in India, our automotive team works with a wide variety of clients to help them achieve their goals and increase shareholder wealth. Our... See Overview

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M&E practice encompasses team of dynamic professionals with deep technical knowledge and extensive experience of working across segments say television, print,... See Overview

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Real estate and Construction

At Grant Thornton, we assist dynamic Indian businesses in the Real Estate & Construction sector throughout their business life cycle by offering robust... See Overview

Union Budget 2021-22

Pre-budget expectation survey

28 Jan 20211 min read

To gauge the market sentiments and better understand the expectations from this year’s budget, Grant Thornton Bharat, in association with CII, conducted a survey on pre-budget expectations during 13-20 January 2021.

Contents

Key findings of the survey

Focus of the Budget: Expectations are high on bold policy announcements to boost investment into infrastructure and large projects as well as increase consumption. 67% of those surveyed hope to see policy initiatives in infrastructure sector to propel the economy in the right direction.

Sector wise impact: Respondents ranked the agriculture sector, healthcare and pharma sector; and manufacturing and industrial sector amongst the top three sectors that they feel should receive the greatest thrust.

Growth-related optimism: 60% respondents believe that the Indian economy is on the growth path. 67% are optimistic about India's infrastructure and consumption spending in the coming year.

Tax rates: Despite the rising fiscal deficit, 55% believe the government should not tinker with the tax rates and maintain status quo. However, 90% believe that the government should provide relief to individual taxpayers.

Tax reforms: On expected tax reforms, 75% believe transfer pricing, customs and corporate tax areas are most in need of reforms. However, 67% felt that there is simplification required in the TDS and TCS provisions.