Jay Galla, Vice Chairman and Managing Director, Amara Raja Batteries
The Union Budget 2015 is pragmatic and balanced without any flamboyant statements or populist overtures. The intent appears to be striking a judicious balance between supporting industrial growth and welfare of the common man.
The roadmap for all-round growth and empowerment is clearly visible. There is encouragement for start-ups and focus on skill development in line with the 'Make in India' initiative.
The 14 statutory permissions for establishing a business under a single window scheme and commitment to implement Goods and Services Tax from 2016 are some of the positive steps towards enhancing ease of doing business in India. Steps on direct and indirect taxes, and reduction of corporate tax in a phased manner, while simultaneously withdrawing some of the exemptions and deductions, is a step in the right direction.
UNION BUDGET 2015:Full coverage
However, specific to the newly-formed state of Andhra Pradesh, not much was delivered against the promises made at the time of state reorganisation. Though there are references in the Budget to fulfill the legal commitments, it is not clear as to when and how the commitments are going to be fulfilled. There is also no mention of any special package or granting of special status to the state as was widely anticipated.
(The author is Vice Chairman and Managing Director, Amara Raja Batteries and Member, Capital Planning Commission, Andhra Pradesh)