Forbes India's Capital Ideas podcast serves up some of the most riveting success stories in the world of business. Meet the men and women behind the companies, and get a peek into how they got to where they are, and what makes them extraordinary.
Capital Ideas is hosted by Forbes India's Pooja Sarkar and Manu Balachandran, edited by Mansvini Kaushik
The Union Budget for FY24 focused on capex-led growth, improving the quality of government spending, and providing a fiscal consolidation path. The budget was presented on 1 February, by finance minister Nirmala Sitharaman, against a crucial macro-political backdrop, with an expected slowdown in global growth, a smaller nominal GDP buffer and ahead of the general elections in 2024. Navigating the growth paradox amid an increasingly volatile global backdrop remains a key challenge for the government this year. But, what if growth slows down further in FY24, due to recession in developed markets and the lagged impact of tighter monetary policy? Although the Economic Survey projected a nominal GDP growth of 11 percent YoY in FY24, the Budget assumed 10.5 percent nominal GDP growth next year. So, are the budget numbers overly optimistic? What will be the big implications of the Union Budget FY24? To understand that, Forbes India's Nasrin Sultana is joined by Radhika Rao, Senior Economist, DBS Group.
3 Feb 2023
Budget 2023: Demystifying new tax regime
In the last full year Budget before Prime Minister Narendra Modi seeks a third term, the government has announced a slew of measures aimed at appeasing India's middle class.
The finance minister Nirmala Sitharaman proposed various changes in the new tax regime to make it more popular. Out of five major announcements made under personal tax, proposals have been made for salaried individuals opting for new tax regime, change in tax slab rates and introduction of standard deduction. But the new math looks complex and puzzling, leaving a trail of chaos among tax payers trying to understand how will the new taxation structure benefit.
So, to understand and simplify these new taxation proposals that will come into effect from 1 April 2023, Forbes India's Nasrin Sultana is joined by Parizad Sirwalla, Partner and Head, Global Mobility Services, Tax, KPMG in India.
31 Jan 2023
Budget 2023: What stock markets want
At a critical juncture of steep valuations and high volatility in stock markets, comes the Union Budget 2023. However, an analysis of the past trends shows that the Union Budget's influence on short-term market performance is declining. Budget day volatility has risen since 2019 and hit an eleven-year high in 2022. Expectations, as measured by pre-budget equity markets performance, are important in determining what the markets do immediately after the budget.
Only twice in 30 years have the Indian markets risen both pre- and post-budget. Factors that will likely have the maximum impact on markets, this year, include a credible fiscal deficit target, the government's spending plans vs. fiscal consolidation, and changes to long-term capital gains tax.
So, what are the odds for markets this year? What are priced in and what are not? What do stock markets want from the Union Budget 2023? What are long-term bets in markets beyond the Budget?
To discuss that and get to the pulse of Indian markets, Fores India's Nasrin Sultana in conversation with Abhiram Eleswarapu, Head of India Equity, BNP Paribas.
You can listen to other podcasts in the series right here - https://open.spotify.com/show/06JalaGoQsfdLXHedmBlRH
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