TALKING HEADS 3

(STATEMENT)

Anil Agarwal, Executive Chairman, Vedanta Resources:

The Narendra Modi government must be applauded for a pro-growth and fiscally prudent budget for the financial year 2019-20 without putting the exchequer's finances under too much pressure. This is one budget that has not only focussed on giving immediate relief to a large section of the Indian society but has also clearly outlined the vision for the next decade and building a new India that aims to provide quality life to every Indian.

Harshavardhan Neotia, Chairman of Ambuja Neotia Group:

The budget presentation by the Finance Minister Piyush Goyal has been a significant budget. Though it's an interim budget, it presents a roadmap for future India which is poised to become a USD 5 trillion economy in 5 years and aspires to become a USD 10 trillion economy in the next 8 years thereafter.

Pawan Munjal, Chairman, Hero MotoCorp

The Interim Budget had two clear target segments - the agri sector and the middle class. The announcement of the direct benefit scheme and the income tax sops will put an estimated Rs 93,000 crore in the hands of the beneficiaries. These schemes will help in boosting consumption and thereby help the rural economy.

Ashok Hinduja, Chairman, Hinduja Group of Companies (India):

It is a people’s budget with the long term vision for making India an engine of growth for world economy. The proposals would fulfill the expectations of common people, salaried class and farmers to a large extent. The distressed farmers will stand to benefit by several measures announced.

Venu Srinivasan, Chairman, TVS Motor Company:

This budget has empowered and increased buying capacity of every sector and segment of people. Tax exemption up to Rs 5 Lakh per annum income for individual tax payers is a historical step, which will provide more disposable income at hand for the working class. The decision will have an impact and there we expect more buyers of two-wheeler vehicles and in turn help the industry's growth.

SBI Chairman Rajnish Kumar:

The announcement of an assured income support scheme for small and marginal farmers is the most welcome step. Additionally, interest subvention announced for farmers pursuing animal husbandry and fishery will provide a fillip to this sector.

Raising the full tax rebate up to Rs 5 lakh will surely be welcomed by country's emerging middle class...Hiking the ceiling limit for TDS on bank deposits and small savings will act as a catalyst for this deposit segment by attracting the new depositors. To sum up, on the whole, it is a growth-oriented budget.

Ritesh Agarwal, Founder & Group CEO, OYO Hotels & Homes:

This is the Budget for a New India. The honorable interim FM has meticulously balanced priorities of various sections of our society and delivered on his government's vision of 'Sabka Saath, Sabka Vikas'. This Budget makes a strong promise to the people to India, which I hope will be backed by an equally strong delivery, especially in the areas of job creation and addressing the skill-talent gap. The announced tax breaks, together with low average inflation, are likely to spur domestic demand and spending, and inject liquidity in the market.

Baba Kalyani, CMD, Bharat Forge Ltd:

Conventional understanding is that presenting an Interim Budget just before a general election places several constraints on the Finance Minister. Within these limitations, the government has chosen the middle path by announcing measures that will positively impact a large cross section of people who deservedly require relief from the burden of taxation and also addressed issues of agrarian distress and employment, both of which will remain key priorities for any post-election dispensation.

(Tweet)

Biocon Chairperson and Managing Director Kiran Mazumdar Shaw :

An 'election year' Budget that expectedly has something for everyone, from farmers to traders, workers in unorganized sector to the salaried middle class. ..The government also did well to balance populist tone of the budget by signalling its commitment to stick to the road of the fiscal discipline. It is, however, disappointing to see the absence of any additional allocation of healthcare or incentives for Science & Technology.