 "Reduction of custom duty on petroleum is a good move: Nikunj Dhanuka")
Integration of the public sector oil majors into a single entity company is a big move in the right direction. Also, cutting corporate tax to 25 percent for the MSMEs is a boost for the segment.
We feel the government could have rationalised personal income tax rate further. Sticking to the fiscal deficit of 3.2 percent shows the government’s commitment and focus towards the fiscal deficit goals.
In the rural sector, more spends on the infrastructure & agriculture will put India on the growth path in the coming years. The key to success is in the implementation of the schemes efficiently. Further, the reduction of custom duty on petroleum is a good move, which will benefit the petrochemical sector a lot.
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Nikunj Dhanuka is the managing director & CEO, IG Petrochemicals Ltd
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