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Dun & Bradstreet, India

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Request you to find below the budget quote by Mr. Kaushal Sampat, President & Managing Director – India, Dun & Bradstreet.

“The budget is directionally very positive, with a long term vision to spur inclusive growth. The most important aspect of this Budget is its predictability, which is likely to boost investor confidence on the India economy.  Thrust to infrastructure, measures to revive the investment cycle, focus on ease of doing business and boosting entrepreneurship would be the four key takeaways from the Budget. The corporate tax concessions, tax simplification, deferral of the GAAR, tax overhaul to allow REIT listing, Gold Monetisation Scheme, creation of a unified national agriculture market are some of the positive measures that would stimulate the flow of investments, which in the long run would also help boost consumption. The proposal to unveil a Bankruptcy Code deserves particular mention as it would go a long way in improving the ease of doing business. The focus on universal social security system, health insurance and the support provided for start-ups reiterate that the priorities are in the right place.”

Request you to find below the inputs by Dr. Arun Singh, Senior Economist, Dun & Bradstreet, India.

“The 2nd budget of the NDA government was pragmatic, directional and focused. The budget was well balanced for the social sector and the corporate sector. Postponing the achievement of 3.0% fiscal deficit target to make space for more public investment is admirable as India is still on its recovery phase. Moreover, the budget is laudable on many fronts. The comprehensive universal social security system – from Jan-Dhan to Jan-Suraksha, monetisation of Gold, plug and play model for infrastructure projects, curbs placed on the flow of black money, introducing bankruptcy code from FY16 and stated time for implementation of GST will help in installing business and investor confidence. The government’s focus on ease of doing business and boosting entrepreneurship instills hope for a stronger revival of the industrial sector. With more devolution to the states, India’s growth story in the coming years will be clearly rewritten by the states. The areas of discomfort in the budget are the shift from the direct tax bucket to an indirect tax bucket which might impede the tax buoyancy of the government to meet the fiscal deficit, the comparative low focus on agriculture and lack of reference to food and fertiliser subsidy.”

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