Pra­teek Gupta, Manag­ing Di­rec­tor, Ushdev In­ter­na­tional Ltd. (A lead­ing trad­ing com­pany in met­als and power in­dus­try):

Enterprise - - Economy -

In gen­eral, it is a lack-lus­tre bud­get. The bud­get has any­way given some lee­way for Div­i­dend Dis­tri­bu­tion Tax at one level when the com­pa­nies have many up­stream com­pa­nies/hold­ings and were tax­able at ev­ery level.

The elim­i­na­tion of im­port duty on Nickel ore/con­cen­trate from 2.5 per­cent and 7.5 per­cent to zero per­cent is wel­come. But the in­crease of ser­vice tax from 10 to 12 per­cent will only stoke in­fla­tion.

There is no word about cur­rency man­age­ment and also about the re­lax­ation of forex con­trols.

The bud­get con­tra­dicts on ECB avail­abil­ity on power sec­tor, while the pol­icy is re­gres­sive on in­vest­ment in gen­eral.

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