Published in:
Economic Times
Pubished on:
1 Mar 2016
Sometimes, no bad news can be considered as good news.With none of the much-feared negatives making it to the Union Budget (no increase in time frame for long term capital gains or super-rich tax or any hike in basic excise duty, it remained more of a neutral event in my view.
I term it as neutral because in his second Budget presentation as FM, Jaitley had ample time to deliver a dream Budget - one that would have simplified taxation, guided on GST, reduced corporate tax by 1% as promised and cut on non-Plan expenditure. However, hardly any relief was given on direct Tax (in fact there were some roll-backs for corporates), possibly due to only 6.6% revenue growth, which was half of the budgeted growth.