1. Union Budget 2017: Ajith Mohan Karimpana rated Budget 6.5 on a scale of 10

Union Budget 2017: Ajith Mohan Karimpana rated Budget 6.5 on a scale of 10

Union Budget 2017: "However, given the strong emotions that the Demonetization exercise evoked from the country at large and impending implementation of GST, the government refrained from bringing in any pathbreaking changes on direct taxes."- Ajith Mohan Karimpana

By: | New Delhi | Published: February 1, 2017 6:20 PM
Union budget 2017, union budget, budget, general budget 2017, general budget, educational sector, finance minister arun jaitley, finance minister, arun jaitley, FM jailey, Budget 2017, Prime minister narendra modi, narendra modi, prime minister, pm modi, pm narendra modi, pm, reaction, budget reaction Ajith Mohan Karimpana, CEO and Founder of Furlenco.

Finance Minister Arun Jaitley earlier tabled the Union Budget 2017 on February 1in front of both the houses of Parliament. This year the Union Budget included both General and Railway Budget and it received mixed reactions from different people of the industry. Ajith Mohan Karimpana, CEO and Founder of Furlenco said, “This budget is a continuation on the path towards improving tax administration & compliance and increased emphasis on digital transactions; Similarly the attempt to clean up political funding is also commendable.”

Talking about the demonetisation move of the government he said, “However, given the strong emotions that the Demonetization exercise evoked from the country at large and impending implementation of GST, the government refrained from bringing in any pathbreaking changes on direct taxes. Most of the proposals of personal and corporate tax have marginal impact for the tax payers.”

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He also said, “Specifically coming to the extension of tax break for startups to 7 years, this change was definitely required as there are very few startups that actually generate profits in first 5 years of their existence; reduction in corporate tax rate for entities with turnover less than Rs.50 Cr may not be of much use for new age startups that take 5-7 years and much larger turnover base to turn profitable. Overall on a scale of 10 we would rate the budget 6.5.”

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