Mr. Ashish Dhakan, MD & CEO, Prama Hikvision (India) Pvt. Ltd. has hailed the union budget calling it progressive and growth oriented. Mr Dhakan said “The Union Budget 2016-17 unveiled by our honourable Finance Minister, Mr. Arun Jaitley, is a growth -oriented, pragmatic and progressive budget. Move to reduce corporate tax from 30 % to 25 % is a step in the right direction as it will enhance the competitiveness of companies which is good for the country. Incentives for electronics manufacturing and semiconductor industry will give them the much needed boost.
The thrust on agriculture, rural economy, infrastructure, tax reforms and fiscal consolidation is a welcome step. The e-platform for agricultural produce and the big expansion of ‘Digital Literacy Mission’ in 6 crore households will drive up IT consumption). The 100% tax exemptions to start-ups for three consecutive years will motivate many young Indians to become entrepreneurs. They will further create many job opportunities. The rise in spending on infrastructure, defense and housing sectors bodes well for the security industry.
Furthermore, many provisions in this budget will help to make the ongoing ‘Make in India’ initiative a great success. Overall the budget has brought clarity and ease of doing business in India. My rating is 7.5 out of 10.
