Below for your reference is a budget reaction quote from Mr. Ankit Agarwal, Managing Director, Alankit Limited
“Union budget 2017-18 is progressive in its approach from an economic and policy reforms stand point as the key focus is on transforming, energizing and moving towards building a clean India. Much emphasis has been laid on ushering in digitally enabled transparency measures in the governance system, skilling the youth, creating more jobs, encouraging and enabling innovation and quality within the education and business sector and reviving the financial sector.
Government's move around making Aadhar cards the nodal point of digital empowerment by launching Aadhaar Enabled Payment System (AEPS), Adhaar-pay, encouraging banks to introduce 20 lakh Aadhaar-based PoS, schemes to promote the usage of BHIM and introducing Adhaar based health cards to senior citizens will encourage adoption and accelerate conversations across all consumer sets. Launch of health cards and extending 8% interest on savings through LIC is a welcome move as it would offer additional financial security and independence to a large senior populace in the nation.
GST is a paradigm shift in recent history of Indian policy framework and a definitive implementation roadmap would boost adoption across sectors. Short term exemption on CVD (countervailing duties), SAD (special additional duty) on POS would aid seamless transition. Measures like tax exemption for startups with less than 25 crore turnover working towards innovation, development, deployment or commercialization of new products, processes or services, driven by technology or intellectual property would encourage a culture of entrepreneurialism within the business economy.”
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