This year’s Union Budget 2015-16 is focused on various growth and development initiatives for the county and steps taken will certainly keep the business sentiments positive. The FM thorough his budget speech laid emphasis and importance on GST, which was encouraging. We welcome the announcement on time-bound implementation of a state-of-the-art Indirect tax system and GST by April 2016 as it will play a crucial role to the continued success of digital commerce in India.
The budget has given a major boost to infrastructure development allocation for Roads and Railways sector by building an additional 1 lakh kilometre roadways network. This will enhance logistical outreach and strengthen delivery capabilities by allowing faster movement of goods. Consumer-friendly measures like incentivising credit and debit card transactions will augment receptivity to online transactions, thereby benefiting the industry. The government’s intention to nurture sectorial growth is showcased positively through both the emphasis on a liberal system to raise global capital and creating a single clearance window for ease of doing business.
Under the Make in India initiative, the allocation of INR 1000 Crore to encourage start-up incubation and enterprise will further augment growth and sustainability, thereby, leading to employability and economic growth. Also, with positive initiates like cut in corporate tax from next year, emphasis on Skill India, we are optimistic on the implementation roadmap of the budgetary announcements.