N Chandrasekaran of Tata Consultancy Services gives their take on Arun Jaitely's maiden Union Budget and their outlook on the road ahead for the Modi government.
Tata Consultancy Services
"The Finance Minister's maiden budget signals, both in sentiment and policy, the new government's intention to drive the next generation of reforms and swiftly put India on a higher GDP growth path
It has provided key sectors like agriculture, manufacturing and infrastructure with impetus and incentives to pursue growth. It has spelt out its commitment to public-private partnerships to drive investment and encouraged retail savers to invest more in debt and equity. The FM has also acted positively to further develop quality higher education and encourage skill development programs.
For the IT sector, the budget has provided clarity on some long-pending issues in transfer pricing and offered a collaborative framework to minimise future disputes. Above all, the government has strongly signalled that we will see lot more reforms across sectors shortly. This is a positive start to a long term process. "
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