Anuncios realizados por el Honorable Ministro de Finanzas durante la conferencia de prensa celebrada el 23 de agosto de 2019
El Parlamento indio aprobó la Ley de Finanzas (núm. 2) de 2019 en julio de 2019. Al tratarse del primer presupuesto presentado por el Gobierno tras obtener una amplia mayoría en las recientes elecciones a la Cámara Baja del Parlamento, el objetivo era estabilizar la economía y emprender reformas macroeconómicas estructurales para entre otras cosas obtener beneficios del ejercicio de desmonetización realizado en noviembre de 2016 y de la introducción del impuesto sobre bienes y servicios en julio de 2017. El presupuesto también se basó en la optimización fiscal, el aumento de la base imponible y la sostenibilidad en todos los aspectos.
Desde los albores de 2019, la economía mundial se ha visto gravemente paralizada por las continuas guerras comerciales, sanciones económicas, subidas de tipos de interés, incertidumbres políticas, calamidades naturales, etc.
El impacto de los factores globales, junto con la reducción del consumo interno y las inversiones tibias, han provocado llamadas de pánico en toda la industria. Los beneficios empresariales han registrado tasas de crecimiento reducidas y los mercados bursátiles se han desplomado. El pánico comenzó en el sector del automóvil, que más tarde se extendió a los bienes de consumo masivo, los bancos, las instituciones financieras, la ingeniería, los metales y otros sectores clave.
Coincidentemente, la tasa de crecimiento del producto interno bruto («PIB») de la economía india durante el período comprendido entre abril de 2019 y junio de 2019 ha caído hasta un mínimo de 6 años del 5%, desde una tasa de crecimiento intertrimestral del 5,8% y una tasa de crecimiento intertrimestral del 8%.
Con el fin de abordar las preocupaciones planteadas por los inversores nacionales y mundiales y garantizar a la industria en general el compromiso del Gobierno de dirigir la economía hacia el crecimiento, el Honorable Ministro de Finanzas, Smt. Nirmala Sitharaman («FM») hizo una presentación de una hora el 23 de agosto de 2019, en lo que en sí mismo puede denominarse un «minipresupuesto».
La FM hizo una presentación de estilo corporativo, en la que enumeró las medidas adoptadas por el Gobierno hasta el momento, anunciadas y que se adoptarán en el futuro. Los anuncios abarcaban desde los mercados bursátiles hasta el sector automotriz y las microempresas, pequeñas y medianas empresas («MIPYMES») y, en general, se centran en ayudar a la economía a superar el impacto de la desaceleración mundial.
El ministro de Finanzas ha reiterado que el Gobierno respeta a los creadores de riqueza y emprendería varias reformas y simplificaciones de las leyes para facilitar la vida de los contribuyentes. Como ya se anunció en el presupuesto, estas medidas se anunciarán pronto.
Además, el gobierno también ha anunciado varias reformas estructurales, la coordinación intersectorial, la simplificación de los procesos, las medidas para la expansión del crédito y la demanda interna, el aumento de las inversiones en los mercados de capitales, etc.
Los anuncios clave sobre diversos temas se resumen a continuación:
1. Previo al impuesto sobre la renta de las declaraciones de TI
Se espera que las declaraciones de impuestos sobre la renta prellenadas sean una realidad a partir de 2020. La Junta Central de Impuestos Directos («CBDT») está trabajando para crear la infraestructura necesaria. Este servicio tiene como objetivo facilitar a los contribuyentes el proceso de presentación y cumplimiento de impuestos.
Income Tax Highlights
Key Income Tax Announcements
| S. No. |
Feature |
Description |
| 1 |
Faceless Income Tax scrutiny |
Most income tax scrutiny proceedings to be faceless, expanding the scope of ‘e-proceedings’ to cover various other processes under the Income Tax laws. |
| 2 |
Unique Document Identification Number |
All communications by income tax authorities from 1 October 2019 must have a computer-generated DIN. Communications without it are invalid. |
| 3 |
Time limit for disposal of notices |
All pending notices before 1 Oct 2019 must be reissued with DIN. All notices from 1 Oct 2019 must be resolved within 3 months of taxpayer's response. |
| 4 |
Relief from enhanced surcharge on Capital Gains |
Exemption from enhanced surcharge on LTCG and STCG (Section 111A & 112A) for equity shares and equity-oriented mutual funds to boost market confidence. |
| 5 |
Withdrawal of Angel Tax for Startups |
Section 56(2)(x) not applicable to DPIIT-registered Startups. Dedicated CBDT cell to resolve Startup tax issues quickly. |
| 6 |
Higher depreciation for vehicles till March 2020 |
Additional 15% depreciation (total 30%) on vehicles acquired during FY 2019-20 to support the automobile industry. |
2. Derecho corporativo
Key Company Law Reforms
| # |
Initiative |
Description |
| 1 |
Quick incorporation of Companies |
Incorporation can now be done within one day with a Central Registration Centre and an integrated form offering auto-registration under multiple laws. |
| 2 |
CSR Violations |
Violations are now treated as civil liabilities instead of criminal offences. Companies also get more time to complete ongoing CSR projects. |
| 3 |
Shifting 16 offences to penalties |
Several offences have been converted to monetary penalties and made compoundable to reduce harsh treatment and avoid prosecutions. |
| 4 |
Easier Mergers & Acquisitions |
Approval processes for M&A transactions have been rationalised and simplified, making them faster and more efficient. |
| 5 |
Differential Voting Rights (DVR) |
Promoters can retain control while raising funds via DVRs—helpful for long-term growth and attracting global investors. |
| 6 |
Withdrawal of prosecutions |
Over 14,000 prosecutions under the Companies Act have been withdrawn to promote ease of doing business and shift away from criminal proceedings. |
| 7 |
IBC amendments for MSMEs & homebuyers |
IBC framework is strengthened to support MSMEs and protect home buyers, ensuring clarity and consistent interpretation by courts. |
3. Derecho laboral
Key Labour Law Reforms
| # |
Initiative |
Description |
| 1 |
Fixed term employment for flexibility in hiring |
Permits businesses to hire on fixed-term contracts, offering more transparent and flexible alternatives to contract-based hiring. |
| 2 |
Reduced ESIC contribution to 4% |
Statutory ESIC contribution by employers and employees has been reduced from 6.5% to 4%, increasing employees’ take-home pay. |
| 3 |
Web-based Inspections |
Inspections are now web-based and jurisdiction-free to reduce harassment. Physical inspections must be followed by a report within 48 hours. |
| 4 |
Compounding of offences |
Offences under labour laws can now be compounded, similar to other laws, making compliance easier and litigation less frequent. |
| 5 |
Startup-friendly labour law self-certification |
Startups can self-certify compliance with labour laws and will not face inspections for the first 3 years unless complaints arise. |
4. Ley del impuesto sobre bienes y servicios («GST»)
Key GST Reforms
| # |
Initiative |
Description |
| 1 |
Reduction in GST returns and simplification of forms |
The GST Council has revised return formats under GST, launched on a trial basis. The return filing system is simplified and applicable from November 2019. |
| 2 |
Simplification of refund process under GST |
Procedural issues in processing GST refunds have been simplified, with most processes automated and approval timelines streamlined. |
| 3 |
Risk-based approach in dealing with taxpayers |
The CBIC is implementing a risk-based policy approach for assessments and inquiries under GST law. This method aims to enhance efficiency in the collection and administration of GST. |
| 4 |
GST Refunds to MSMEs |
All pending GST refund claims for MSMEs will be processed within 30 days. Future refunds will be processed within 60 days from the application date. |
5. Measurements in the bank ectors and of NBFC
Key Banking Reforms and Initiatives
| # |
Initiative |
Description |
| 1 |
Additional Credit expansion through Public Sector Banks (‘PSBs’) |
The Government will release INR 70,000 crores as announced during Budget 2019 to boost credit. This will benefit corporates, MSMEs, small traders, etc. |
| 2 |
Banks to effect timely rate cuts |
Banks will pass on rate cuts by reducing the Marginal Cost of Funds based Lending Rate (MCLR) to borrowers, benefiting loan recipients. |
| 3 |
Banks to launch Repo rate/ external benchmark linked loan products |
Banks will introduce loan products linked to Repo rates or external benchmarks, translating into lower EMIs for housing, vehicle loans, and working capital. |
| 4 |
Customer Ease – Return of documents provided as security |
PSBs will ensure return of loan documents within 15 days of loan closure, reducing hassle for borrowers who have mortgaged assets. |
| 5 |
Support to NBFCs/ HFCs |
The Government will provide additional liquidity support of INR 20,000 crores by NHB to HFCs, supporting house, vehicle, and consumption goods purchases. |
| 6 |
Transparent One Time Settlement (OTS) Policy |
Banks will issue an improved and transparent OTS policy for settling overdue loans with MSME and retail borrowers, fostering greater transparency. |
| 7 |
Protecting honest decision making by bankers in commercial decisions |
The Central Vigilance Commission has issued guidelines to protect bankers' decisions in commercial matters, with the IAC's decision being final. |
| 8 |
Use of Bank KYCs by NBFCs |
NBFCs can use Aadhaar authenticated bank KYC for customer onboarding, streamlining the process and ensuring faster customer access. |
| 9 |
Co-origination of loans by PSBs jointly with NBFCs |
PSBs will collaborate with NBFCs to provide loans to various segments such as MSMEs, Small traders, and Self Help Groups, boosting last-mile connectivity. |
6. Sector de MIPYMES
Key MSME Initiatives
| # |
Initiative |
Description |
| 1 |
MSME Bill discounting through GSTN |
The Trade Receivable Discounting System (‘TreDS’) is an online bill discounting platform helping MSMEs raise funds by selling trade receivables to buyers. The GSTN system will be used in the medium term to facilitate bill discounting for MSMEs. |
| 2 |
Definition of MSME |
The Government is considering amendments to the MSME Act to adopt a single definition for MSMEs. |
| 3 |
Recommendations of the UK Sinha Committee |
The UK Sinha Committee has provided recommendations on credit, marketing, technology, and delayed payments for MSMEs. The Government plans to review these recommendations and implement necessary actions within 30 days. |
7. Mercados financieros
Key Financial Market Initiatives
| # |
Initiative |
Description |
| 1 |
Deepening of bond markets in India |
The Government plans to establish an organization to provide Credit Enhancement for infrastructure and housing projects, improving debt flow. Efforts are underway to develop Credit Default Swap markets and enhance bond market conditions. Additionally, the requirement for a Debenture Redemption Reserve (DRR) has been removed for listed companies, NBFCs, and HFCs. |
| 2 |
Access of Indian Companies to the Global Markets |
The Depository Receipt Scheme, expected to be operational soon, will give Indian companies greater access to foreign funds through ADRs and GDRs. |
| 3 |
Use of Aadhaar-based KYCs for domestic retail investors |
Aadhaar-based KYC is now permitted for opening Demat accounts and investing in mutual funds, streamlining market access for domestic retail investors. |
| 4 |
Simplified KYC for foreign investors and FPIs |
The KYC procedure for foreign investors, including FPIs, will be simplified to improve market access and investment inflows. |
| 5 |
Offshore Rupee market |
The Ministry of Finance is collaborating with the RBI to facilitate increased participation in the offshore Rupee market and introduce trading of USD-INR derivatives in the GIFT IFSC. |
8. Infraestructura
Key Government Infrastructure Initiatives
| # |
Initiative |
Description |
| 1 |
Delayed Payments |
All delayed payments from Government/ CPSEs will be monitored by the Department of Expenditure and reviewed by the Cabinet Secretariat to provide cash flows into the system, facilitating infrastructure investments. |
| 2 |
Payment of Arbitration Awards |
The Government has decided to make payments aggregating to 75% of arbitral awards in case of contractual disputes by Government/ CPSEs while pursuing legal remedies. These payments will be implemented and monitored by the Cabinet Secretariat. |
| 3 |
Investments for Developing Modern Infrastructure Over 5 Years |
An Inter-Ministerial Task force has been constituted to finalize the pipeline of infrastructure projects and make investments of INR 100 lakh crores over the next 5 years to boost growth and create jobs. These projects will be actively monitored. |
9. Sector automotriz
- Todos los vehículos BS IV comprados hasta el 31 de marzo de 2020 permanecerán operativos durante todo el período de registro.
- La revisión de las tasas de registro únicas para los vehículos se aplaza hasta junio de 2020.
- Tanto los vehículos eléctricos («vehículos eléctricos») como los vehículos comerciales intermedios («ICV») seguirían matriculándose incluso después de abril de 2020
- El Gobierno se centraría en la creación de infraestructura para el desarrollo de accesorios y componentes de automóviles, incluidas las baterías para la exportación.
- El Gobierno ha levantado la prohibición de comprar vehículos nuevos para reemplazar todos los vehículos antiguos por parte de sus departamentos con el fin de impulsar la demanda. El Gobierno espera que otras partes interesadas de la economía sigan su ejemplo
- El Gobierno está estudiando activamente otras medidas, incluida la introducción de una política de desguace de vehículos viejos.
10. Sector de vivienda
Key Government Housing Initiatives
| # |
Initiative |
Description |
| 1 |
Relaxation of ECB Guidelines for Affordable Housing |
ECB guidelines would be relaxed to facilitate financing of eligible home buyers under the PMAY, in consultation with RBI. These benefits are in addition to the existing ECB norms for the affordable housing segment. |
| 2 |
House Building Advance |
The interest rate on House Building Advance shall be lowered and linked with the 10 Year Government Securities (G-Sec) Yields. Government servants contribute to a major component of demand for houses, encouraging more government servants to buy new houses. |
| 3 |
Special Window for Affordable and Middle-Income Housing |
A Special Window will be provided for last mile funding of housing projects in the affordable and middle-income categories. The Fund, with an expected size of INR 10,000 crores, will focus on unfinished units and will receive contributions from both the Government and private investors like LIC, banks, sovereign funds, etc. |
Esto es todo lo que necesita saber: Medidas para impulsar las exportaciones | Parte 2 | Anuncios del Ministerio de Hacienda
