Business Friendly Budget
The annual budget of India, known as the Union Budget, has recently been announced. To create infrastructure and build business facilities, the Budget has allocated nearly 4 lakh crore in investments, which is a positive move. As per the budget announcement, the government is going to revise the existing labour code to cater to the changing needs of today’s business organisations, IT and technology-based firms in particular. Moreover, the government has also decided to abolish the notorious Foreign Investment Promotion Board (FIPB) to make it easier for international investors to do business in India without falling prey to bureaucratic redtape. Overall, the budget is business-friendly and will help India revive private investment.