Post-budget 2018 Reaction Mr. Vinu Cheriyan, CFO & Director Operations at Sennheiser Electronics India Pvt Ltd.

The Finance Minister today laid out a powerful report card by referring to the commitments made by him with regard to nine key focus sectors. This Union Budget 2018 offers a decent balance of thrust to all the core areas and fiscal prudence. The Budget surely was intended to bring in a lot of optimism and I think the government has clearly defined its intention to revive the rural economy with their spending allocated to the segment, including the skill based education, healthcare, housing and infrastructure development which will generate income in the rural areas.

The reduction of corporate tax to 25% for the companies below 250 crores, will certainly bring ease of doing business in the economy. The allocation of INR 3073 crore was much expected after government’s emphasis on demonetization towards making India a digital economy. The allocation of over INR 10,000 crores for building Wifi Hotspots for the rural India, is surely a welcome move and will further strengthen the Digital India vision of the government.  2017 was significant for the telecom sector as India skipped from 2G to 4G with all the telecom players focusing on 4G.  The focus on creation and augmentation of telecom infrastructure in 2018-19 and efforts of government towards 5G is really applaudable.  The focus on manufacturing and the impetus given to skill development were much needed for job creation.

This budget has been a great initiative keeping in mind the various obstacles in the growth of our economy. We wish our Finance Minister a great luck for the successful implementation of Budget 2018. News Service

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