Union Budget 2015: Mumbaikars offer their reactions
The new government’s budget has evoked mostly positive reactions from people
Suyash Desai, Political Science student: This is a satisfactory budget. The Finance Minister has focused on investment and infrastructure, which was much required.
Sumit Jain, Co-Founder & CEO, CommonFloor.com: The FM has said that the government plans to build 60 million homes — 40 million in rural areas and 20 million in urban areas — by 2022 under their vision Housing for All. However, this calls for strong policy directives for which we will need to wait and watch. The proposal to introduce Black Money Law will bring in more transparency in real estate transactions.
Sivasubramanian Natarajan, MD, ThyssenKrupp Industries India Pvt Ltd: The budget seems to be more credible with higher allocation for infrastructure along with clarity in taxation structure. The proposal for five ‘ultra mega power’ projects is definitely a positive move and a big boost for growth.
Avani Davda, CEO, Tata Starbucks Limited: The Budget has outlined a positive, pro-growth and disciplined roadmap which is a welcome move for India Inc. The rationalisation of the taxation system and the focus on savings and concessions in the Personal Taxation systems, are synergies for growth. I am also glad to see the focus on employability, entrepreneurship and skill development for the youth.
Komal Ganotra, Director, Policy, Advocacy & Research, CRY — Child Rights and You: The Union Budget 2015-16 has seen sharp decline in the Child Budget. In absolute term, child budget has declined from Rs 81,075.26 crore in 2014-15 (BE) to Rs 57,918.51 crore. The overall scenario in terms of children’s share is that of uncertainty and ambiguity, since it will depend to a large extent on the priority accorded by each state to children’s issues and requirements.
Onkar S Kanwar, Chairman, Apollo Tyres Ltd: This is a truly reformist budget and I’m most heartened to see that the Finance Minister has set a solid roadmap for the Indian economy. There are big changes for business as expected and the most awaited reform — that of GST, has been finally announced. This is bound to reinvigorate industry and will make definitely make manufacturing more competitive. The additional focus on roads and rail infrastructure along with an increased spend of Rs 70,000 crore will also prove to be beneficial for the economy as well as the tyre industry.
— As told to Delaveen Tarapore