By Tricitynews Reporter
Chandigarh
01st February:- Shanti
Ekambaram, President, Consumer Banking, Kotak Mahindra Bank quoted that the
budget presented by Finance Minister, Arun Jaitely is positive and growth oriented. Shanti Ekambaram further
mentioned that there was a lot of anticipation and apprehension about Budget
2017. There was enough to satisfy those anticipating, and relief for those who
were apprehensive. The big push to expenditure for farmers, rural sector,
affordable housing and infrastructure will give a fillip to growth and
employment. Putting more money in the hands of the common man through tax rate
reduction, encouraging FDI, measures for education, skilling and employment of
youth are all positive measures for economic growth over the next few years. A
commitment to the path of fiscal prudence has been made, although fiscal
deficit was pegged higher at 3.2% keeping in mind the need to increase public
investments in the absence of private sector investments to ensure GDP growth.
Reduction in corporate tax rate for MSMEs, measures to increase transparency by
restricting cash transactions to Rs 3 lakh and change in framework of political
funding are welcome. The reduction in capital gains period for real estate is a
positive move. A big thrust to digital transactions is a step in the right
direction. Overall, it is a positive budget with focus on the right segments,
with an aim to increase tax to GDP ratio and targeted expenditure to give
growth and employment a fillip.
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