Budget 2018: This Is What Industry Captains Say Ahead Of FM Jaitley's Speech

Flipkart chairman Sachin Bansal, for instance, expresses optimism about India's economic growth when he shares a news article projecting India as the second-fastest growing economy in the world,

2 Shares
EMAIL
PRINT
COMMENTS
Budget 2018: This Is What Industry Captains Say Ahead Of FM Jaitley's Speech

In run-up to the 2018 Budget, business captains are upbeat about India's economy

On the eve of Union Budget 2018, industry captains, like salary earners nationwide, are looking forward to the Union Finance Minister Arun Jaitley's much awaited speech on the house of Parliament on Thursday. There are expectations galore, from re-introducing the standard deviation for salary earners to tweaking of tax slabs, to doing away of dividend distribution tax (DDT). There are speculations that the tax exemption might be raised from Rs 1.5 lakh to Rs 2 lakh. Whether some or all of these expectations are met is a matter that only time will tell, but the industry captains, by and large, are quite upbeat about the country's economic growth in run up to the budget.

Flipkart chairman Sachin Bansal, for instance, expresses optimism about India's economic growth when he shares a news article projecting India as the second-fastest growing economy in the world, while Kunal Shah, founder of Freecharge, acknowledges the need to do more as India's economy is still far behind China's, despite the fact that the former was leading ahead of the latter until 1986. The industry chambers such as FICCI and CII urge the government to cut the minimum alternate tax (MAT) and make the GST (goods and services) compliance easier for making the economic reform process faster.


 

This Is What India Inc Feels In Run Up To The Budget 2018

 

1. Anand Mahindra: The chairman of Mahindra Group speaks about the prevailing gender inequality in the country, as revealed in the Economic Survey 2018. A flagship annual document of the Finance ministry, Economic Survey reviews the developments in the economy over the previous 12 months, summarizes the economic performance, and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term.

 

2. Kavin Bharti Mittal: The CEO of Hike messenger app and the son of Bharti Enterprises chairman Sunil Bharti Mittal, seems profoundly awestruck by the PM Narendra Modi as he posts a picture apparently clicked by the former during the World Economic Forum (WEF) at Davos, Switzerland last week. He captions Modi's picture saying 'Always so inspiring'. The young entrepreneur also seems optimistic about India's potential to draw investments from across the globe. His post gives positive feelers to the worldwide investors at a world summit.

 

3. Vijay Shekhar Sharma: The founder of One97 Communications that runs cash wallet brand Paytm, is slightly optimistic and wary at the same time. He says that there are eight jobs may remain hot or not in two years depending on the government's regulations or the lack of them. The jobs include crypto hedge fund manager, ICO investor relations.

 

4. Sachin Bansal: The chairman of Flipkart shares an Economist article that places India as second best performing economy with a GDP forecast of 7.7%.

 

5. Kunal Shah: The co-founder of an e-commerce company FreeCharge posts data, via a retweet, that paints a relatively grim picture of India in comparison to China. While India's per capita GDP is $1990 in comparison to China's $9,380, India was slightly ahead of China as early as in 1986.

 

6. Uday Kotak: The executive vice chairman of and managing director of Kotak Mahindra Bank believes that India must make its economy much larger. He tweeted it ahead of PM Modi's address at Davos in Switzerland.

 

7. FICCI (Federation of Indian Chambers of Commerce and Industry): The association of business organisations suggests that the minimum alternative tax (MAT) should be reviewed or reduced.

 

8. Confederation of Indian Industry (CII): The industry chamber urges the government to make corporate sector more competitiveby taking relevant steps in the Budget 2018 such as by easing the GST compliance.


 

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................