Chennai:
The Madras Chamber hailed the Union budget and said that it catered to all constituents, including corporate and MSMEs, domestic and international investors while focusing on enabling inclusive growth.
The chamber also lauded the budget for its accent on the social sectors (particularly healthcare and financial inclusion), and on the efforts to curtail black money and improve governance.
“Corporatization of Ports is a good attempt to bring professionalism and increased efficiency to compete with the privately owned ports”, said T Shivaraman, immediate past president Madras Chamber. “The higher allocation for infrastructure and introduction of tax free infra bonds, increase in threshold limit for domestic transfer pricing , deferring GAAR, monetization of gold are all welcome moves,” he says.
The indication that GST would be in place by April 2016 is a trigger of hope, he said.
On the flip side, the Chamber feels that though there is a lot of talk on Make in India, there is no clear cut measures to incentivize the manufacturing sector.
Also the increase in service tax to 14 per cent, though on expected lines, could be inflationary in the short run, it added.
The Madras Chamber hailed the Union budget and said that it catered to all constituents, including corporate and MSMEs, domestic and international investors while focusing on enabling inclusive growth.
The chamber also lauded the budget for its accent on the social sectors (particularly healthcare and financial inclusion), and on the efforts to curtail black money and improve governance.
“Corporatization of Ports is a good attempt to bring professionalism and increased efficiency to compete with the privately owned ports”, said T Shivaraman, immediate past president Madras Chamber. “The higher allocation for infrastructure and introduction of tax free infra bonds, increase in threshold limit for domestic transfer pricing , deferring GAAR, monetization of gold are all welcome moves,” he says.
The indication that GST would be in place by April 2016 is a trigger of hope, he said.
On the flip side, the Chamber feels that though there is a lot of talk on Make in India, there is no clear cut measures to incentivize the manufacturing sector.
Also the increase in service tax to 14 per cent, though on expected lines, could be inflationary in the short run, it added.
No comments:
Post a Comment