Post Budget Quote - Technology/Education​/Retail

Posted by: at 2/01/2017 04:25:00 am

Kenny Ye, GM-Overseas Business, Alibaba Mobile Business Group


Budget Reaction – UCWeb, Alibaba Mobile Business Group

A BUDGET FOR THE MASSES

Kenny Ye, GM-Overseas Business, Alibaba Mobile Business Group


Union Budget 2017-18 is a big relief for the common masses – from reduction in personal income tax to sops for affordable housing- the Finance Minister has announced various measures to benefit farmers and weaker sections of the society. On the corporate side, abolishing of FIPB is a bold step and further liberalization of FDI policy will cheer foreign investors. While last year’s auctions removed spectrum scarcity in the country, expansion of Bharat Net project will ensure high-speed broadband to 1.5 lk gram panchayats via Wifi. With increasing smartphone penetration and push for high-speed broadband connectivity in rural areas, a massive digital revolution is imminent in India. Lastly, reduction of corporate tax for MSMEs is a welcome step but larger Indian conglomerates looking to compete with global peers will continue to find the tax rate challenging.

Ajay Laddha, Co-Founder, YMS Mobitech Pvt Ltd YMS Mobitech Pvt Ltd


The Union Budget has outlined all the rights steps for the government’s central agenda of Transform, Energise, and Clean India. The lower corporate tax announced will help small businesses become more competitive in the global market while reduction in personal income tax is a step in the right direction to boost the consumption cycle. Increasing number of years from 5 to 7 for tax holiday for startups is also a welcome step. Preempting spate of cashless transactions in the days ahead, announcement of a new payment regulatory board will help in realizing Govt’s dream of a Digital Economy. Also, curb on cash transactions of over 3 lk will help in pushback of the parallel economy.

Mr Akshay Munjal, President BML Munjal University

Mr Akshay Munjal, President BML Munjal University

This year’s budget sees welcome initiatives that will bolster the education industry in India. We welcome the efforts towards providing quality education in STEM across primary and secondary schools in India. The launch of the Swayam platform, the upliftment of 3,479 educationally backward blocks, the setting up of the National Testing Agency and 100 skill centres across India will make quality education accessible and available to the masses and will help empower a generation of future leaders. This will lead to an overall improvement of educational facilities throughout the country, particularly in Tier-2 and Tier-3 cities. Though these are significant steps in the right direction, we would have also welcomed further constructive investment towards R&D infrastructure.


Captain Dharamraj Shukla, CEO, GAA SpeedJet Aviation -SpeedJet Aviation Academy


IT’S A RESPONSIBLE BUDGET

Apart from its agri push and impetus for rural population, Union Budget 2017-18 has announced a slew of measures to leverage India’s huge demographic advantage. With jobs and skill training among top focus areas, the government’s agenda to improve quality education for youth of the country is a step in the right direction. A capital outlay of 2.4 lk crore for the transportation sector along with new airports via PPP model will steer the economy in the right direction.


Mr Abhishek Bansal, Executive Director, Pacific India

Mr Abhishek Bansal, Executive Director, Pacific India


I would like to congratulate the FM for presenting a positive and pro-growth budget this year. The government’s initiatives towards digital payments will benefit retail growth in the long term. Affordable housing has been given a huge impetus with Initiatives like “Housing for all by 2022”, DDT exemption in REIT, increased allocation towards the infrastructure sector including roads and highways and the NHB allocation to affordable Housing Finance Companies. Reduction in time to 2 years for long term capital gains tax benefits will aid the real estate investors as they can book profits by paying a bare minimum income tax at the end of two years only on profits earned from sale of property. This along with other initiatives like impetus towards skill development, Tax regime, jobs creation and will act as a big push towards the government’s make in India and smart city initiatives.



Mr Tomas Pavel, CMO, Home Credit India Pvt. Ltd.                                                      
 Mr Tomas Pavel, CMO, Home Credit India Pvt. Ltd.
                                             

“The Finance Minister presented a carefully detailed plan to improve people’s spending power and also focused on the need of small traders and farmers. It is heartening to note that the Finance Minister has offered the biggest tax break to the lowest salaried bracket giving them more money in hand. The push towards digitalization of payments and formalizing the credit market is a welcome step which will lead to more people coming under the legitimate financial system.”



Mr. P S Choudhary, Head Sales & Marketing, LML Limited


The Finance Minister has announced a prudent Budget with focus on infrastructure, employment and digitization. While reduction in interest rates has already given an impetus to the consumption cycle, lower personal income tax for income up to `5 lk will put more money in the hands of the common man.  Also, airports and air connectivity in smaller towns will further boost economic activities. With measures to stimulate growth, promote the digital economy and provide relief to middle class through affordable housing, this Budget ticks all the right boxes.

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