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Budget 2019 - 2020
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Mr. Partho Dasgupta, Partner/ Tax & Regulatory Services, BDO India
"Complete tax rebate up to Rs. 5 lacs is a populist measure, however it is important to understand how the loss of tax collection equaling ~ Rs.18500, will impact the overall economy, Partho Dasgupta, Partner/ Tax & Regulatory Services, BDO in India"
 
Mr. Suraj Malik, Partner -Transaction Tax/ Tax & Regulatory Services, BDO in India
"An interim budget by an interim FM still with clear focus on long term fundamentals along with targeted proposals crucial to address the current economic, political and social situation. The interim budget focused on inclusive development and tax concessions. Policy announcements for agriculture & allied activities, rural communities and welfare of the workmen is outlining the Government's vision statement for the next term."
 
Mr.Partho Dasgupta, Partner/ Tax & Regulatory Services, BDO India
Capital exemption on sale of one house property extended to two. Keeping in mind the current real estate price, the move does not look to be that beneficial for Aam Janata
 
Mr.Prakash Kotadia, Partner/ Tax & Regulatory Services, BDO India
Extending the time limit for completing affordable housing projects to earn a tax holiday under 80IBA, this will bring a breather for some projects which have struggled to complete for various reasons
 
Mr. Bhavin Shah , Associate Partner/ Tax & Regulatory Services, BDO in India
"Taking Digital India one step further, the government's focus now also includes programmes for further development and promotion of artificial intelligence which has displayed tremendous potential through numerous Indian start-ups"
 
Mr. Niranjan Govindekar, Partner/ Tax & Regulatory Services, BDO in India
"Long term focus on electric cars with continued growth of road infrastructure, indicates some of the key policy developments expected in this area. Focus and investment in the fields of biofuel and renewable energy would not only reduce dependence on conventional and scarce fuel sources but also address global environmental concerns"
 
Mr Pranay Bhatia, Partner/ Tax & Regulatory Services, BDO India
"Substantial growth in direct tax base, both in terms of number of tax payers and tax collection, should allow for reduction of direct tax rates"
 
Mr Jiger Saiya, Partner/ Tax & Regulatory Services, BDO India
"Government aims to completely digitalise income-tax return verification and scrutiny over the next 2 years, phasing out human intervention. Anonymous scrutiny assessments using a back office, if implemented well, would go a long way in improving the image of the Indian revenue system across tax payers. This coupled with the promised non-adversarial tax regime, would also enhance overseas investor confidence in the Indian tax system."
 
Mr.C.S.Sudheer,CEO and Founder of IndianMoney.com
"This is a complete budget which covers farmers, workers, pensioners and the salaried middle class. Under Pradhan Mantri Kisan Samman Nidhi, Rs 6,000 a year would be transferred directly to bank accounts of marginal farmers with less than 2 hectares of land in three installments. The assured income scheme would help farmers enjoy a respectable life. The Minimum Support Price would be increased 1.5 times which helps 20,000 small and marginal farmers making this a farmer's budget. The Government announced a mega pension scheme for workers in the unorganized sector. Workers would get Rs 3,000 a month after the age of 60, under Pradhan Mantri Shram Yogi Mandhan with contribution of Rs 100 a month. This could be the World's biggest pension scheme in 5 years. This would help nearly 10 Crore poor workers like drivers, plumbers, barbers earning a monthly salary less than Rs 15,000. Individuals earning an annual income of Rs 5 Lakhs will not pay income tax. This is a surgical strike on problems plaguing the middle class. Better still individuals with gross income up to Rs 6.5 Lakhs will not pay tax if they make investments in provident funds and prescribed equities. This could well be a godsend for the salaried".
 
Mr.Mukesh Sharma, Co-Founder and Managing Director at Menterra Venture Advisors
"The interim budget of 2019 has rightly addressed social issues encompassing the needs of the all rungs of the society. This comprises the provision of income support to farmers, affordable healthcare, especially in rural India and a boost to educational institutions with focus on science, technology and research. The focus on agriculture, healthcare and technology for the next decade is quite timely and needed. It is encouraging to see these areas listed as part of the Government's Vision 2030. The scope for working with these sectors is immense. This will definitely encourage more companies to help the people at the bottom of the pyramid towards growth and development. Menterra's impact-focused VC fund was launched to invest in and support companies that use the power of technology to improve quality of farming, healthcare and education in our country. We will work closely with the government to address the important developmental challenges for our country."
 
Mr Ajay Bodke (CEO Prabhudas Lilladher PMS)
"A bold and path breaking Budget delivered by the Modi government in its final year of the first term. Government has eschewed populist impulses in an election year & has admirably arrested the slippage in fiscal deficit to just 3.4% of GDP for FY19. The Budget provides a massive boost to the primary engine of growth i.e. domestic consumption through income tax sops for nearly 30 million low-income taxpayers and 120 million marginal farmers. This would go down in history as India's seminal march towards providing succor to the economically disadvantaged groups. Equity markets would rejoice with the force multiplying boost provided to sectors in domestic consumption like automobiles, consumer staples & durables, real estate, building materials, home improvement and retail-focussed banks & financials etc."
 
Mr. Viabhav Agrawal (VP- Head of Research and ARQ, Angel Broking)
"The budget has given a significant boost by putting more money in the hands of the middle class tax payers. It has been proposed that Individual tax payer having taxable annual income upto 5 lakhs shall get full tax rebate. In addition, the standard deduction limit has also been increased to 50,000 per year as against 40,000 currently. The overall limit under Section 80C and Section 24 for interest on home loan have been kept constant. However, since the rebate up to 5 lakhs is on taxable income, your actual exempt income can be 9,50,000 assuming that you utilize your Section 80C investments 1,50,000, NPS limit 50,000 and the home loan interest limit 2,00,000 to the fullest. Also the concept of notional rent on second home has been scrapped. TDS exemption limit on bank and post office deposits have been increased from 10,000 to 40,000 per year thereby easing tax administration for small savers. But the biggest change is on the proposed changes in tax administration over the next 2 years wherein all tax returns will be processed in 24 hours and the refunds will be processed simultaneously. It is definitely a significant budget from the income tax perspective."
 
Mr.Kailash Desai-COO, Endress+Hauser
"This year’s budget showcased and witnessed many World’s best initiatives run by Indian Government one of them being Swaccha Bharat Schemes. Inflation in December 2018 was just 2.1%, which is all time low and the fiscal deficit & current account deficit was down too. It is seen that USD 239 BN was invested under FDI which makes us an investor-friendly country. I was expecting some GST relaxation to boost the manufacturing and automation segment and we hope we get some attention in the coming time. The Government wants to expand rural industrialization using modern industrial technologies based on the Make In India approach- may be a focused approach will lead to transformation. Overall it looked to be a populist budget and we are eagerly waiting to see a New India 2022."
 
 
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