Thread by @IamMisterBond

#Budget2023WishList:
For #MutualFund Industry:
@nsitharaman
1. Removal of #GST for commissions paid to #MutualFundDistributors who cannot recover the same from their investors. Only industry where this happens

We need more #MFDs to achieve goal of reaching Rs.100 lac crs in AUM

Removal of #LTCG from #Equity and #EquityMFSchemes. Will have very low impact on fiscal collections.

But it will improve sentiments and move funds from non-productive assets like #Gold to #FinancialAssets like equity.

#MutualFunds help in mobilizing small savings - channelizing them into building economy thru #Equity & #Debt. This will help in reaching $5 trln GDP target

Increasing investment limits u/s 80C for #ELSS investments. Once again diverting funds from non-productive to productive financial assets.

These are all optics - which will help in improving market sentiments as well

Encouraging schemes/strategies which help in #Retirement planning. Since there are no social security in India, this will help #SeniorCitizens.

Exempt tax on #SWP for Senior Citizens to generate cash flows. Again optics to improve sentiments & encourage #SWP

#SeniorCitizens have already paid taxes throughout their lives. Make their investment income (from their retirement corpus) tax free (irrespective of investment vehicle - be it interest, dividend, capital gains, etc)

Also, reduce #GST on premiums on #HealthInsurance or exempt it totally.

#COVID has shown how expensive this can be. Make Health Insurance affordable for all age groups