 "Budget is a step towards creating more employment avenues: Samson Khaou")
Finance Minister Arun Jaitley’s 2017 union budget is a step towards creating more employment avenues across multiple industries and pushing MSME growth.
Post demonetisation, the move to reduce corporate tax for small companies to 25 percent with annual turnover upto Rs 50 crore will prove to be a welcome relief for the cash strapped MSME sector. About 96 percent of the MSME’s will benefit from this move and it sets government’s objective clear of making India competitive globally. This will boost exports and manufacturing at large.
Further, the budget outlines initiatives like setting up of India-International skill centers and allocation of significant funds for skill development will provide employment opportunities and mitigate resource crunch across manufacturing based sectors.
We believe that the budget 2017-2018 is an all-inclusive budget and initiatives like Digital India, Start-Up India and Smart Cities need a strong technological infrastructure that will be supplemented with budgetary support from the government.
The Rs 3.96 lakh crore earmarked for the infrastructure aligns well with the vision to build connected cities via highways and railways. Budget for 2017-18 aims to carry forward the government’s thrust on taking our economy towards global standards of governance by making it more investment-friendly, fairer and transparent.
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Samson Khaou is the managing director of Dassault Systemes India
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