“In general, it is a lack-lustre budget. The budget has anyway given some leeway for Dividend Distribution Tax at one level when the companies have many upstream companies/holdings and were taxable at every level.
The elimination of import duty on Nickel ore/concentrate from 2.5% and 7.5% to zero % is welcome. But the increase of service tax from 10 to 12% will only stoke inflation.
There is no word about currency management and also about the relaxation of forex controls.