What did you think of the Budget?
The finance minister had a huge opportunity to kickstart growth in all sectors which he hasn’t done. Without the Left, one had hoped that Pranab Mukherjee would have done much more.
What were your expectations?
Mukherjee should have brought down tariffs. For the Commonwealth Games and to bid for the Olympics, luxury needs to be part of the experience that visitors will want.
So your expectations haven’t been met?
We have the youngest population in the world and the branded goods industry can become a huge employment generator. The tariffs on branded goods are out of proportion to the rest of the world.
Any specific concern?
The finance minister wants foreign inflow but the government needs to encourage them to come.
What does the Budget mean to you personally?
The finance minister has raised tax exemption limits; the holiday for exporters is important; the surcharge on personal income tax being removed is positive.
Tikka Shatrujit Singh, Advisor to the Chairman, Louis Vuitton
