LSI Budget News Flash : Analysis of Corporate Law proposals

1. Earlier today, Finance Minister, Mr. Arun Jaitley, presented the Union Budget for the year 2016-17.
2. With an objective to further ease doing business in India, FM proposes to introduce Bill to amend Cos. Act, 2013 in the current Budget Session and states “Bill would also improve the enabling environment for start-ups. The registration of companies will also be done in one day”.
3. With an intention? of benefitting farmers, ?giving impetus to food processing industry and creating employment opportunities, FM announces reforms in FDI Policy and proposes 100% FDI through FIPB route in marketing of food products produced and manufactured in India.
4. FM also proposes amendment to the RBI Act, 1934 for providing statutory basis for Monetary Policy Framework and a Monetary Policy Committee, states “committee-based approach will add lot of value and transparency to monetary policy decisions”.
5. On the taxation issue relating to start-ups, FM suggests 100% deduction of profits for 3 out of 5 years, for start-ups ?set-up during April 2016 to March 2019.

Click here to read the detailed analysis of corporate law proposals in the Budget 2016.

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