REACTION TO UNION BUDGET 2020
Apart from the
GDP estimation of 10 percent being on higher side, we see a lot of positivity
in the budget proposals tabled by Hon’ble Finance Minister Smt. Nirmala
Sitharaman.
§ Major thrust has been given to the infrastructure industry,
including railway infrastructure and railway connectivity. This will help them
revive from the sluggishness in the economy and improve liquidity in the
market.
§ The new education policy integrates education, skilling and
employability. This will help address the prevailing employment issues.
§ The proposals to support MSME industry through National Logistic
Policy, invoice financing facility and revising the audit limit to INR 5-cr
from INR 1-cr is laudable
§ The manufacturing sector will also get a boost through the investment
clearance cell and the already announced reduction in corporate tax to 15
percent
§ Introduction of smart electricity meters will help the consumers and
improve the efficiency of DISCOMS
§ Massive digital push by the government through fiber net connecting
villages will add value to rural lifestyle
§ Announcement of 112 hospitals will definitely play a major role in
bridging the gap between healthcare requirement and availability
§ The conversion of criminal to civil liabilities on Companies Act
matters will give confidence to Corporate
§ 3.5 lakh crore to public sector companies will help renew the
Banking sector and improve the liquidity in the market
§ Marginal tax benefits to tax payers will provide decent relief to
the common man
§ Abolition of dividend distributed tax will help the market
The budget
indicates that it’s a good time for companies to go for expansion and create
more employment, which calls for wider compliance requirement. With these forward looking
proposals, Aparajitha aims to grow by 20 percent in the coming fiscal.
NAGARAJ
KRISHNAN
Managing
Director,
Aparajitha
Corporate Services Private Limited
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