Union Budget 2023-24 has reshaped the landscape of capital investment in India: Prateek Toshniwal

Surat (Gujarat) [India], February 2: Prateek Toshniwal, a renowned chartered accountant, has said that the Union Budget 2023-24 has reshaped the landscape of capital investment, and the new policies will go a long way in reviving the startup ecosystem in India.

The Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) scheme announced by Finance Minister Nirmala Sitharaman in the Union Budget 2023-24 will be a game changer for small and medium businesses, especially the startups in India… It is expected to provide an additional Rs 2 lakh crore in collateral-free credit to the MSMEs.

According to Prateek Toshniwal, a well-known chartered accountant (CA), the CGTMSE to be implemented on April 1st will aid collateral-free lending to small businesses, with the government infusing Rs 9,000 crore.

“India’s economy is on track to grow at 7% in the current fiscal year, the highest among developed economies worldwide. There is no reason to doubt that India will persevere in the face of adversity,” said Toshniwal.

Finance Minister Nirmala Sitharaman has estimated 7% growth in the current fiscal year by increasing Capex expenditure by 33% to Rs 10 lakh crore for FY24, which is higher than the Rs 7.5 lakh crore budget estimate for 2022-23. However, public capital expenditures will account for 3.3% of GDP at this level.

The finance minister has proposed various diligent measures with a prominent focus on the seven tenets of SAPTARISHI to be accomplished during Amrit Kaal, namely, Inclusive development, reaching the last mile, enhanced focus on infrastructure & investment, unleashing the potential of the financial industry, Green growth, Youth Power and the progress of Financial Sector.

“It is an excellent budget for capital investors and investment networks, and it will strengthen the country’s financial investment ecosystem,” Toshniwal said.

Business

Sapphire Media Acquires Radio BIG 92.7 FM, Marks a Crucial Milestone for Indian Radio Industry

New Delhi [India], May 17: In a historic move that is a dramatic shift for India’s broadcast and media sector, Sapphire Media Limited has officially completed the acquisition of BIG 92.7 FM, an extensive and successful Indian radio network. The acquisition establishes Sapphire Media as a significant player in the converged media space, integrating television, […]

Read More
Business

Dhruv Consultancy Services Achieves Strong 360% Cons. Net Profit Growth in Q4 FY25

Mumbai (Maharashtra) [India], May 17: Dhruv Consultancy Services Ltd. (BSE – 541302: NSE – DHRUV), one of the leading infrastructure consultancy companies in India, reported an audited financial result for the Q4 & FY25. Key Financial Highlights: Consolidated Key Financial Highlights Q4 FY25 Total Income of ₹ 28.03 Cr, YoY growth of 12.09% EBITDA of […]

Read More
Business

Intense Technologies Powers Ahead with 32 Percent Growth in Revenue YoY

Mumbai (Maharashtra) [India], May 17: Intense Technologies Limited (NSE: INTENTECH | BSE: 532326), a globally operating platform-led services company delivering mission-critical solutions in customer communications, data management, and process automation, today announced its audited Q4 FY25 results, highlighting its continued impact across the BFSI, Telecom, and Government sectors. Key Consolidated Financial Highlights FY25 Total Income of ₹ 15,370.31 Lakhs, […]

Read More