“The nation would have to wait and see its implementation, but the Budget definitely generates substantial amount of positive sentiments. It has a vision of the government to bring out stability and equitable growth in the country. Structurally sorted budget with adequate emphasis on agriculture, rural India, infrastructure and health which will reap benefits in the long run.
It may not be a populous one with incentives but there is enough balancing which has not harmed the common man rather aims at incentivising entrepreneurship in some segments. Benefits of deductions to income below 5 lakh, exemptions on pensions and increase in deductions limits on home loan interest and incentivising low cost housing are good measure.
Although there is nothing direct for the industry or for that matter manufacturing sector, there is enough scope to generate demand and kick start the industry. The proposed spending on infrastructure and rural development definitely has the ingredient to get things going, provided the executions are done well. The attempt to reduce tax litigation is positive on the "ease of doing business" front.”
The author is Raghupati Singhania - JK Tyre & Industries Ltd.