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Growth-oriented budget with strong boost for rural economy: Rajiv Kr Vij

In my understanding, this is a growth-oriented budget with significant investments into the rural economy, which continues to be in distress. This boost, including the support to MNREGA, will help boost demand from rural sector, which is very critical for India's growth.

Rajiv Kr Vij        Last Updated: February 29, 2016  | 18:10 IST
Rajiv Kr Vij, Managing Director & CEO, Carzonrent India Pvt.Ltd.

In my understanding, this is a growth-oriented budget with significant investments into the rural economy, which continues to be in distress. This boost, including the support to MNREGA, will help boost demand from rural sector, which is very critical for India's growth.

Investments into roads and infrastructure will result in boost to cement, steel, infrastructure sectors and generate employment opportunities besides boosting trade and adding to GDP.

The concessions and incentives to MSMEs and Start-Up sectors will help boost economy and generate employment.

The measures to reduce the discretionary powers of tax officers and move towards settlement of tax disputes is a very welcome step as this will help in reducing court cases and also reduce corruption.

The gradual changes in terms of simplification of corporate tax will also help the sector.

The higher tax rate on automobile could have been avoided to allow the automotive industry to grow as it contributes significantly to economic growth and has been seeing muted growth.

 

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