This budget by Modi Government lays foundation of New India; with a target to reach $5 Trillion Indian economy in few years, the Finance Minister has made several additions taking into consideration the taxpayers in affordable housing, efforts for more employment and to increase income of agriculturists. Increase in duty on petrol diesel by Rs.1 will raise additional revenue of Rs.80,250 crore for infrastructure is appreciable.
Bank’s recapitalization by Rs.70,000 crore will remove liquidity crunch. We welcome decision to levy corporate tax at the lower rate of 25 per cent from companies with turnover up to Rs 400 crore will include 99.3 per cent of the companies. Loan up to Rs.1 lakh for woman under Mudra Loan is wonderful step. This budget is definitely a budget of developed country.