KOLKATA: The Budget has given the emphasis on the basic fundamentals - Hygiene, Housing and Highways which reaffirms and echoes the evergreen truth Mera Bharat Gaon Me Basata Hai.
Reduction in Corporate Tax from 30% to 25% for companies upto turnover of Rs 400 Cores will cover 99.3% of the Corporate Sector which is a very welcome move to reduce tax burdens on Small and Medium Enterprises and this money can be ploughed back for enhanced economic activities. Recognising the role of SME, giving the much required relief of two per cent interest subvention for MSMEs on fresh or incremental loans and the facility to make timely payments on Centralised portal are very positive steps.
There is a clear road map for Making India the factory to the world. Emphasis on Ease of Doing Business is reflected in combining multiple labour laws into a set of four labour codes. Industry is looking forward to get the details of the same.