It's actually a very decent cautious and more like immediate relief type of budget. Doubt the industry was expecting too much from this budget considering usually the 1st budget is appeasing the vote bank.
The individual tax and PPF reforms surely will benefit the salaried class.
Good move on FDI in defence and insurance.
Still need to elaborate on agri reforms and the 8lac limit.
Cities development fund is welcome . I like the idea of 100 Cr clubs.
Changes in taxation of offshore funds should be a good boast to investors. Though govt played it a bit safe by not reforming the debt fund and increase in long term capital gain rate.
The target of 4.1% fiscal deficit by next year and 3% by 2015-16, is very ambitious , considering the slow economy dynamics the govt has inherited
Uniform KYC reforms should be a good sign for investments.
Now for the major huddle, the retrospective tax, considering the GOI is right now battling giants in international courts , it would have been disastrous to reform then in this budget. I would expect major changes here in budget 2 or 3.
GST reforms by an year , does seem like a good move and should make investors happy.
Good initiatives in real estate investments , infrastructure and manufacturing.
Good to see sanitation and 100% water/power supply on long term programs .
I liked the Railway budget, the elephant needs major cost cutting and privatization of certain features.
It would be silly to expect from any govt to not have it's rhetorical propaganda especially in the very first budget after a political win. Every govt of the world is guilty of this and to some extent it makes sense politically. Personally I don't like the Patel move but I do understand why a govt would go for it. My focus was more on reforms for general public and investors.
Overall it's a realistic budget which does indicate future reforms for investors , also it is more individual focused which means it caters to middle class of India.
BRIC bank move is interesting.
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