Budget seems to be forward looking & progressive: KRChoksey

Union Budget 2015-16 analysis by KRChoksey:

Finance Minister Arun Jaitley has struck an optimum balance between the imperatives of reducing the fiscal deficit without compromising on planned expenditure for infrastructure growth and the need to increase public investment for kick-starting the investment cycle.

Overall, the budget seems to be forward looking & progressive with a very clear direction. The government seems to be clear on its intentions to focus on higher investment in infrastructure growth and generating skill based employment. The changes in taxation policy, reduction in corporate tax over four years and rationalization of custom duty clearly hint at making India an attractive investment destination and compete with other Asian countries. The government’s thrust at implementing GST and efforts at converting India into a manufacturing hub with its “Make in India” vision will boost industry. Strong measures to curb black money, creation of jobs with a revival of growth and investment will benefit middle class tax payers.

Sabka Saath, Sabka Vikaas” was evident in the budget speech with financial inclusion, education, health and agriculture with an increased focused on infrastructure development, housing and manufacturing in India. The Budget proposals seem to include the interests of diverse sections of society – middle class, farmers, youth, aged and the disabled. The FM’s vision of a house for every family with 24 hour power all accessible by road, at least one member of the family is employed and a better social security system for its citizens to provide financial security all hint at the growth path that India has taken.

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