Pune, July 6: Announcing a slew of measures in her maiden Budget 2019-20 speech, the Finance Minister Nirmala Sitharaman in the parliament yesterday said that the government would launch an inter-opearable ATM-like One Nation One Card for pan-India travel, new rental laws for affordable housing, interest subvention scheme for MSMEs and women.
With a special focus laid down over the rural upliftment, the financial slates made no changes to the personal income tax rates of the individuals, however disturbing the life style modules of the corporates and the rich class
Here are some of the valid and significant voices slating the positive and negative aspects of the Union Budget presented, supporting the reform, perform and transform policy
Deepak Parekh, Chairman, HDFC:
The Budget has extended an additional deduction to home buyers in the affordable housing. The move to allow additional deduction of up to Rs 1.5 lakh for interest paid is an excellent one and will benefit those who avail loan for purchase of affordable houses upto March 31, 2020.
Rithesh Agarwal, Founder, Oyo Hotels & Homes :
The Budget presents a strong roadmap for India’s vision of becoming a 5 trillion dollar economy by 2024-25, which is challenging but achievable. Finance Minister’s recognition of start-ups as job creators is heartening.
Siddharth S, Tax Consultant, JSK & Firms, Pune :
First of all the ‘bahi khata’ in red silk cloth with national emblem on it, broke the shackles of western slavery! The budget this time laid out outstanding proposals for new India with Aasha, Vishwas and Akanksha. Proposals to strengthen the economic growth by keeping eye on commoners is worth lauding!
CA Sanket Gilda, S. G and Associates :
Budget 2019 provides us with the chance to review India's progress and to chart out collective plans for future. It reflects PM Modi’s vision for India's development.
Along with the boost given to the Indian enterprises, the middle class society gets the due for their hard work.
Zarin Daruwala, CEO, Stanchart India :
The steps to shore up the financial sector via PSU bank recapitalisation, partial credit support to financially sound NBFCs and change in regulator for HFCs are key positives. The budget would help boost the medium-term growth potential.
CA Piyush Mundada, PwC, Pune :
Driving inclusion, infusing new momentum into the economy and a clear commitment to maintain long-term fiscal balance appeared to be the overriding theme of the Modi 2.0 budget. Keeping the fiscal deficit target at 3.3% is definitely notable.
Mukundraj Kulkarni, Tax Consultant, JSK & Firms, Pune :
The Union Budget 2019-20 speaks of medium to long-term vision of the Government which is good for the country; however, these need to be backed by commensurate budgetary allocations.
Uday Kotak, MD & CEO, Kotak Mahindra Bank :
Bringing housing finance companies under the RBI is a positive move. Bringing down the tax rate to 25 per cent for corporates with turnover of up to Rs 400 crores, will enthuse many SMEs to work with a greater sense of incentive and performance.
Dr Saloni Borkar, Jidnyasa, Mumbai :
The Budget is the blueprint of for future growth, a plan to address the current challenges and stays conservative with the fiscal and revenue estimates. There is also a push in key areas and this should start translating into higher growth.
CFA Samruddhi Agrawal, Ernst & Young, Pune :
Budget 2019 was quite waking, as it stressed on several policies to combat climate change, talked about women empowerment and gave a much needed boost to start-ups. It equally focused on the rural development, taking the nation to a new height.