Tuesday, March 1, 2016

Post Budget Reaction on behalf of Mr. Dinesh Aggarwal, Joint Managing Director, Anchor Electricals Pvt. Ltd.

"The removal of Service tax for less than 60 sq meters house and an additional exemption for housing loans up to Rs.35 lacs will help in catalysis for the housing infrastructure sector that has suffered low demand for over 3 years. The Government's commitment on a stable taxation regime, aggressive outlay for infrastructure growth and skill development will ensure that foreign investors retain and grow their interest in India; as a market and as a manufacturing base.
The lowering of IT rate for small size Companies, Tax holiday and speedy registration for Startups will ensure development of the ancillary ecosystem and encourage Innovation and new technologies & business models. Thus, overall the Budget is in line with Government's thoughts last year and it combines very well a very strong and critical Social objective with the fact that our Country should continue to be seen as a favored destination for investment by ensuring that the macro indicators remain positive, Governance of Financial markets remain strong and the Rural sector is fully included in our economic growth.
The Finance minister has strongly addressed all my stated expectations in the pre-budget quote viz. the ease of creating & doing business, ease of creating IP, ease of running business and providing support to small and medium manufacturers."

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