#Budget2016: Post Budget 2016 reaction by Mr. P. Venkatesh, Director – Product Division, Maveric Systems

  • Fiscal consolidation: emphasis on fiscal consolidation and sticking to the fiscal deficit of 3.5% of GDP are welcome; this should therefore encourage the markets.
  • Reform in taxation: the proposed reform in taxation to reduce litigation, certainty of tax and also an affirmation of no retrospective legislation should help foreign investment into India.
  • FDI in food sector: the emphasis on the rural economy, food sector and also the coordinated move to provide FDI at 100% into the food sector clearly shows the wholesome integration of the policies.
  • Improving employment: continued investments in the social sector to improve employment through skill-building and greater emphasis on higher education reinforces a promising future
  • Addressing the trade gap: simplification of procedures and extension of duty drawback benefits to an extended list of sectors in order to promote export growth should aid in closing the current trade gap.

Technuter.com News Service

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