1. The Union Budget is a fiscally prudent budget aimed at fiscal consolidation leading to economic growth

The Union Budget is a fiscally prudent budget aimed at fiscal consolidation leading to economic growth

We also welcome the government’s efforts and commitment to electrification program which mentions that 100% village electrification will be achieved by May 1, 2018, said Rajeev Sharma, Head- Corporate Services Mitsubishi Electric India Pvt. Ltd

By: | New Delhi | Published: February 1, 2017 4:42 PM
Rajeev Sharma, Head- Corporate Services (Financial Express) Rajeev Sharma, Head- Corporate Services (Financial Express)

Rajeev Sharma, Head- Corporate Services & Strategic Planning, Mitsubishi Electric India Pvt. Ltd says, “The Union Budget is a fiscally prudent budget aimed at fiscal consolidation which should lead to a stable economic growth if implemented in a planned manner. Some announcements like a new metro rail policy, abolition of Foreign Investment Promotion Board are forward looking which will provide necessary policy impetus to investor sentiments. Selective reduction of corporate tax rate for companies below Rs 500 million turnover should be a game changer as far as corporate tax inclusion is considered since this will encourage higher compliance at the lower level of the corporate pyramid where percentage of tax leakages is usually much higher. We also welcome the government’s efforts and commitment to electrification program which mentions that 100% village electrification will be achieved by May 1, 2018.”

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