2,706 BSE-listed companies to gain from cut in corporate tax rate Over 2,700 companies listed on the Bombay Stock Exchange (BSE) are likely to gain from the proposed cut in corporate tax rate to 25% proposed by Budget 2018 from the existing 30%
Here are some reactions on Budget 2018 from industry-experts
Arvind Bali, CEO, Videocon Wallcam
The budget has a clear push towards socio-economic growth of the country with aggressive focus on agriculture, education, rural economy, healthcare and infrastructure. The allocations aimed towards rural India will increase consumption which boost industries and help in nation building. Focus on digital solution and new age technologies is a big push in terms of creating the right environment for the next level of development in India. The increase in customs duty will further boost 'Make in India'.
"Disappointing budget from the perspective of private sector involvement in creating mass housing stock that will make homeownership a reality for all Indians. Budget has unfortunately ignored the stressed and vilified real estate sector that is in desperate need of Government support through specific targeted tax breaks that help make building affordable homes in India viable." - Sarjan Shah, MD, Group Satellite.
Pacific India Group
"The budget this year is a boost to 'Make in India' initiatives and aimed at a progressive development of the rural economy and growth of the entire country. The focus on infrastructure, social inclusion and progress, education, agriculture and healthcare are steps in the right direction. Though there is not much in terms of addressing the problems faced by the realty sector but the move towards no adjustment in case of the circle rate not exceeding 5 % of sale consideration is a welcome move. Standard deduction for transport, medical reimbursement for salaried taxpayers and incentives for Senior citizens will help increase disposable income at hand." -Abhishek Bansal, Executive Director of Pacific India Group.