Some good, some disappointments
Satish R. Mehta
March 2, 2016
- Glad that fiscal deficit is being targeted at 3.5 per cent for FY 2016/17. This is a good signal to foreign investors that financial discipline will be maintained.
- Good to learn that the agriculture sector has been given importance this time.
- Disappointed with the proposal for Dividend Distribution Tax @ 10 per cent at the hands of the recipient for dividend income in excess of Rs 10 lakh per annum.
- Progressive withdrawal of weighted deduction given for R&D expenditure will not be in the interest of the Indian pharmaceutical industry, since it may discourage innovation.
- Happy with the initiative planned by the government to open 3,000 Jan Aushadhi stores and provide health insurance of upto Rs 1,00,000 per family in rural areas.
Satish R. Mehta is MD and CEO, Emcure Pharmaceuticals