Budget 2018 Reactions: I Would Say It Is An Investment, Economy And People Positive Budget
"The budget wants to take the economy to an 8 per cent growth path, I think the Government will achieve it," says Anil Kumar Chopra- Chartered Accountant (Managing Partner), Dewan P.N. Chopra & CO, Chairman Direct Tax Committee, PHD Chamber of Commerce and Industry
On a scale of 1 to 10, how would you rate the Union Budget?
I rate this budget at 8. Also, there will always be some tax or announcements which we want to be there in the budget but the same has not been announced by the Government, but, the funds have to come from somewhere. Hence, I would say that this is a very good budget because the Government has supported the priority sectors and the thrust has been given at the right places.
Do you feel this is an election/populist budget or a developmental budget considering the elections next year?
I believe this budget is development based and is a good budget as it covers all the priority sectors, like rural India, agriculture, infrastructure, MSME, education, health and senior citizens. Once the economy is given a boost by all the layouts announced in the budget by the Government to give a thrust to all those in agriculture and lower income group, it will generate more business and funds in the economy.
Has the Government addressed the job/employment issue adequately in this Budget?
I would say this issue has been well-addressed in the budget. There are a lot of points which are employment positive such as changes in the EPF contributions of women employees, changes under section 80-JJAA of the Income-tax Act and the allocation of Rs. 85, 010 crore for the education sector etc are all hugely positive and will leave people with abilities to have more knowledge and get better jobs. Also, the reduction of corporate tax to 25 per cent to benefit MSMEs who have investible surpluses or the thrust given to the economy by giving a fillip to the infrastructure sector are all good steps which will create jobs in the economy.
Is the farm distress/agri crisis addressed well in this Budget?
It has been well-addressed, the announcement of fixing the minimum support price (MSP) at 50% over costs is very encouraging and positive.
Summarize the Union Budget in a few lines.
The budget wants to take the economy to an 8 per cent growth path, I think the Government will achieve it. Also, it wants to do more for those who need it more, whether it is rural India, agriculture, lower income groups, it wants to provide education, it wants to provide healthcare to those who need it more, I think all these steps are an essential thrust of the Government. Growth, tax rationalization, incentives in the right places and layouts in the right places, that is all the essence of what this budget is.
Three hashtag words/expressions to sum up the budget 2018.
I would say it is an investment, economy and people positive budget.
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