Post Budget Expectations From Mr. Rakesh Mistry, CFO, Sophos Technologies Pvt. Ltd.
“Overall, this budget appears to have a balanced approach. Given present economic conditions, it was a tight rope to walk upon and looking at global scenario, coupled with limited resources at disposal, it turns out that this budget can be considered good for Indian economy. As for measures envisioned in the budget, effective execution will hold key.
While it’s difficult to share a comment that can cover such elaborate area, we would like to share some thoughts while reflecting upon some sector specific analysis. There are several good aspects that look promising, and includes confidence in fiscal deficit, with no deviation seen in the projected numbers; then we also observe welcome measures taken to simplify and rationalize trade and business environments. From macroeconomic perspective, steps taken to strengthen inclusive growth, especially by ensuring greater allocation in areas like rural economic development, agriculture and allied social sectors certainly augur well. Government has also ensured adequate focus on education, skill development and infrastructure development. As for taxes and other financial measures, no change in service tax and omission of new long term capital gain for listed securities remain good decisions. Also introduction of tax incentives to start-ups, manufacturing and small businesses comes to offer required fillip. And lastly, among things where budget fell short of expectations includes introduction of dividend tax, increase in STT, status quo in recapitalization fund allocation to PSU banks etc. These are areas where FM could have done better.
To summarize, while the budget misses big announcements, it broadly manages to stay in alignment with immediate economic priorities.”
