Discipline may dampen the spirit. But it sows the seeds for success in the long term. The 2019 Budget tabled by Nirmala Sitharaman is not very different.

It’s a great time to be in the Indian start-up space. The Budget makes it clear that start-up share premium escapes the Income Tax Department’s scrutiny. While this is a move in the right direction to foster creativity and enterprise, one should be wary of the repercussions that lack of scrutiny can bring about, even if it applies only to companies that file requisite documents.

The government has stepped in to recapitalise public sector banks to the extent of ₹70,000 crore. The recapitalisation ensures that banks have adequate capital to extend credit to businesses.

Infrastructure spending by the government is expected stimulate demand in the short term, as rural pockets witness economic activity. The government’s move to invest ₹100 lakh crore in infrastructure in the next five years is another move that will augment GDP growth and more importantly create thousands of jobs.

Public Private Partnerships in infrastructure development will create greater value for money than traditional procurement.

The Budget advocates the case for adoption of electric vehicles by announcing a whopping cumulative income tax rebate of ₹1.5 lakh on interest paid on vehicle loans. While the intention here is a cleaner, greener environment, we at Apollo Hospitals are happy that it will improve the health indicators over the long term too.

The reduction of corporate tax rate from 30 per cent to 25 per cent for companies in the ₹251 crore to ₹400-crore bracket is another step that will fuel economic growth.

Overall, the Budget has introduced measures that will enhance economic growth, productivity and employment, without compromising fiscal revenue receipts.

The writer is Vice-Chairperson, Apollo Hospitals Group

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