‘Union Budget is FM‘s GIFT to the nation‘

Chanda KoccharICICI Bank

The Union Budget for fiscal 2016 is the Finance Minister’s GIFT to the nation. There is a clear and sharp focus on the four key areas of Growth, Inclusion, Fiscal Prudence and Tax Rationalisation. The budget promotes Growth through its focus on infrastructure and ease of doing business. The theme of Inclusion is reflected in the measures taken to empower all stakeholders – there is greater devolution of resources to States and there are a number of measures for the poor, youth and senior citizens. The Fiscal target of 3.0% by fiscal 2018 articulated by the Finance Minister is prudent while at the same time balances the current growth needs of the economy. The clarity given on the Tax regime will go a long way in making India an attractive destination for investments, and encouraging domestic savings. The budget reflects the vision of the Government and takes India forward on a path of growth and inclusive prosperity