Tuhin Kanta Pandey, a seasoned bureaucrat, takes over as SEBI Chairperson, succeeding Madhabi Puri Buch.
"It will be simple, with no provisos or complicated language,” Tuhin Kanta Pandey said, highlighting the significant departure from the current structure of tax laws.
Tuhin Kanta Pandey’s remarks come at a time when the United States is intensifying its protectionist trade policies under former President Donald Trump.
Rejecting the notion that the Budget is skewed towards either consumption or capital expenditure, Tuhin Kanta Pandey tells Moneycontrol that the government has ensured a balanced approach
Monetary and fiscal policies should not work at cross purposes but rather complement each other to ensure balanced economic growth, Tuhin Kanta Pandey told Moneycontrol in an interview.
However, the central government's overall policy on privatisation remains important and should continue, Somanathan added.
TV Somanathan also said that NSSF inflows will not be impacted even if many people shift to the new direct tax regime
“We are assuming that the entire capex will be spent. We have not decided to save money from capex,” TV Somanathan said.
The Union Budget has kept 3.5 percent of gross state domestic product as states' borrowing limit for FY24 which includes a 0.5 percent conditional window linked to power sector reforms.