India Inc considers that the budget is a factor that causes growth

NEW DELHI: India Inc described the Budget on Saturday as a growth stimulator and inducer of well-being, but said the urgent implementation of the proposed measures will be crucial to achieve the desired results, although he acknowledged that the finance minister had little room to maneuver.

Shortly after Sitharaman revealed the Union Budget for 2020-21 in Parliament interwoven around the themes of aspirational India and economic development for all and solidarity society, India Inc turned to Twitter to share opinions on the announcements.

The finance minister proposed new slabs and reduced the tax rates to obtain an individual income of up to Rs 15 lakh per year, if a taxpayer opts for the previous exemptions and deductions.

He also proposed to eliminate the tax on the distribution of dividends to companies, and from now on the tax will be transferred to the recipients at the applicable rate.

Live plus In the midst of global turbulence and nations facing forest fires and crown viruses, FM Sitharaman has tried to develop a long-term granular strategy to focus on vital issues. The nation was asking kuch 'caro na', however, it had little room to maneuver. ! (sic), the president of RPG Enterprises tweeted.



FM promises to end the fiscal harassment of India Inc., the companies they correct act to decriminalize many breaches. A very necessary message to instill confidence, tweeted Biocon CMD.



The president of PHDCCI, DK Aggarwal, said that the focus on economic development is the need to rejuvenate the country's growth momentum.

The right areas of thrust for manufacturing: being part of GVC, attracting investments in electronics, focusing on quality and facilitating export. The urgent implementation will be the key, tweeted the Managing Director of Mahindra&mahindra.



#budget2019correctareasofthrustformanufacturing:beingpartofgvc,attractinginvestmentsinelectronics,focusingon...https://t.co/j16vfxrhgh-pawankgoenka(@goenkapk)1580541130000

"Budget has put plus disposable income in the hands of the common man by the rationalisation of the personal income tax slabs. Secondly, the removal of the dividend distribution tax is a welcome move and has great benefit for all those mutual fund investors who rely on dividend income from their mutual fund investments," Mahindra Mutual Fund MD & CEO Ashutosh Bishnoi said.

La directora ejecutiva de Olectra Greentech Limited, Naga Satyam, dijo que la asignación de Rs 4.400 millones de rupias para promover el aire limpio en las ciudades con plus de 1 millón de habitantes y los pasos para cerrar las centrales térmicas que superan los límites de emisión permisibles, reafirma el compromiso del gobierno para frenar la contaminación.

The sector-specific allocations and reforms in direct taxes will keep industry and new businesses firmly in their economic activities. The budget includes the creation of a solidarity society, greater trust in citizens and transparency in the administration, which is a sign of a mature economy, said Suraj Malik Partner, BDO India LLP.

"DDT removal is good as it increases dividends received in the hands of the taxpayer - however, such receipts to now are taxable in their hands. Those above 20 per cent tax slab - will now face plus tax on their dividend income," Archit Gupta, Founder, and CEO, ClearTax said.

comments