MCCIA – Union Budget Reactions
“The Union budget for 2016-17 has a definite orientation towards rural development. The 9 pillars mentioned by the finance Minister including agriculture and infrastructure would definitely balance the economy and ensure balanced growth. A large investment in infrastructure by the Government would push the investment in all segments. The attention paid to affordable housing and certain concessions granted to housing are considered to be good.”
Mr. Satish Magar
President
MCCIA
The Union budget for 2016-17 is as mentioned by the Finance Ministers rests on 9 pillars which are totally oriented towards rural development, agriculture including irrigation, electrification, education, and health care, social development. Industry does not find any place in it directly. The automobile industry which is the mother of all industrial segments and which is reeling under severe demand absence has not received any favorable consideration. A large number of MSME are dependent on this segment so indirectly the budget was not positive for them. Industry may find some solace in the enhanced expenditure on Roads, Railways and other infrastructure which may provide them some avenues for more business. There is nothing which would encourage immediate investment.
Dr. Anant Sardeshmukh
Director General
MCCIA
२०१६-१७ चे अंदाज पत्रक हे पूर्णपणे राजकीय जरी नसले तरी पूर्णपणे सामाजिक ,ग्रामीण नक्कीच म्हणता येईल. ग्राम विकास, सामाजिक विकास, कृषी, इत्यादी क्षेत्रावर ह्या अर्थ संकल्पाचा जोर निशित आहे. हे जरी चांगले असले तरी उद्योगाकरता हा अर्थ संकल्प फारसा समाधानी नाही. मेकं इन इंडिया, औदिगिक गुंतवणूकिला चालना, उत्पादन मागणी वाढवण्याच्या दृष्टीने ह्या अर्थ संकल्पात विशेष प्रयत्न दिसून येत नाही. रस्ते, रेल्वे व इतर पायाभूय सुविधा ह्या करता एकंदर २,१८००० कोटीची तरतूद अर्थ संकल्पात आहे. सुमारे १०००० किलो मीटर राष्ट्रीय महामार्ग बांधण्याचे उदिष्ट्यसरकारने समोर ठ्वेअले आहे ह्याचा अप्रत्यक्षरित्या उद्योगाला फायदा होऊ शकतो. अन्न प्रक्रिया उद्योगात ,उत्पादनांची विक्री करण्याकरता प्रस्थापित केलेल्या विदेशी कंपन्यांना १०० % गुंतवणुकीस परवानगी ही एक ह्या अर्थ संकल्पातील चांगली गोष्ट आहे.
डॉ. अनंत सरदेशमुख
Three negativities of Indian tax system have been complication, litigation and surprises. The Budget seems to address all these. The proposals for estimated income scheme, weeding out exemptions and deductions will contain complications and provide simplicity. Specific schemes to do away litigation like compromise scheme, concession in penalty will provide relief and reduce tax litigation. The proposals are much on predictable lines. This will gradually remove surprise element and usher in stable tax regime. Salaried ones expecting standard deduction and step up in threshold of med expenses, education fees exemption, etc. will be disappointed. Overall a sensible budget.
Chandrashekhar Chitale,
Chartered Accountant and
Treasurer, MCCIA, Pune
