Sanjay Pai, CFO , Plethico Pharmaceuticals Ltd

Overall the budget is very pragmatic, considering the fact that Indian consumers have been (in various patches) and been deprived of spending money either in terms of layoffs, salary cuts, high tax for individuals etc.

Abolishing of Fringe benefit tax (FBT)was a tax which was yielding peanuts to the department but was costing the employees such as FBT on employee stock options and was a arduous task for accountants. Besides, it is painstaking even for the department to go after small ticket items. Hence it was a win-win situation.

Surcharge of 10% and the cess on the surcharge will leave some money in the Individuals pockets. Marginal increase in tax exemption for senior citizen, women and others. 150% tax deduction for research and development is good for various companies especially Pharma Companies. The 10A/10B was extended for one more year, which again is interesting.

Minimum alternate tax (MAT) increased from 10% to 15%. I think it is a counter balancing measure, but it should be fine.