By the Large, the India Inc Is Upbeat About the Budget Proposals for the 2017-18. Budget Is Widely Hailed for Its Initiatives to Create Infrastructure for a Cashless Economy, Individual Tax Payers With Income Upto Rs 5 Lacs Also Feel Much Relieved on the 5% Tax Relief.
Well Rounded Budget
Manavjeet Singh,
Founder & CEO Rubique
We feel the budget is well rounded, covering important cores of the Indian economy, including SMEs, Rural India, Digitalization and the common, middle class citizens of India.
The budget does include certain good news for the startups. The increased period for profit linked deduction for three years out of 7 years as against five years is welcome, as start-ups are not expected to make profits for the first few years. The need was for a 10-year period, but extension to 7 years is nevertheless welcome. The exemption from MAT has however, not been allowed, and an enhanced carry over period will not really help start ups from a cash flow perspective.
National housing bank will refinance loans worth Rs 20,000 cr. This is expected to increase Balance transfers especially in affordable housing segment due to strong focus on PMAY.
This will also give in impetus to housing sector overall. Double lending target of banks to Rs 2.44 lakh crore. This is primarily to bridge the existing lending gap & we see more capital available for customers especially for MSMEs."
Pankaj Anand,
CEO, Jivi Mobiles
We were hoping to get some relaxation in taxes for low end smart phones in lieu of promoting smart devises to the masses which would have enabled them for digital banking and also some packages to support mobile manufacturing in India, on the contrary increase in duty on PCB will certainly increase the prices of mobile phones.
Sanjay Jalona,
MD & CEO, L&T Infotech
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