“The approach of the Finance Minister is one of “quantum jump” rather than tinkering, which would accelerate the development process and put the Indian economy on a sustainable growth trajectory, while further expediting the “make in India” programme.
According to Mr. Sanjiv Goenka, “The Budget this year has many far-reaching features. For instance, the corporate tax rate cut and abolition of wealth tax, as also monetization of gold. Another highly encouraging feature is the corporate tax rate cut to be down to 25% over a period of four years – this is the rate that prevails in most Asian countries, including China.”
According to Mr. Goenka, “Shri Jaitley’s focus on roads, airports and power is going to be highly beneficial. Directionally, the Budget has ushered in a fiscally-predictable tax regime. No Budget in recent times has so courageously tackled so many burning issues – Indian business could not have asked for better.”