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This is an election Budget, targeting the forthcoming state and central elections. The focus has been more on agriculture and infrastructure, issues that will matter to the electorate next year. The allocation of funds for connecting major highways and agricultural markets to the National Highways Authority of India and other agencies is a positive move.
The Railway Budget announcements are also a positive move, the double line track for Mumbai rail and allocation for the Bengaluru Metro. This, however, should reach the implementation stage and not remain on paper only. Incentives for localisation of electronic goods with duty change should encourage more investment in India.
MS Unnikrishnan, Managing Director & CEO, Thermax
The change in income tax slab for micro, small and medium enterprises (MSMEs) is a bold move. Unless one allows MSME to retain some cash flow, real job creation will not happen.
It is certainly an election-oriented Budget but there is nothing that will harm industry.
Though there are no direct positives for industry, the rural measures will ensure more money for the rural population that will in turn create indirect demand for manufactured goods.
Fixed-term employment being extended to the entire industry is a positive for the capital goods sector.