Budget focuses on skill development and job creation: Haresh Sippy

We appreciate government’s concern to introduce special patent regime to accelerate and support R&D activities. Government spending of approximately Rs 2.21 lakh crore and Rs 2.18 lakh crore on infrastructure projects and roads and rail projects is in line with government’s strong desire to provide for better roads and strong infrastructure in the country. Registration of company in one day for start-ups will definitely have a positive impact on the ease of doing business ranking and will create a positive sentiment even amongst the foreign institutional investors.
 
We welcome government’s renewed focus on enhancing skill development and job creation in country. Initiatives such as setting of 1500 multi skill development units and incentivising job creation through contribution of 8.3 percent in EPFO for recruiting every fresh employee are positive and commendable steps. Though our aspirations are dampened a little by less reduction in corporate tax for MSMEs. Overall, the budget upfront seems to have rationale and we believe it is formulated keeping in mind the government’s long term vision and we would like to see positive implementation on ground as well.
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Haresh Sippy is the managing director of TEMA India