News Analysis

Welcome Budget for Manufacturing & Education Sectors

SMEStreet Desk

02 Mar 2015 06:21 IST

New Update

While commenting on the manufacturing segment, Mr Bimal Tanna, Partner and Leader, Industrial Products of PwC India welcomed the Union Budget by saying “The budget is a step in the right direction insofar as the ‘Make in India’ and ‘Skill India’ campaigns are concerned. Overall, a growth oriented budget that encourages investment generation and job creation in the country. The thrust given to infrastructure development will have a positive rub off for the manufacturing sector and will stimulate growth. While some of the steps taken by the FM will certainly help in attracting investors and ease doing business in India, we would have wanted more from the FM given the spotlight on 'Make in India’ like reduction in the MAT rate for the manufacturing sector."

Highlighting the Budget from the perspective of education sector, Sameer Bora, EVP Research & Development, Next Education India Pvt. Ltd. stated, "The government has delivered a pragmatic budget. Reducing corporate tax rates will definitely give companies a boost and bring them closer to the Asia average of 21%. However, increase in service tax will still have to be passed on, the only silver lining being more allocation to education. The government's decision to upgrade 80,000 rural secondary schools will bring education to the last tier, where it's needed most. Direct bank transfer for skill building is also a very welcome step. Overall, this is a budget that aims at reducing inefficiency and giving good momentum to genuine companies."

PwC MSMEs MAT Make In India Education Academic Skill Development Manufacturing