Kenny Ye, Managing Director, UCWeb India, Alibaba Mobile Business Group
Finance Minister Arun Jaitley has presented a well-rounded and constructive budget, focusing on most critical aspects of the economy. Thrust on farm sector, increased spending on rural development and infrastructure planning shows that this government means business. The record digitization plan outlined is another major positive. The new digital literacy mission scheme will cover 6 crore additional households and bolster employability of rural youth. There is also the much-needed thrust on entrepreneurship training, higher education and skills development that will help make India a knowledge base. While the reduction in corporate tax is welcome, it is applicable only to select companies and is a minor negative. Measures to reduce tax hassles and address disputes, on the other hand, are a positive. Tax exemption for Start-ups, amendments to Companies Act and allocation for Stand-up India scheme will further aid cost and ease of doing of business in India.
Mr. FarhanPettiwala, President- Enactus India
“We welcome the initiative to setup 1500 multi-skill institute in India, and we welcome initiatives such as allowing retail traders to keep shops open on all seven days of the week. We however do not see any focus on Execution, no Execution agency for Governance, especially with funds of the magnitude of INR 1700 croresbeing provided in the union budget for PradhanMantri Kaushal Vikas Yojna. We also welcome exemption and reduction of duty under Nirmaya scheme for autism & differently abled, this will help students implement Enactus projects in India”.
Mr. Nigel Eastwood, Group CEO- New Call Telecom
“Overall I would view this budget to have a positive push to industries across the board. This budget focuses clearly on growth, development and job creation with particular focus on start-ups by giving them support via exemptions for 3 out of 5 years. With government initiatives like National Digital Literacy Mission for Rural Households and Stand Up India Scheme in place, these will help boost the startup scenario for the SCs, STs women entrepreneurs as it will help reach out to these under-served sectors of the population by facilitating digital technologies for consumers and markets. This is a balanced growth oriented budget with focus on accelerating on the fundamentals".
Dr.Shuchin Bajaj, Founder Director, Cygnus Hospitals
“It is disappointing not to see healthcare in Government’s nine core pillars, quality healthcare is one of the basic necessity for major population of any country and government needs to include the same in their electoral roadmap and prepare robust framework for the same. Though initiative on health promotion scheme is much appreciated and announcement about National Dialysis Scheme is welcome as it has been a benchmark for the willingness of governments around the world to provide healthcare to its populations. Other initiatives to reduce export duty and affordable medicines were long overdue and will provide positive thrust to the sector”.
Mr. Prashant Solomon, Managing Director, Chintels India Ltd. and Hon. Treasurer, CREDAI NCR
'"Union Budget 2016 is comprehensive and well-rounded with some positive initiatives for the real estate sector. 100% deduction for profits to an undertaking from a housing project for flats upto 30 sq. metres in four metro cities and 60 sq. metres in other cities will benefit developers in the low-cost housing space. Deduction for additional interest of Rs. 50,000 per annum for loans up to Rs. 35 lakh for houses under Rs. 50 lakh will encourage low-end buyers to invest in property. Excise duty exemption on Ready Mix Concrete (RMC) will lower the cost for housing construction and, in turn, encourage builders to pass on the benefits to home buyers. Overall, we expected Finance Minister to be more aggressive for the real estate sector during this budget regarding issues like industry status and single window clearance.”
Mr. Anubhav Jain, Director, Silverglades
“While it’s a pro-poor and pro-growth Budget, there have been no major announcements for the real estate sector. Developers were looking forward to credit break and single-window clearance for projects, which the government has failed to announce. On the other hand, additional tax deduction of Rs 50,000 for houses up to Rs 50 lakh and no excise on RMC for self-consumption are positive initiatives to encourage affordable home buyers and developers.”
Dr. RAJ Singh, VICE CHANCELLOR, GD Goenka University
Union Budget 2016 is pragmatic with the right focus on rural development, infrastructure and education. FM Arun Jaitley has announced various measures to provide impetus to quality and access to higher education and skill development in the country. Setting up of 1,500 Multi Skill Training Institutes expands the scope of employment-gene