Government should also reconsider the decision to levy service tax on insurance products.
At the Mint's post budget analysis conference esteemed panelists spoke about growth and Indian economy.
The government is hoping to roll out the GST from April 1, 2016 and the ideal rate for it will be the one which is revenue neutral, Sinha added.
Though FM's tax proposals are expected to have positive impact on corporate tax payers in general, telecom sector's demands such as rationalisation of amended royalty provisions are not addressed to
We are delighted that the budget has fulfilled the wish list of the health insurance sector and delivered on our long standing demand, of increasing the tax deduction limit under section 80D.
In an interview to CNBC-TV18's Shereen Bhan, Anita Kapoor, Chairperson of CBDT & Kaushal Srivastava, Chairperson of CBEC, gave their take on Arun Jaitley's Union Budget, the projections made therein and reflect upon the tax changes the government has brought in.
Rohan Shah, Managing Partner, ELP told CNBC-TV18 that in the short-term the tax for Corporate India has gone up and the hike in service tax was also on cards.
In an interview to CNBC-TV18's Shereen Bhan, Arvind Subramanian, Chief Economic Advisor and Rajiv Mehrishi, Secretary, Finance gave their take on Arun Jaitley‘s Union Budget.
In an interview to CNBC-TV18's Shereen Bhan, Aradhana Johri Secretary, Divestment and Hasmukh Adhia Secretary, Financial Services gave their take on Arun Jaitley‘s Union Budget.
In the Union Budget 2015-16 the Finance Minister Arun Jaitley announced a divestment target of Rs 69500 crore, higher than the previous fiscal's target of Rs 58,425 crore. Speaking to CNBC-TV18, Revenue Secretary Shaktikanta Das said the target looks realistic.
Watch the interview of Sudarshan Sukhani, s2analytics.co, Siddarth Bhamre, Angel Broking, Prakash Diwan of Altamount Capital Management and Mehraboon Irani of Nirmal Bang Securities in which they shared their readings and outlook on market, specific stocks, Union Budget 2015 and on the road ahead.
On extending the timeline for the 3 percent fiscal deficit target by one year, Jaitley said sticking to the earlier deadline would have meant having to cut down on public spending to achieve the target.
In an interview to CNBC-TV18's Menaka Doshi, Senthil Chengalvarayan and Anuj Singhal Dharmesh Mehta of Axis Capital & Gautam Trivedi of Religare Capital Markets gave their take on Arun Jaitley's Union Budget and their outlook on the road ahead.
Adi Godrej rates Finance Minister Arun Jaitley‘s Union Budget an 8 on 10. He says Jaitley‘s Budget will help revive the country‘s GDP as it lays a lot of emphasis on social infrastructure and Indian agriculture.
However, Gautam Trivedi of Religare Capital Markets too agrees that this Budget did not do much to revive domestic consumption. With the service tax hike, it is in fact a little negative, he adds.
In line with expectations finance minister has increased the service tax to 14% from 12% earlier.
DIPP secretary Amitabh Kant said the government is clearing indicating its intentions of making India a 'job creators' country rather than 'job seekers' and is trying to drive entrepreneurship. The government has eased the process of doing business in the country to quite an extent.
In an interview to CNBC-TV18, Kaushik Chatterjee of Tata Steel shares his views on the Union Budget 2015-16 announced today.
There is a clear and sharp focus on the four key areas of Growth, Inclusion, Fiscal Prudence and Tax Rationalisation.
GST would play a transformative role and bring about revolution in the Indian economy. The increase in service tax from 12.36% to 14% would ideally be a precursor to introduction of GST.
While the big ticket investments needed to revive growth have been limited by the need to keep the fiscal deficit roadmap on course, there are major changes in taxation and other areas that are truly reformist.
Jaitley said that the states have now become financially more powerful now that they stood to get 62 percent of the centre‘s tax revenues. In fact, certain Congress-led states stood to gain more than BJP-ruled states under the parameters for the revenue sharing.
On the labour side, finance minister Arun Jaitley has decided to let states take a call, says Panagariya.
Has Jaitley`s second budget lived up to expectations? The answer should be a cautious yes. While the big ticket investments needed to revive growth have been limited by the need to keep the fiscal deficit roadmap on course, there are major changes in taxation and other areas that are truly reformist.
In what would come as a boost to India Inc, Finance Minister Arun Jaitley said the government would cut the base corporate tax rate from 30 percent to 25 percent over the course of the next four years but he added that over the same time, various exemptions granted to corporates will be phased out.