Govt is building fire-walls against the global slowdown: Sudhir Shenoy

With the Union budget 2016, the Government of India is building the economy ground-up while building fire-walls against the global slowdown. The budget outlines focus on infrastructure development, creating jobs, rural and social development while continuing adherence to fiscal discipline.
 
This budget puts the security and prosperity of the rural communities at the foundation of nation building, catalysing domestic demand and bridging financial disparity, which has been the missing piece in the India growth puzzle thus far. In times to come, this demand will converge domestic manufacturing, building the economy with a strong foundation.
 
In its current form the budget does not look at the corporate sector in isolation. However, proposal for abolishment of 14 different cesses is a reformative step towards rationalisation of tax structures as has been promised by the government. The industry looks forward to bolder recalibrations and more dynamic pace of reforms.
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Sudhir Shenoy is the CEO of Dow India and co-chair of CII - National Chemical Council