Post Budget Reaction Quote from Mitsubishi Electric India
Mr. Rajeev Sharma, Head- Corporate Services & Strategic Planning, Mitsubishi Electric India Pvt. Ltd.
|Mr. Rajeev Sharma, Head- Corporate Services & Strategic Planning, Mitsubishi Electric India Pvt. Ltd.|
“The Union Budget is a fiscally prudent budget aimed at fiscal consolidation which should lead to a stable economic growth if implemented in a planned manner. Some announcements like a new metro rail policy, abolition of Foreign Investment Promotion Board are forward looking which will provide necessary policy impetus to investor sentiments. Selective reduction of corporate tax rate for companies below Rs 500 million turnover should be a game changer as far as corporate tax inclusion is considered since this will encourage higher compliance at the lower level of the corporate pyramid where percentage of tax leakages is usually much higher. We also welcome the government’s efforts and commitment to electrification program which mentions that 100% village electrification will be achieved by May 1, 2018.”