and for more on this joining us live on this broadcast is daniel lacour chief economist at tresses daniel thank you very much for making time and joining us what's the hallmark of this uh budget 2022 in india i think uh good morning i think that uh this budget means continuity what the government is aiming is basically to continue with the support of the economy particularly small and medium enterprises and startups and to maintain an accommodative policy that will allow to reduce the deficit by a very little margin but at least to maintain a certain level of growth above the trend that we saw in 2019 before the pandemic so in general i would say that it's uh that it's basically continuing with the same policies uh and maintaining a prudent uh expectation of budget deficit well the government has introduced a 30 percent uh crypto tax what is your assessment on that i don't think it's a very good idea to be fairly honest i think that the crypto tax doesn't uh uh help uh india in terms of its uh strive to become a startup nation because even if some businesses ha in technology have nothing to do with crypto they they are not going to like the fact that there is some some taxation of that kind of of of measure no i think that what india needs to do is the opposite i think that what india needs to do is to attract the investment and the capital that is going into cryptocurrencies because that is good likely to be a very strong amount of of investment and and of startup creation in the next years daniel this is sumit and joining from beyond newsroom once again and i would like to ask you the competence of india and global markets what according to you has the budget done anything to increase the competitiveness of india in the global market exercise because kobe 19 after that overall pandemic every country is finding markets in other countries what do you assess as far as the increasing exports are concerned and what should india do now i think that what india what the government is doing with the budget is a step in the right direction okay and i think it's positive because it's allowing uh small and medium enterprises to grow which is a key factor for competitiveness what india needs to do is to go from a country of very small companies uh to a country in which the the this muscle and the and the strength of those businesses is is higher so that they can endure and they can export more i think that the in terms of exports what the government needs to do as well is to provide a certain incentive in terms of legal security and provide support from businesses in order to get uh the access for example to bills of lading credit uh security in terms of uh sales so basically credit security and uh working with banks and with the financial system to achieve that is a very important goal that bet is that is ongoing but needs to strengthen daniel la call thank you very much for your insights and for talking to eon today we on is now available in your country download the app now and get all the news on the move
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