ADDENDUM : How to deal with anxiety ?
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"Worrying is carrying tomorrow's load with today's strength- carrying two days at once. It is moving into tomorrow ahead of time. Worrying doesn't empty tomorrow of its sorrow, it empties today of its strength." - Corrie ten Boom

"Man is not worried by real problems so much as by his imagined anxieties about real problems" - Epictetus

"Okay, so, flying," I started, taking a deep breath and focusing on the thing I loved most in the world. "Flying is great. It feels great when you're doing it. It's fun. Pure freedom. There's nothing better." Dylan smiled, a slow, easy smile that seemed to light up his whole face. "So the first thing we're going to do," I told him, "is push you off the roof." - James Patterson, Fang

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Kamlesh Patel, CMD, Asian Granito India
""Infrastructure status to affordable housing is the biggest positive announcement in the budget. This will help achieve government target of construction of 60 million homes under initiative of Housing for All.

Another big push for the industry is reduction of custom duty on LNG from 5% to 2.5%. Abolition of Foreign Investment Promotion Board (FIPB) will attract more FDI in real estate.

Reducing corporate tax by 5% i.e from 30% to 25% will give major relief to unogranised small scale players in Morbi-Cluster. Allocation of Rs. 23,000 cr for Pradhan Mantri Awaas Yojana and target of completing 1 crore house by 2019 will give a big boost to the tiles industry.

Proposed changes for considering carpet area instead of built up area for the scheme for profit-linked income tax deduction for promotion of affordable housing are steps in the right direction.

Special stimulus is provided in the budget to middle class, rural economy & farmers, youth & education, infrastructure & employment and thus will give big push to economy and help it achieve GDP of 8% plus in coming time. Sanitation coverage in rural India has gone up from 42% in Oct 2014 to about 60%. Disappointed that corporate tax not reduced."

Sriram S, Co-Founder and Director at iValue InfoSolutions
"We will call it a balanced budget, which will drive growth with prudence and addressing needs of the poor. The major thrust on Capex growth of 25% should drive demand. The focus on infrastructure and rural areas are welcoming. As the digitization was one of the core area for this post demonetization budget the promotion of BHIM app and plan for Aadhar based payment without mobile is an appreciable initiative. Also, limiting the cash transactions to 3L is a good step which could have been pegged at 1L. The 25% corporate tax cap for companies up to 50Cr revenue is a great step which will benefit more than 90% Indian firms. 50% personal tax reduction for 2L to 5L slab should help the emerging class. We did not hear much on cyber security with a greater push on the digital transaction, but for the creation of CERT. We still think a lot more focus is required on this front."
Shibu Paul, Regional Director (IN, GCC & SEA ) at Array Networks
"I am overall happy with the budget, the increased focus on cashless economy and move towards digitization is very much appreciable. I will call it a forward looking budget with the balanced Tax soaps, IT rebates, focus on rural areas and SME development. Also, the reduction in tax for companies with less than 50cr turnover which will now be placed at 25% is a big win for MSME sector and around 96% of the companies will be benefitted by this major announcement."
Ravi Raj, Brand Head, Director Sales & Support at NetRack
"This is overall a positive budget, which constitutes the entire element required for a progressive economy. This budget is an extension of the initiatives like digital India and make in India. The focus on infrastructure is a big push for industries, also the supporting schemes to push digitization like installing of POS machines, BHIM app, Aadhar payments as well as initiatives on digital transactions will help grow Indian economy. Apart from this, the tax reduction for companies with less than 50cr turnovers is the biggest take away for SME sector from this budget. We are hopeful for early implementation of GST, which will facilitate smooth movement of goods across India."
Anoop Pai Dhungat, CMD at Galaxy Office Automation
"Budget 2017 has traversed along expected lines on issues such as GST, demonetization and payments digitization, outlay for infrastructure sector and more. However, could have certainly been more impactful. For starters, although there are allocations for agriculture, transportation and rural housing, but budget 2017 fails to assuage concerns and challenges facing manufacturing and industrial sectors, technology or even the burgeoning Indian IT sector. Creating employment opportunities on a broader scale continues to remains a core need that could change nature of our entire consumption story. Only silver lining I can see is tax incentives for MSMEs, and liberalization of FDI policy, details of which are yet to emerge. Overall, I would term this a disappointing budget."
Dinesh Shahra, Founder and MD, Ruchi Soya Industries
"It is heartening to see the rural focus of the budget and the championship of farmers causes through the various announcements, especially the highest ever allocation to MGNREGA. The increase in Agri credit to 10 lakh crores will help ease farmers' access to funds. The focused funds on irrigation and micro-irrigation to be set up by NABARD will aid the farmers access the latest irrigation technology to counteract the uncertain monsoon. The increased coverage under the Fasal Bima Yojana will help farmers survive unforeseen factors that may affect their crop. The future looks bright with the promise of a new law on Contract farming. The denotification of perishables from the APMCs as well as the upgradation and increase of the e-NAMs will help farmers sell their produce for the best price in a transparent system. The special Dairy Processing Infrastructure Fund will encourage investment in dairy industry and help to introduce modern technology into the industry."
Rajarshi Bhattacharyya, Country Head at SUSE
"We appreciate the budget announcements and schemes launched under the union budget 2017-18. Overall, it is a balanced and growth centric budget that will drive our country to the brighter side. We respect the decision of addressing basic needs of farmers and bringing employment/job opportunities for our youths, who are pillar of the future. Focus on the infrastructure and rural areas are welcoming decisions. It encourages Infrastructure growth and will provide the perfect launch pad towards India becoming more IT consuming country The encouragement given to start ups and tax reduction to MSME is a positive step towards make in India initiative. This will ensure new age organisations to be more globally competitive. India's GDP will be on the upsurge. The 25% corporate tax cap for companies up to 50Cr revenue is a great step for MSME sector, which will positively benefit more than 90% Indian firms. 50% personal tax reduction for 2L to 5L slab will certainly help the emerging class. Giving assurance that the effects of demonetization will not spill over to the next fiscal rather will lead to higher GDP growth is what the public were expecting. The only point we feel was missed or I rather say requires major attention from the Government is Cyber security. We will look forward for some policies or schemes which can assure secured digital transactions."
Abhishek Lodha- MD, Lodha Group
"This is a budget which will enable empowerment of middle-class India, improving lives of millions. Reduction in Income Tax rates both for earners up to Rs. 5 Lakhs and MSME's, will help in increasing their purchasing power and shall also impact demand for affordable housing positively. More importantly, the simplification of rules qualifying affordable housing, tax holiday under 80 IBA and infrastructure status to this segment are significant positive moves by the government. These initiatives will in turn boost the overall economy as there will be more participation by developers in this area. Reduction in home loan rates has already proven to be beneficial for housing demand and it will further increase with the help of above measures."
T.S.Kalyanaraman, Chairman and Managing Director, Kalyan Jewellers
The reduction in taxation to 5% from 10% for salaried persons in the Rs. 2 lakh to Rs. 5 lakh bracket will provide relief and more disposable income in the hands of the consumers. The target to double farm income in 5 years will be beneficial to the sector as rural India constitutes more than half of jewellery purchases. The ban on cash transactions over Rs. 3 lakh will bring transparency and benefit organised branded jewellery players. However, we were looking forward to some relief in gold import duties and presentation of PAN card for purchases of jewellery beyond Rs. 2 lakh and above which has not found any mention in the budget.''
. Sebi Joseph, President, Otis India
"The Union Budget 2017-18 aims at comprehending the dream of building a transparent and sustainable economy by providing an impetus to rural economy, road infrastructure, airports and railways, which is a welcome move. The focus on few crucial aspects like digital and black economy augurs well. Increasing spends on capital expenditure and infrastructure, and provisions to generate more employment opportunities, are some of the few pivots that can support India's rapid growth. Provisions of a New Policy for Metro Rail and the proposed investment in making 500 railway stations disabled friendly will help provide a boost to the Elevator and Escalator industry in the long term" Sebi Joseph, President, Otis India"
Mr. Abinav Raja, Co-Founder, Lynk Logistics, a Ramco Group Company.
"This year's union budget has a strong emphasis on the logistics industry. With INR 2.41 lakh crore allocated to the Transport sector, we can look forward to improved connectivity within and across cities in India; which will ease operational costs. Along with the further emphasis on a digital economy, we will continue to see strong adoption of cashless transactions by customers in FY 2017."
 

 

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Union Budget 2017-18

Alllocation of of Rs. 2,74,114 crore for the Defence sector, an increase of 9.5% as compared to the previous year's. Defence pension is not part of the allocation.

Existing rate of tax for individuals between Rs. 2.5- Rs 5 lakh reduced to 5% from 10%

The government targets to bring 1 crore households out of poverty by 2019.

Maximum amount of cash donation for political parties will be Rs 2,000 from any one source from Rs 20,000

Limit of cash donation by charitable trust reduced to Rs 2,000 from Rs 10,000.

FM gives push to rural sector,
housing for growth recovery

Thesynergyonline Economics Bureau

NEW DELHI, FEBRUARY 01 :
Spending on rural areas, infrastructure and fighting poverty, will get a boost , said the Finance Minister , Mr  Arun Jaitley while tabling his annual budget on Wednesday, adding the impact on growth from the government's cash crackdown would wear off soon.

 

Mr Jaitley called his fourth budget one for the poor. Yet, while vowing prudent fiscal management, he also raised his 2017/18 federal deficit target to 3.2 percent of gross domestic product to cover his spending promises.

 

He said India "an engine of global growth" but highlighted risks to its outlook from likely U.S. interest rate hikes, rising oil prices and signs that globalisation is in retreat.

 

The worst of the cash crunch is now over, however, and Jaitley said he expected it would not spill over into the fiscal year starting on April 01.

HIGHLIGHTS OF UNION BUDGET 2017-18

 

 

 

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Union Budget 2017-18 reactions

 

 

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