Budget Reactions From Hyderabad Inc For 2015

BENGALURU: According to the Chairman & Managing Director, Celkon Mobiles, “Overall it was a strong and structural budget with clear roadmaps to achieve the target of more than 8pct economic growth and reduce the fiscal deficit to 3percent in the next 3 years. Government has shown its intent to create a business friendly environment and boost the ’Make in India’ initiative. The thought process of merging the Skill India initiative with Make in India is the right approach as skill development and manufacturing complement each other in the long run. The focus of the budget has been more towards boosting infrastructure, agriculture, healthcare and manufacturing and hits the right chords. Bringing the middle class under a unified pension scheme to prevent India from being a pension less society is commendable. Boosting the business environment by easing the regulations will be an impactful decision. 

From the industry perspective, reduction of the corporate tax from 30pct to 25pct is appreciated. GST implementation is another welcome move which will end taxation uncertainties in a lot of aspects. High allocation for infrastructure projects such as roadways and railways will give further boost to manufacturing. Reducing the CVD on certain goods in another area the industry is looking forward to, however more clarity is needed in terms of its implementation. Having said that; the budget missed considering the challenges faced by the telecom industry.”

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