Budget 2012 how bussiness sector reacts!!! -
March 28th, 2012
We all generally focus on consumer sector but we as BBA and MBA STUDENTS needs more knowledge and happenings of business .
"I have to be cruel to be kind," said the Finance Minister . Well the aam jaanta definitely does not seem happy with two bit increase in the tax exemption limit and the hike in services taxes that is bound to play havoc with their household budget. Did he then manage to "be kind" India Inc? Here are some Industry reactions.
An honest budget says MD & CEO, ICICI Securities Ltd., Anup Bagchi’s quote on the Budget 2012
“Budget 2012-13 has been an honest budget implicating ground realities with continued focus on fiscal consolidation. The expected fiscal deficit of 5.1% and full rollback of impetus during global crisis of 2008 by hiking the rate of excise and service tax rate will help in achieving it and appears highly achievable.
The budget though also had a modest increase in the allocation to social welfare schemes and provided relief to individuals hiking tax exemption limit (Income till Rs 200000 exempted from Tax). Also, reduction in customs duty for import of coal, LNG and capital equipments along with hiking allocation to road sector has to a certain extent taken care of some of the concerns faced by infra sector.
Initiatives such as the Rajiv Gandhi equity savings scheme, lower STT on delivery, and higher tax free infra bonds will lead to increased participation from retail investors through these benefits,” said Mr Anup Bagchi, MD & CEO, ICICI Securities Ltd.
source yahoo news
so whats youre opinion on bussiness sector budget .