Economic Survey & the Indian Budget2024: buyback tax, jobs, food inflation, AI & toxic smartphones

In this episode with Pavan Sharma, partner at BCL India, a compliance and tax advisory firm, we compare why the #Budget2024 has to be looked at along with the Economic Survey of India. The economic survey showcases the challenges of India with AI, the end of globalisation and menace of climate change. The first thirty minutes we analyse the survey and then we look at the budget and the fiscal position of India.Part 1: Economic Survey and why its important to understand the budget00:00 - Introduction to Budget2024 and the Economic Survey.04:10 - The economic survey is the key for the Budget202405:55 - Why the economists are pessimistic for business while growth has been great.07:20 - End of globalisation and a new world order10:18 - AI, climate change, inflation, food and the impact on bottom of the pyramid.14:53 - Why retail investments have grown and why food inflation can slow new investments. 18:30 - Laws in India still don't support make-in-India.19:54 - Unemployment is rising and the finance minister addresses this.21:56 - The tripartite compact: job creation is for the private sector.24:30 - Taxation and revenue shares with Private, Government and Public sectors.26:10 - Why AI is not important for the economic survey - energy and job losses27:45 - Can the farm sector save the county - stay back in villages and become farm-preneurs.30:25 - Getting back with China.31:38 - The impact of "toxic" smartphonesPart 2 - Budget 202433:19 - The fiscal position of the nation.34:50 - Individual tax contribution is high and 800 million Indians live on subsidy.40:10 - The four new castes in India and the nine sub-themes that defines the new India.41:48 - Direct benefit transfers to first time formal workers.43:35 -Benefits to SMEs, individual entrepreneurs and larger companies.46:20 - Taxes, capital gains 48:57 - The impact on real estate.51:42 - Buyback taxation and its impact on startups.Support the showThanks for Listening! Follow Us on  Facebook, Instagram, Twitter, LinkedIn or Find us on YouTube