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Interim Budget 2019: India Inc Expectations From Interim Budget 2019

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As per a leading business channels report, some of the key concerns and watch outs for India Inc in interim budget 2019 were put forth by some of the industry leading professionals and are as though:

 
Interim Budget 2019: India Inc Expectations From Interim Budget 2019

1. Agri distress needs to paid attention to: As per president of CII and vice chairman at Bharti Enterprises, Rakesh Mittal, agri distress is high and given the Narendra Modi's aggressive ambition to double farmer's income, the current situation allows it only at a slow pace. And so the approach can be incentivize more of private sector play into the area to render full support.

The report quotes him as saying, "I think there is extreme stress in the rural sector, farm sector and clearly the governments need to do much more and beyond rather than just having the policy initiatives. Because of the Federal structure, any policies which gets finalised or discussed at the national level, ultimately the implementation lies with the states. My view is that when we look at Prime Minister Narendra Modi's vision on doubling the farmers' income, it will happen at a pace very slowly in the current given circumstances. This can only be fast-tracked if private sector is highly incentivised in getting into the farm sector".

2. Direct tax rationalization: Chandrajit Banerjee, DG at CII reiterates India being a highly taxed economy and after the GST has been settled, the focus should now shift to the direct taxes and taxation should come down with an aim towards 18%.

And others expect the budget to be a feel good budget which would come up with provisions to woo the masses ahead of the assembly elections with likely sops for salaried class, pensioners etc. Also, it has been highlighted that as it is India is on to path to attain a multi-decadal growth, with tax compliance increasing and revenue leakages going down.

 

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