All BUDGET EXPECTATIONS
Ravi Shankar Prasasd
Law and Telecom Minister
Government of India
I don’t completely discount the BSNL-MTNL merger but as of now my main focus is to reviving the health of these two companies.
After a pre-budget economic survey suggesting the need for big bang reforms for ensuring high growth, the budget did not contain any major reform measures.
The budget gives 'long term' direction by way of reducing Corporate Tax from 30% to 25% which is definitely welcome.
The impetus to Infrastructure, Agriculture and Education sectors is laudable though the much expected big bang reforms are yet in the waiting.
Allocation of INR 70,000 crores to Infrastructure sector, tax-free bonds for projects in rail road and irrigation, revitalising the PPP model for infrastructure development - are just some of the inclusions which will help growth of infrastructure an
A higher allocation of Rs 70,000 crore in the infrastructure space over last fiscal will provide further wings to the economy to achieve over 8% growth in the coming years.
This budget would strengthen the social fabric, improve governance and tax rationalization. Overall a positive budget for both corporates and individuals.
Clarity on GAAR deferment for two years and no retrospective applicability, comprehensive bankruptcy code, abolishing wealth tax act, merger of FMC with SEBI, rationalization of corporate tax from 30% to 25% coupled with review of deductions, etc. su
MD & CEO
Resources freed from lower commodity and oil prices has been judiciously deployed in a well thought out way.
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