The Budget this year has ensured that four pillars of growth, infrastructure, agriculture, public health and education continue to remain the thrust area for the government.
However the Budget belies the expectations on abolition of dividend distribution tax, considering its relevance in facilitating the flow of capital to infrastructure SPVs, through infrastructure development holding companies.
Also, instead of piecemeal extensions of tax benefits under Section 80IA to power projects commissioned on or before March 31st 2009, the Budget could have provided longer continuity of tax concessions to the power sector.
The long impending demand of the debt market participants have been met partially with the budget increasing the limit of FII investment in government securities and corporate debt.
The jury's verdict is out
A M Naik, Chairman & Managing Director, L&T
Ratings: 6/10
Kishore Biyani, MD, Pantaloon Retail
Rating: 7/ 10
Kumar Mangalam Birla, Chairman, AV Birla Group
Rating: 8/10
Adi Godrej, Chairman, Godrej Group
Rating: 8/10
S Ramadorai, CEO and MD, TCS
Rating: 8/10
