The Union Budget presented by Finance Minister Nirmala Sitharaman has received a positive response from members of India’s investment ecosystem as well as equity markets.
Several proposals, including those on infrastructure and capital expenditure, have signalled that the Narendra Modi government is keen on driving a growth-led recovery for an economy that was battered by Covid-19.
But how will these proposals affect capital plans for alternative asset managers, foreign portfolio investors, and sovereign wealth and pension funds?
To discuss this and more, VCCircle sat down with PwC India’s Gautam Mehra and Bhavin Shah, who welcomed the positive impact of the budget. Mehra is partner, tax and regulatory, while Shah is PwC India’s deals tax leader and partner.
Some of the topics the two address in this video interview include proposals relating to GIFT City as well as what impact the setting up of a development finance institution will have on infrastructure.