Jairaj Purandare, Founder Chairman, JMP Advisors Pvt. Ltd.
India’s “Goldilocks moment”: low inflation, high growth, and controlled unemployment
Strong resilience amid global uncertainty and volatile markets
Podcast
Overview
In this episode of The Brand Called You, host Ashutosh Garg sits down with Jairaj Purandare, a leading taxation expert and corporate leader from Mumbai, to unpack the key highlights and implications of India’s latest Union Budget. If you missed the episode, here is a structured summary with key timestamps and themes explained.
00:01:14 – What are the key highlights of the Budget 2026–27, and how does it compare with previous years?
India’s “Goldilocks moment”: low inflation, high growth, and controlled unemploymentStrong resilience amid global uncertainty and volatile marketsMajor reforms in labour codes and the rollout of GST 2.0Increased infrastructure spending, with a projected outlay of ₹12.2 lakh croreSelective focus on seven manufacturing sectors, including semiconductors and electronicsGrowing emphasis on Tier 2 and Tier 3 cities as new engines of growthBoost for tourism, temple towns, and skilling initiativesIndia’s shift from a “developing economy mindset” to confident global leadership00:07:28 – Is this truly a long-term ‘resilience’ and ‘stability’ budget?
Introduction of a new income tax law after 60 yearsEmphasis on simplification and rationalisation rather than frequent policy tweaksTax holidays for investments in data centres and electronics manufacturingForward-looking reforms aimed at attracting global investment, especially in technology and AI00:10:28 – What simplifications can taxpayers expect in compliance and e-filing?
Introduction of simpler tax forms (Forms 1 and 2), reducing the need for chartered accountantsA more stable compliance environment with minimal year-on-year changesA single form for dividend income and tax-exemption claims through depositoriesStreamlined safe harbour rules for IT and ITeS sectors00:12:46 – How does the reduction in income tax prepayment (from 20% to 10%) impact cash flow?
Prepayment on tax and penalties during assessments reduced to 10%Penalties consolidated within the assessment process, reducing separate litigationAdvance tax provisions remain unchanged00:14:55 – What changes affect non-residents and MAT exemptions?
MAT exemption extended to cruise ship operators and electronics manufacturing unitsMAT rate reduced from 15% to 4%, with limits on future credit utilisationRestrictions introduced on setting off past MAT credits under the new tax regime00:18:00 – What’s new regarding standard deductions and ITR filing deadlines?
No changes to standard deduction limits, which were revised in the previous yearOne-month extension for non-audit cases (from 31 July to 31 August)Three-month extended window for filing revised returns00:20:09 – What does the one-time Foreign Asset Disclosure Scheme mean for small taxpayers?
Opportunity to declare previously undisclosed foreign income or assetsPayment of 30% tax plus an additional 60% charge to avoid prosecution under the Black Money ActScheme applies to income/assets up to ₹1 crore and undisclosed assets up to ₹5 croreA final opportunity for compliance amid enhanced global information-sharing mechanisms00:23:38 – What is the impact of the increased Securities Transaction Tax (STT) on derivatives?
Higher STT rates on futures and options to curb excessive retail speculationImpact felt across individual traders as well as large funds and institutionsLearn more about Jairaj Purandare: LinkedIn
Infrastructure gets a major boost with a projected ₹12.2 lakh crore outlay next year. From rail corridors and waterways to a strong push in southern India, the focus is expanding beyond metros—positioning Tier 2 and Tier 3 cities as the next engines of growth. Share your thoughts in the comments and spread these insights with friends
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India’s “Goldilocks moment”: low inflation, high growth, and controlled unemployment Strong resilience amid global uncertainty and volatile markets Major reforms in labour codes and the rollout of GST 2.0 Increased infrastructure spending, with a projected outlay of ₹12.2 lakh crore Selective focus on seven manufacturing sectors, including semiconductors and electronics Growing emphasis on Tier 2 and Tier 3 cities as new engines of growth Boost for tourism, temple towns, and skilling initiatives India’s shift from a “developing economy mindset” to confident global leadership
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