Reactions ....

NIRANJAN HIRANANDANI, PRESIDENT, NAREDCO

Marathon Budget…failed to announce much-awaited economic stimulus to fuel kickstart of a $5trillion economy. It subsequently lacked incremental allocation inadequacies with over-emphasis on fiscal prudence and inflation target.

RAJESH AGGARWAL, MD, INSECTICIDES INDIA

The budget provisions for the agricultural sector to increase farmers' income by using fallow/barren lands to set up solar plants is an innovation and welcome step.

R. K. GURUMURTHY-HEAD TREASURY, LAKSHMI VILAS BANK

The worry is that there is no specific mention for bank recapitalisation, which, when read with RBI’s Financial Stability Report that NPLs could still haunt banks in India, could raise concern and cripple the ability of banks to lend.

KAMLESH RAO,

CEO, ADITYA BIRLA SUN LIFE INSURANCE

While, listing of LIC is a good move which will bring focus on the life insurance sector, other expectations of sector could have been met better. The insurance industry will be watchful of the implication of the direct tax changes in the new tax regime.

SIMON GEORGE, PRESIDENT, CARGILL INDIA

Government’s initiative to encourage the states to adopt the three central model laws on agricultural land leasing, agricultural produce & livestock marketing and contract farming should go a long way to get these laws implemented on ground.

KRISH IYER, PRESIDENT & CEO AT WALMART INDIA

The Budget 2020 would lead to creation of a New Aspirational India, anchored around Agriculture, Health and Education. This Budget seeks to strengthen grassroots of the economy with its positive push towards creation of a strong agriculture infrastructure.

RAJEEV CHABA, PRESIDENT & MD, MG MOTOR INDIA

We feel that the customs duty hike on EVs assembled in India from 10% to 15% is a bit harsh, as this may impact the nascent category which was beginning to expand off late.

VISHESH C CHANDIOK, CEO, GRANT THORNTON INDIA

Direct tax dispute resolution, e-invoices & refunds, taxpayers charter, no small company audit, instant PAN allocation, subordinate debt as equity, are all steps that will build trust and propel growth.

L. VISWANATHAN, PARTNER, CYRIL AMARCHAND MANGALDAS

“The announcement of Rs 22,000 crore as support to infrastructure pipeline to cater for equity support to infrastructure finance companies…to create a further financing and significant source of longterm debt for infrastructure projects is welcome.