Union Budget 2017-18: FII inflows will increase significantly going forward: CII

CNBC-TV18’s Ronojoy Banerjee spoke to Naushad Forbes, President, CII, Vipin Sondhi, MD & CEO, JCB India, Rajiv Memani, Chairman - Global EMs Committee EY and Chandrajit Banerjee, Director General, CII who gave their views on Union Budget 2017-18. Here’s what they had to say.“We see this as a step in that process. To reduce corporate taxes at one go to 25 percent for all micro, small and medium enterprises (MSMEs) that have total turnover of less than Rs 50 crore, that is 96 percent of all companies is a very good move. We would have liked to have seen it applied more broadly to all corporate companies”, said Naushad Forbes.“The real estate sector as a whole has not been moving forward and affordable housing getting infrastructure and the allied benefits will have a tremendous multiplier effect…the focus on railway safety was a tremendous focus and that is good… that should kickstart a whole process of what we absolutely need, said Vipin Sondhi.Rajiv Memani said, “I certainly feel that the Foreign Institutional Investors (FII) flows into India in the next quarter or so will increase significantly”. He also said, “this budget will be remembered for touching political funding”.Chandrajit Banerjee said, “the government in the Budget continued with its promise of few things out of which one is basically keeping its promise on continuing to make doing business easier, doing away with unnecessary regulatory bodies that we had, make it more transparent, kept its focus on digitalisation, corruption – when one really talks about political funding.”Watch video for more..