To consider slum development as part CSR a good move: Jayakumar Krishnaswamy, AkzoNobel India

The Union Budget 2014 presented today by the Finance Minister is positive and presents a course of action that indicates revival of the Indian Economy. The Budget has put emphasis on key sectors such as manufacturing, agriculture, infrastructure, and the financial sector. The manufacturing industry, looks forward to implementation of GST by end of this year. GST will not only raise the overall tax collection but also bring down net taxes on goods and services due to improved compliance.
 
The Finance Minsters’ move to consider slum development as part of a company’s Corporate Social Responsibility will go a long way in urban regeneration.
 
The introduction of VC fund and tax allowance will boost confidence of the manufacturing sector. The Finance Minster’s focus on building healthcare infrastructure and providing clean water and sanitation will augur well with the sentiments of people.
 
We look forward to understanding more about the items that will benefit from the basic custom duties reduction in chemicals.
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Jayakumar Krishnaswamy is the Managing Director of AkzoNobel India