Post Budget Reactions from Abhishek Goenka, Founder & CEO - IFA Global

'There was a lot of speculation doing round that the finance minister would bring out a populist budget; but has snubbed all of the speculation and focused more on prioritizing on investment, growth and job creation. With the number of start-ups coming in the last couple of years the finance minister proposed to bring in amendments in companies act to improve the environment of doing business. In line with expectation he focused on reviving slow rural demand growth wherein the government allotted Rs.87,765 crores. An additional 10% tax will be levied on dividend in excess of Rs.10 lakh is slightly negative. But at the same time in a step to promote new manufacturing companies incorporated on or after March, 16 will be taxed at the rate of 25% +surcharge and cess; the idea of doing away with exemptions makes corporate taxation transparent and is a step in the right direction.' said Abhishek Goenka, Founder & CEO,IFA Global.

Source : Equity Bulls

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