Public Opinion and Expert Reactions on Budget 2018

A very comprehensive budget comprising key measures that would have a positive impact on various segments including tenant farmers, 10 crore poor families, senior citizens, among others 

The policy framework earmarking over Rs 14 lakh crore for creation of livelihood in rural areas, empowering rural women will enhance the ease of living of rural masses
- CK Ranganathan Chairman & MD, CavinKare 

The government’s focus on supporting local manufacturing, skill development and a heightened emphasis on job creation will lead to greater opportunities for the youth 

Ten per cent long term capital gains would help to control the current ‘irrational exuberance’ in stock prices and is therefore a step in the right direction 

The introduction of new scheme for e-assessments across the country would lead to reduced tax administration cost and increased tax payer satisfaction

We are confident that the funds allotted towards the AYUSH sector this year will help us in bringing out cost-effective ayurvedic products to consumers

Allocation of Rs 10,000 crore under telecom infrastructure areas for easy internet access to 50 million rural Indians will help the financial inclusion initiatives of the banks.

Upgradation of rural haats to GrAMS, expanding the eNAM network and setting up agri market infra fund will take small and marginal farmers closer to their markets. 

The government expenditure may increase on account of investment outlays; however, the increase in tax collections from direct tax and GST will help to achieve the fiscal deficit target of 3.3 per cent of GDP for FY 19.

Healthcare has got a really big boost; it’ll be interesting to see if district hospitals are converted into medical colleges. This will increase scope for students as well.

Salaried staff in the sector are really going to struggle, as the government has taken medical reimbursements. People in this industry suffer from various ailments – this is a big blow for them.

The government has announced an ambitious health scheme but I wish they had thought of other means to raise funds for the same other than raising the education cess

Schools The lack of any mention of promoting women’s inclusiveness at the workplace is disheartening. This will further increase the discrimination against women’s employability and make it difficult for companies that are striving for gender equality.

High tax (GST) on the EV components still remains a big concern for the industry, which this budget must revise to 5% for all the EVs components

 - Hemalatha Annamalai, CEO & Founder, Ampere Electric Vehicle  

Government’s flagship schemes to provide better healthcare to people requires access to advance healthcare technology. Centre should have looked at incentivising import of advance medical devices by bringing down customs duty.

Bitcoin investment was such a rush recently, but by terming it illegal tender and that they will do everything to end crypto currency use, the Finance Minister has ended a fledgling market. 

The move to impose tax on long-term capital gains as well as dividend distribution could pose as a small hurdle for investment flows into the mutual funds. 

The housing, real estate and construction sector which contributes 1/10th of the GDP, creates maximum employment and has a multiplier effect on other sectors, has been grossly ignored.

More than 80 per cent of mobile phone demand is met locally but premium, high-end smartphones still depends on imports which will get hit by proposed increase in duty.

Increasing custom duty on the import of auto component parts will be big a dampener for the auto component marketplace, which the Finance Minister must reconsider waiving.