Budget expectations 2022

Current Environment

• The Indian economy is recovering from the COVID-19 impact and is gradually picking up amidst these uncertain times and volatile environment, caused by various disruptions, high inflation, and geo-political tensions. The Indian equity markets have scaled new highs in 2021, buoyed by strengthening signs of recovery in economic activity and a strong demand outlook.
• The financial services sector can help define the economy and would need to be its backbone, by playing a pivotal role for strength and stability, while operating in a changing world. From banking and capital markets, to insurance, investment management, and commercial real estate, financial services firms are prioritising digital transformation which could be a big disruptor and create new leaders in the industry.
• With an aim to aid further development and enhance the financial services systems within India and thereby, augment the economic growth, the Union Budget 2022-23 could introduce additional regulatory and tax relaxations to boost spending on innovation and propel growth in the financial services sector.