Budget 2018: Jaitley told don't kill cryptocurrencies in India; here's why Bipin Preet Singh, Co-founder of e-wallet MobiKwik, reacted that "the government should consider regulating cryptocurrencies than curbing their use entirely". Jaitley gives Defence budget 8% hike, unlikely to even cover rise in cost The 2018-19 Budget has raised defence allocations from the current year’s revised estimate of Rs 3.74 trillion to Rs 4.04 trillion, an increase of Rs 303.61 billion, or 8.1 per cent, which, analysts say, is insufficient to even cover year-on-year inflation in manpower and equipment costs. Niti Aayog vice chairman Rajiv Kumar backs Budget 2018 Rajiv Kumar said that 'It's up to the Finance Minister and the Prime Minister to take a call on suggestions given to them, but if anyone is under the impression that this last budget will be a populist one then they're wrong. 2,706 BSE-listed companies to gain from cut in corporate tax rate Over 2,700 companies listed on the Bombay Stock Exchange (BSE) are likely to gain from the proposed cut in corporate tax rate to 25% proposed by Budget 2018 from the existing 30%. Kerala Budget: GST disappointing, benefits only corporates, says state FM The Kerala government on Friday said GST was highly disappointing and that it benefited only corporates. Meanwhile, the state, which tabled its Budget for 2018-19, has said fiscal deficit will be reduced to 3.1 per cent in 2018-19, while revenue deficit will be reduced to 1.6 per cent Thomas Isaac in the budget speech said the main issue with GST is lack of a full-fledged administrative system. "Demonetisation was an ‘Ockhi’ (cyclone) on the economy. End consumers are not getting the actual benefits of GST as corporates are making the most out of this," he said. Jaitley budgeted Rs 2.48 billion for 2018-19 for the purpose of conducting elections. The EC had spent Rs 1.18 billion on conducting elections in the current fiscal, according to revised estimates of 2017-18.
Here are some reactions on Budget 2018 from industry-experts
Technology
Arvind Bali, CEO, Videocon Wallcam
The budget has a clear push towards socio-economic growth of the country with aggressive focus on agriculture, education, rural economy, healthcare and infrastructure. The allocations aimed towards rural India will increase consumption which boost industries and help in nation building. Focus on digital solution and new age technologies is a big push in terms of creating the right environment for the next level of development in India. The increase in customs duty will further boost 'Make in India'.
Real Estate
Group Satellite
"Disappointing budget from the perspective of private sector involvement in creating mass housing stock that will make homeownership a reality for all Indians. Budget has unfortunately ignored the stressed and vilified real estate sector that is in desperate need of Government support through specific targeted tax breaks that help make building affordable homes in India viable." - Sarjan Shah, MD, Group Satellite.
Pacific India Group
"The budget this year is a boost to 'Make in India' initiatives and aimed at a progressive development of the rural economy and growth of the entire country. The focus on infrastructure, social inclusion and progress, education, agriculture and healthcare are steps in the right direction. Though there is not much in terms of addressing the problems faced by the realty sector but the move towards no adjustment in case of the circle rate not exceeding 5 % of sale consideration is a welcome move. Standard deduction for transport, medical reimbursement for salaried taxpayers and incentives for Senior citizens will help increase disposable income at hand." -Abhishek Bansal, Executive Director of Pacific India Group.
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