Budget 2016-17 is focused on building ground for the future – Anand Rathi, Chairman – Anand Rathi Financial Services Ltd

Budget is focused on building ground for the future – Anand Rathi, Chairman – Anand Rathi Financial Services Ltd

Views of Mr. Anand Rathi, Chairman – Anand Rathi Financial Services Ltd on Union Budget 2016

The UNION BUDGET 2016 presented by the Finance Minister, in my view has adopted a proactive approach. The immediate-term focus of the budget seems to be to support growth through consumption (particularly rural consumption). The Budget hinted at fundamental bottom up development approach, which, in a longer term will facilitate sustainable growth.

Positives:

·         Fiscal deficit and market borrowings has been kept under control, enabling savings to come to private sector

·         As expected the focus of the budget has been on agriculture and the rural economy, significant thrust to roads and railways, focus on job creation and entrepreneurship

·         Simplification of tax procedures is another positive from the budget

·         Focus on skill and entrepreneurship development and job creation

·         Focus on improving corporate governance of PSU banks is the move in the right direction and can have more impact on the state of Indian banking as compared to PSU capitalization at the current juncture

·         Development of G-Sec and Corporate Bond Market

Negatives:

·         Additional 10% Tax on Dividend Income above Rs 10 Lakhs

For further information please contact:

Corporate Communication Team – Anand Rathi Financial Services Ltd

Vidhi Mehta: 99203 16932, 022- 4001 7168

Jayesh Shinde: jayeshshinde@rathi.com, 98690 71999  9867779919

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