MUMBAI:
The budget is very comprehensive and proposals are well thought through which will provides fiscal support for investment & consumption while also providing a 5 year roadmap to come back to prudent norms, says Subhrakant Panda, Vice President, FICCI & Managing Director, IMFA.
Higher outlays for various sectors augurs well, as does the fact that the quality of expenditure is improving with more thrust on capital expenditure. Setting up of a DFI to fund long gestation projects, and an asset reconstruction cum asset management company to deal with stressed assets are welcome steps. Limiting reopening of assessments and providing for a faceless ITAT will encourage the honest taxpayer. Similarly, several regulations and laws subsiding into a single securities code is a very positive step. Finally, no major changes in the tax structure is a major commitment to provide stability.
