Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessEconomy

Positive, growth oriented Budget 2017-18: Shanti Ekambaram

The reduction in capital gains period for real estate is a positive move, says Shanti Ekambaram, President – Consumer Banking, Kotak Mahindra Bank.

February 01, 2017 / 06:05 PM IST

Shanti Ekambaram, President – Consumer Banking, Kotak Mahindra Bank:There was a lot of anticipation and apprehension about Budget 2017. There was enough to satisfy those anticipating, and relief for those who were apprehensive. The big push to expenditure for farmers, rural sector, affordable housing and infrastructure will give a fillip to growth and employment.Putting more money in the hands of the common man through tax rate reduction, encouraging FDI, measures for education, skilling and employment of youth are all positive measures for economic growth over the next few years. A commitment to the path of fiscal prudence has been made, although fiscal deficit was pegged higher at 3.2 percent keeping in mind the need to increase public investments in the absence of private sector investments to ensure GDP growth.Reduction in corporate tax rate for MSMEs, measures to increase transparency by restricting cash transactions to Rs 3 lakh and change in framework of political funding are welcome.The reduction in capital gains period for real estate is a positive move. A big thrust to digital transactions is a step in the right direction. Overall, it is a positive budget with focus on the right segments, with an aim to increase tax to GDP ratio and targeted expenditure to give growth and employment a fillip.

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347