Post-Budget Reaction by Mr. Sameer Bora, EVP Research & Development, Next Education India Pvt. Ltd.
The government has delivered a pragmatic budget. Reducing corporate tax rates will definitely give companies a boost and bring them closer to the Asia average of 21%. However, increase in service tax will still have to be passed on, the only silver lining being more allocation to education. The government’s decision to upgrade 80,000 rural secondary schools will bring education to the last tier, where it’s needed most. Direct bank transfer for skill building is also a very welcome step. Overall, this is a budget that aims at reducing inefficiency and giving good momentum to genuine companies.