On the taxation front, I don’t see any big increase in anyone’s pay packet. On the contrary, those earning above Rs 50 lakh will pay an additional 10% surcharge. In a nutshell, the budget proposals have been a continuation of the policies that the government has followed over the years – i.e. spend on infrastructure and housing.
The abolition of Foreign Investment Promotion Board (FIPB) is a welcome step and this signals that India is more open to the outside world. The transparency is political funding is another welcome move. As far as I am concerned, there are no negatives in the budget proposals.
Clarification on offshore taxation proposals is a welcome step and the foreign investors are likely to see this as positive development. Most FIIs, in my view, will see the proposals as a continuation of the existing policies of the government – and that is a positive. The markets and investors are enjoying that there are no negatives in this budget.
(As told to Puneet Wadhwa)
The author is CEO, Avendus Capital Alternate Strategies
Disclaimer: The opinion expressed in this article is the personal opinion of the author. The facts and opinions appearing here do not reflect the views of Business Standard and the publication does not assume any responsibility or liability for the same.
 "Andrew Holland")
