Budget 2020: Nagesh Basavanhalli, MD & CEO, Greaves Cotton

Nagesh Basavanhalli, MD & CEO, reacting to the budget 2020 said “Today’s Budget has looked to boost the sentiment of the common Indian with emphasis on agri improvement, thrust on job creation through public infrastructure spending, skilling initiative and revision of direct tax optional provisions to lower the personal income tax slabs.”

He added “ It is hoped that efforts to increase liquidity in the financial sector, putting more money in the hands of the taxpayer and promoting start-up ecosystem should indirectly revive the manufacturing and engineering  industry. For the corporate sector, revision in Direct Taxation and amendment in Companies Act to decriminalize civil offenses can lower litigation risks and costs. The overall orientation of the Budget seems to be to energise rural economy, revive consumption, build taxpayer trust in banking system and support entrepreneurs with progressive measures.”

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