Union Budget 2018: City industrialists express mixed reaction

Budget 2018: Leading industrialists in the city have expressed mixed reaction to the proposals in the union budget presented by Finance Minister Arun Jaitley today. Chairman of Ambuja Neotia group, H Neotia said it was good budget and focussed on the rural sector, health and the MSMEs which was most needed.

Budget 2018: Finance Minister Arun Jaitley presents the Union Budget today
Budget 2018: Chairman of Ambuja Neotia group, H Neotia said it was good budget and focussed on the rural sector, health and the MSMEs which was most needed. (Reuters)

Budget 2018: Leading industrialists in the city have expressed mixed reaction to the proposals in the union budget presented by Finance Minister Arun Jaitley today. Hemant Kanoria, managing director of Srei Infrastructure Finance said that Union Budget 2018 tried to cover all people as the government has announced a series of measures for the health sector as well as some steps for the poor. He said investments has been announced in the road sector and also capital expenditure in the railways.

From the corporate sector perspective Budget 2018 was not exciting, he said. The introduction of long term capital gains tax was disappointing and no PPP projects in the infrastructure sector were not announced.

After Budget 2018 will your income tax go up or down? Find out with this Income Tax calculator

For the salaried class, Budget 2018 was a big disappointment as people were expecting some changes in the income tax rates, but a only a standard deduction of Rs 40,000 was proposed for transport and medical reimbursement.

Watch: Union Budget 2018: Jaitley Recognises MSMEs As ‘Engine Of Growth, Employment’

Chairman of Ambuja Neotia group, H Neotia said it was good budget and focussed on the rural sector, health and the MSMEs which was most needed.

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