Mr. Somshubhro Pal Choudhury, MD, Analog Devices India.
The budget 2016 is conservative, with no big-bang reforms, essentially holding the rudder steady with a strong tilt towards infrastructure, rural, agriculture and social equality.
Tax reduction, exemptions and speedy registrations for startups, delivery of more financial services by Aadhar scheme and direct transfer of fertilizer subsidy, were all on expected lines and positive steps. Long term irrigation fund, management of ground water resources and soil health card schemes are right steps keeping into consideration our over-reliance on nature in a volatile climate change reality.
Obvious positives are the outlay on infrastructure and power sector, digital literacy for rural India and target for electrification of villages.
Allocation of a huge amount for Swacch Bharat scheme is a necessity but we need to see additional details on how and where the spend is going to be to see visible improvements. Skill Development, job creation, better governance and ease of doing business are steps in the right direction, but further details of the programs awaited.
Make in India program did not get any new and additional face lift from the budget, but it is now all about execution with the direction already set last year.
