Dear Sir,
For the budget reaction column.
Quote from Mr Harsh Goenka, Chairman, RPG Enterprises
"Those expecting a 20-20 knock from the Finance Minister on Budget Day were in for a surprise. The astute Mr Mukherjee has put up a solid, well-crafted Test match innings, setting the stage for five years of economic growth and development. This year's speech is more of a vision statement, a broad document outlining the government's agenda, keeping the challenges and the realities of the present context in mind.
But even so, the Budget does address several issues. It adopts 'inclusive growth' as the overarching theme, boosts infrastructure spending, and accords emphasis to agriculture. More importantly, it also puts more money in the hands of the salaried class by removing the surcharge on income tax. The removal of the Fringe Benefit Tax is great news for the corporate sector. Several policy initiatives, including major tax reforms, have been unveiled. The Budget speech also refers several times to the need for fiscal consolidation, which is heartening. The 9% growth target is laudable, given the present global economic conditions. Overall, this innings from Mr Mukherjee sets the stage for some Big Bang action in the coming years."
Regards,
Priti Dalal
Assistant Manager - Group Corporate Communications
RPG Enterprises
Landline: 022 24930621
Handphone: +91 9820860627
e-mail: pritidalal@rpg.in website: www.rpggroup.com
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