Good, stable budget: Ajay Srinivasan

Ajay Srinivasan
Chief, Aditya Birla Financial Services

In the past many years the industrial and services sectors have been the centre of attention. With a very large proportion of our population still dependent on agriculture, the increased attention to the agricultural sector is welcome. The budgetary measures will help in reversing the slowdown in the growth of the agricultural sector.

The raising of exemption limit for personal taxation as well as increasing the 10 per cent slab to Rs 3 lakh will go a long way in spurring consumption demand at the grassroot level.

The finance minister has also avoided denting the confidence of the corporate sector by not increasing any major taxes. This is indeed a positive in an election year. However, the hike in short-term capital gains tax could have been avoided as its proportion in total tax collection is relatively small.

Overall, the Budget is good for the social sectors, will boost domestic demand and is mindful of the slowdown in global economy. I would rate this as a good, stable Budget.