CFO, Titan Company Ltd
The goal to achieve a fiscal deficit of 4.1 per cent is a good step on the road to fiscal responsibility. Ratings will not fall and therefore rupee exchange rate could be stable. The commitment to implementing GST at the earliest is very good for business in general.
The commitment to focus on skill development (a focus area in Titan’s CSR strategy) is to be appreciated. As a corporate that serves women largely, the measures being taken towards safety and girl child education are very welcome. The thrust on infrastructure spending, particularly on roads and smart cities, will create more jobs and therefore spur consumer spend. Some relief to the common man on personal income tax in terms of increase in tax exemption limit, higher ceiling on 80C and higher deduction limits on interest on housing loans is a welcome move. However, the jewellery industry and the common man will be a little disappointed as there has been no reduction in customs duty on imports of gold even thought the CAD situation is much better now. Reduction in duty would have helped curb gold smuggling in a big way.
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