| How did you react to the Budget?
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| It is actually from three perspectives — the long term sustenance of growth for the country’s economy; from an India Inc perspective: the CIT, FBT, service tax...; and, of course, from an individual one of income tax slabs and capital gains.
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| Have your expectations been met?
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| Not entirely. It is a restrained budget. I am disappointed by the lack of a clear roadmap on infrastructure.
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| What does it mean for you professionally?
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| The service tax on rentals of commercial property for which, in metros, we are already paying through our noses is going to have repercussions on our bottom lines.
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| And what does the Budget mean to you on a personal level?
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| Of course, I will enjoy the cheaper shoes, biscuits and it can give you some joy yes...but the increased 1 per cent cess, the fact that as an investor the AMCs coming in the service tax net, is not looking so attractive as an option. Life saving drugs not getting cheaper does not give one a euphoric feel.
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| Prasoon Joshi Chairman McCann Errickson |
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