Finance Minister Arun Jaitley has done a creditable job through his announcements in the Union Budget 2016, while increasing the spend and maintaining to the fiscal target, according to Sunil Kant Munjal, joint managing director at Hero MotoCorp.
Overall it seems both comprehensive and he’s doing all of this extra spend, he’s managed to stick to the earlier fiscal deficit target, that’s quite creditable,” Munjal told fe after the Union Budget presentation on Monday.
Finance Minister Jaitley on Monday presented his third Union Budget focussed on increasing the planned expenditure, while at the same time ensuring macro-economic stability, prudent fiscal management, and spurring local demand as the government continues with its economic and policy reforms.
(Budget) focussed on development. Corporate are overall happy with this. Overall at the top end there is an increase in tax ratio,” Munjal said. He further said that the finance minister’s decision to increase the tax on higher income of Rs1 crore and more is aimed to “meet the maths of the additional spend” by the government.