Comments
Budget 2015 has focussed mainly on financial inclusion, re-generation of agriculture and functional social system for the people, Arun Kumar Saraf, President, MCC Chamber of Commerce and Industry, has said.
The Budget, he said, has reflected considerable scaling of public investment in infrastructure growth like roads, railways and irrigation facilities though an increase of 17,000 crore which will considerably boost the growth of these sectors.
The Finance Minister has viewed CAD to remain below 1.3 per cent of GDP in the current year and fiscal deficit at 3.9 per cent of GDP which is much higher than the standard norm of 2.5 per cent for a healthy economy.
Saraf, however, feels that the plan to make ‘Make in India’ vision of the Prime Minister a success needs further clarity and fine-tuning.
While corporate tax reduction, the existing exemptions and incentives have been withdrawn, the budget has made the net tax burden heavier on the corporate sector. Incentives for earning individuals have also not been sufficiently raised to stimulate domestic saving from 30 per cent at present and create additional market demand.
The projected dis-investment is not substantial to create any impact, he added.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.