Budget Reactions: Housing benefits, RGESS clarity welcome: KPMG

Vineet Agarwal
KPMG India

• The Finance Minister has proposed many measures to promote inclusive growth and spur investments. The Finance Minister in his speech has reiterated that clarity in the tax laws and non-adversarial tax administration is of paramount importance.
• The personal tax rates and income slabs have been kept unchanged for most of the common man and a small relief has been provided to people earning upto Rs 5 lakhs.  On the expected lines, a one-time additional surcharge has been proposed at 10% for those earning more than Rs 1 cr income as commonly referred as super-rich tax. 
• The housing benefit and clarity on RGESS is a welcome change as well it’s good to see more clarity on DTC, GST and GAAR provisions.  Overall it’s a good progressive budget.