Page 9 - Union Budget 2016

Budget reads the riot act to PSBs: Saurabh Mukherjea

No revision of the 2017 recap plan suggests muted credit growth expectations (9-10 per cent) on the government's part for the banking system

Big push for stalled irrigation projects to counter poor rains

Most of the allocation would be spent on completion of existing irrigation schemes and their results would only be felt after a gap

FM chants rural mantra 25 times, puts money where mouth is

Increase in allocation for MGNREGS, LPG expansion, electrification & smart panchayats

There are upsides for steel: TV Narendran

Union Finance Minister, Arun Jaitley, has tried to do a balancing act between fiscal consolidation and growth in the midst of global headwinds.The Budget focuses on policy and taxation reforms, and reflects the government's commitment to improving the ease of doing business in India. The emphasis on tax reforms and dispute resolution schemes should go a long way in creating a facilitating environment for conducting business in India.We are the world's third largest producer of crude steel (up from eighth in 2003) and the world's third largest consumer of finished steel. This sector should get a big boost from the proposed spending in infrastructure; the Budget proposals will help the industry reach its full potential.However, doubling of the clean energy cess from Rs 200 to Rs 400 a tonne would increase input costs for domestic producers. We are hopeful the government will focus on the goods and services tax (GST) Bill and include the suggestions made by the Central Electricity Authori

My Budget: Sorabh Pant

What is the best thing about the Budget?It is pro-farmer and pro-poor. Beedis are cheaper - that's hardcore implementation of Make in India.The worst?The Budget was called "unimaginative". So, do people want tax rebates for dragons? The worst part is how everyone becomes a financial expert.Will it lead to acchhe din for the common man?Driving a car, drinking and smoking will cost more. So, next time Salman Khan does all that in one night, it may cost him dear.Will BJP gain politically from the Budget? This one should get BJP more votes at assembly elections.If you were finance minister, what would you change?I'd remove all taxes and subsidies, and implement all our country's projects by borrowing a few bucks from Robert Vadra.Sorabh Pantstand-up comedian, founder of East India Comedy

Budget 2016: Government eases norms for Asset Reconstruction Companies

Jaitley has proposed to amend Sarfaesi Act, 2002 to allow sponsors to hold 100% equity stake in the ARCs

Laveesh Bhandari: Budget 2016-17 - Third Time Lucky

Arun Jaitley's third budget is very different from the previous two and also in a different class from any since May 2014

Advantage farm sector: Kunal Bose

The process of demystifying the Budget began some years ago, when the government would introduce new duties or revise rates whenever the need arose. Take steel. Delhi first announced a 20 per cent safeguard duty on hot-rolled coil in mid-September and then, much to the industry's relief, introduced in February minimum import prices of $341 and $752 a tonne on 173 products.Why should the government wait for the Budget when the debilitating impact of import surges on domestic steel makers was already in evidence? The US administration's response to steel imports from China and Russia, with dollops of subsidy proving hurtful to local industry, is found to be much faster and effective than of either India or the European Union.Finance Minister Arun Jaitley has only partly met the aluminium industry's demand by raising the import duty on primary metal to 7.5 per cent from five per cent. The industry was hoping for a uniform import duty of 10 per cent on primary aluminium and scrap, which wi

My Budget: Laila Tyabji

What is the best thing about the Budget?Finally, some attempt to look at rural poverty, rather than wooing the urban middle-class and corporate sector.The worst?The craft and handloom sector has been ignored. But investment here would alleviate agricultural distress.Will it lead to acchhe din for the common man?There is anxiety at the state of the economy. It remains to be seen whether the Budget can lead to real change for the aam aadmi.Will BJP gain politically from the Budget?It all depends on how quickly people see results. They have lost their faith in catchy slogans.If you were finance minister, what would you change?The Chinese have declared crafts as one of their major sectors of investment. India, too, must go beyond sops and subsidies.Laila TyabjiChairperson, Dastkar

It is a Budget for employment: Soumya Kanti Ghosh

Overall, this Budget has a clear agenda of reforming the agricultural sector through measures that could enhance productivity

A mixed bag at best: Madan Sabnavis

The approach to bank restructuring has been quite ambiguous though

Major push for financial reforms: Rashesh Shah

Says FM has provided much-needed tax incentives for new manufacturing companies and reforms for start-ups

A fine balancing act: Vishal Kampani

Says the FM has sent strong signals to global investors and rating agencies about the govt's commitment to adhering to its earlier decisions

Leaves a lot to be desired: Hemant Kanoria

This is the first Budget in decades that has rightly given an implementation-based thrust to agriculture and rural segments. However, I am not enthused with the announcements on infrastructure. The proposals to introduce a Bill on dispute resolution, to form new guidelines for re-negotiation of public private partnership concession agreements and to have a new credit-rating system for infrastructure projects are steps in the right direction, but an immediate time-frame for implementation should have been articulated. The additional dividend distribution tax, trebling of securities transaction tax for options, the introduction of new cesses in certain categories are unlikely to go down well with industry. Determination of residency of foreign company on the basis of place of effective management stands deferred by one year, while general anti-avoidance rules are to be made effective from FY18. These steps might not send out the right signals to international investors. Allowing non-bank

Indirect boost for consumer goods: Harsh Mariwala

Overall, the Budget is positive. Among the big standouts for me is the finance minister's announcement that he will stick to the government's existing fiscal deficit target of 3.9 per cent of gross domestic products for 2016-17.It speaks of fiscal discipline on the part of the government, which is a welcome move.The other highlight is the big push for the agriculture and road sectors. A realisation that the rural economy has suffered in the past two years because of a deficit monsoon is noteworthy. Also, infrastructure development is being seen as critical to improving economic growth.The measures announced to boost growth in the agriculture and infrastructure sectors will impact all companies operating in this space, including consumer goods. Yes, the finance minister was silent on the goods and services tax.There were expectations that he would say something on the issue or announce a clear road map pertaining to its roll-out. However, given that much has already been said about good

My Budget: Richa Chadda

What is the best thing about the Budget?On the positive side, I hope that the "pro-rural-agrarian" Budget can put an end to farmers' suicides all across the country. We can't eat cash, we need our farmers to be happy.The worst?It' a sad day when the Budget is overshadowed by Leonardo DiCaprio's speech at the Oscars. I had switched off when the service tax became 14 per cent.Will it lead to acchhe din for the common man?We Indians pay so much tax for such poor infrastructure.Will BJP gain politically from the Budget?No comment.If you were finance minister, what would you change?No comment.

Shubhashis Gangopadhyay: Budget 2016 - Subsidising crop insurance premium not the best idea

While the objective is commendable, the solution being proposed is not sustainable in the long-run since it will encourage risk-taking with MSP crops

The bets are on 'Bharat': Shankar Raman

Budget has laid emphasis on enhancing expenditure in farm & rural, and social sector including healthcare, education, skill development, job creation and infrastructure

Abheek Barua: Ticking all the right boxes

On the expenditure side, at least, Mr Jaitley seems to have ticked the right boxes with a continuing thrust on infrastructure, particularly roads

Budget 2016: CMs' views

NITISH KUMARBiharIt's very difficult for me to even rank this Budget. The finance minister had been talking about development of agriculture and rural economy, but nothing concrete can be seen in this Budget. It's been almost two years and they are yet to implement their promise of increasing Minimum Support PriceSIDDARAMAIAHKarnatakaThe Union Budget is disappointing and average. More funds could have been allocated to the agricultural community as the government reaped the benefits of low crude oil prices. the Centre has raised the burden of states because of the contribution in centrally sponsored schemes. This year, the burden has increased Rs 1,987 crSHIVRAJ SINGH CHOUHANMadhya PradeshThis is a pro-poor Budget dedicated to farmers, especially supportive to Madhya Pradesh, given its largely agrarian economy. The finance minister has made sufficient budgetary provision under Mahatma Gandhi National Rural Employment Gurantee Scheme and has taken steps to boost irrigationJ JAYALALITHAA