Post Budget Expectations From Mr. P. Venkatesh, Director, Product Division, Maveric Systems
· Fiscal consolidation: emphasis on fiscal consolidation and sticking to the fiscal deficit of 3.5% of GDP are welcome; this should therefore encourage the markets.
· Reform in taxation: the proposed reform in taxation to reduce litigation, certainty of tax and also an affirmation of no retrospective legislation should help foreign investment into India.
· FDI in food sector: the emphasis on the rural economy, food sector and also the coordinated move to provide FDI at 100% into the food sector clearly shows the wholesome integration of the policies.
· Improving employment: continued investments in the social sector to improve employment through skill-building and greater emphasis on higher education reinforces a promising future
· Addressing the trade gap: simplification of procedures and extension of duty drawback benefits to an extended list of sectors in order to promote export growth should aid in closing the current trade gap.