Budget 2015-16: What do industry leaders say?


“Budget is investment friendly and removes all doubts on tax issues. It assures investors that we have a stable, predictable and fair tax system. Atal Innovation Mission and SETU underline our commitment to enable innovation, entrepreneurship and start-ups to grow and shine in India.”

– Narendra Modi, Prime Minister



“The resolve to support the health sector in a big way has been shown by the outlay for health in the Budget of Rs. 33,150 crore. Moreover, announcement of five AIIMS in Jammu & Kashmir, Himachal Pradesh, Punjab, Assam and Tamil Nadu and AIIMS-like institute in Bihar will provide a quantum jump in healthcare in these states and the neighbouring areas.”

– J P Nadda, Union Minister for health & Family Welfare

“Government has also made efforts to move towards a more simplified tax structure by announcing a plan to rationalise direct tax regime for corporates involving both a reduction in the corporate tax rate from 30 per cent to 25 per cent over the next four years as well as elimination of exemptions. This should help align our corporate tax structure in line with that of our ASEAN neighbours. We have also noted the withdrawal of the wealth tax where yields were not commensurate with the administrative costs.”
– Dr Jyotsna Suri, President, Federation of Indian Chambers of Commerce and Industry (FICCI)

“The income tax exemption limit should have been increased, to boost disposable income in the hands of consumers especially salaried class.” 
– Rana Kapoor, President, Associated Chambers of Commerce and Industry of India (ASSOCHAM)

“The reduction in Corporate Tax is a positive and will help make India Inc more competitive. It is also heartening to see that the new government has stressed on the need to make borrowers more accountable and the intent to introduce a Bankruptcy Law is a good step.”
– Sunil Duggal, Chief Executive Officer, Dabur India






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