The Union Budget 2017 looks positive for foreign investors, says Jonathan Schiessl of Ashburton, noting foreign flows into India have been disappointing in last 1-2 years.
Budget 2017 has achieved balance between focus on investment & fiscal prudence, said Chanda Kochhar, MD and CEO of ICICI Bank.
Finance Minister Arun Jaitley, in his Budget speech today, proposed merging of all oil public sector units (PSUs) to create one integrated company. It a welcome move and will create synergies in the sector, said the oil minister Dharmendra Pradhan.
CNBC-TV18‘s Ronojoy Banerjee spoke to Naushad Forbes, President, CII, Vipin Sondhi, MD & CEO, JCB India, Rajiv Memani Chmn - Global EMs Committee EY, Chandrajit Banerjee Director General, CII who gave their views on Union Budget 2017-18. Here‘s what they had to say.
Listing his views on the policy announcement, Gulabchand told CNBC-TV18 that the government government has understood that there is a lack of demand and that it must step in to create demand.
With tax rate cut to 25 percent for small and medium enterprises with revenue under Rs 50 crore per year, we are ahead of the roadmap, says the CEA. This new tax rate creates a level playing field for all corporates, he adds.
The government is giving a push to spending but from where will the funds come from, wonders R Shankar Raman of L&T. He also said, the government is betting big on wider tax base as one of the funding mechanisms.
In an interview to CNBC-TV18‘s Surabhi Upadhyay, Sanjay Tolia, Partner Tax at PwC, Samir Kanabar, Partner at EY, Feroze Azeez, Deputy CEO, Anand Rathi Private Wealth and Nitin Jain, CEO, Global Asset Management at Edelweiss shared their views on what does this Budget mean for your personal wealth, taxes and your life as a common citizen of India.
CNBC-TV18‘s Sapna Das spoke to Secretary of Finance, Ashok Lavasa wherein he gave the reason for the deviation in the fiscal number to 3.2%.
The Union Budget for 2017-18 focused on lifting rural incomes while simultaneously pressing ahead with reforms in several sectors of the Indian economy.
In an interview to CNBC-TV18‘s Latha Venkatesh and Anuj Singhal, HP Ranina, Corporate Lawyer, Shikha Sharma, MD & CEO, Axis Bank, R Shankar Raman, Whole-Time Director & Chief Financial Officer, L&T and Sanjay Dutt, Director at Quantum Securities gave their take on Arun Jaitely‘s Union Budget and their outlook on the road ahead.
Watch the accompanying video where in PM Modi reacts to Arun Jaitley's Budget 2017.
In an interview to CNBC-TV18‘s Rituparna Bhuyan, Nirmala Sitharaman, Commerce Minister gave her take on Arun Jaitely‘s Union Budget and outlook on the road ahead.
In an interview to CNBC-TV18‘s Shereen Bhan, Hasmukh Adhia, Revenue Secretary gave his take on Arun Jaitely‘s Union Budget and outlook on the road ahead.
Deepak Parekh, Chairman, HDFC is disappointed that there was nothing on corporate tax, except a proposal to cut corporate tax rate for MSMEs (Micro Small and Medium Enterprises) having revenues less than Rs 50 crore to 25 percent.
Watch accompanying videos of Finance Minister Arun Jaitely presenting the Union Budget 2017.
A few hours before Finance Minister Arun Jaitley presents Union Budget, a cohort of India Inc captains expect the Budget to provide a stimulus to job creation and the farm sector.
Chetan Ahya, Co-Head Of Global Economics & Chief Asia Economist, Morgan Stanley expects fiscal deficit target to be kept around 3.3 percent. He also believes an increase in PSU bank recapitalisation to Rs 25,000 crore will lift sentiment.
Economist, Jahangir Aziz, Asia Economic Research, JPMorgan thinks the government will stick to the path of fiscal consolidation of around 3.2 to 3.3 percent.
Talking about her expectations from the Union Budget 2017 in India, Katalin Gingold, Head of Equity Research, Cartica Capital hopes that the government would resist making it a populous Budget and continue it path of fiscal consolidation.
Such exemptions would aid funds infusion into infrastructure projects and also allow for potentially reasonable returns, said M K Surana, Chairman and Managing Director, HPCL.
Sunil Subramaniam, CEO, Sundaram Mutual believes 2017 the government will focus on rural economy and infrastructure space in the upcoming Union Budget as they will aim to kick-start the economic growth.
In an interview to CNBC-TV18 Abinash Verma, DG, ISMA said the news is negative for the industry and that ISMA has requested the government to continue with both cess and SDF. He added it has also requested the government to revise the cess to a lower rate rather than scrapping it completely.
The optimism around US economy's growth and a strengthening dollar are signs that IT companies are going to give out a stellar performance in the long-term, says Mahesh Nandurkar, India Strategist at CLSA.
The finance ministry has rolled out a list of sectors and is inviting response from people on which sectors need more attention in the Budget on Twitter.