Budget 2017: Here are the reactions of India's Biz honchos!

Budget 2017: Here are the reactions of India's Biz honchos!
Budget 2017: Here are the reactions of India's Biz honchos!

New Delhi: Finance Minister Arun Jaitley on Wednesday presented the Union Budget 2017 which the government hailed as 'path-breaking' while PM Modi termed it as 'uttam' Budget.

But what did India's biz honchos think about it?

Here is how they reacted to the Union Budget 2017.

KIRAN MAZUMDAR SHAW:

The Chairman and Managing Director of Biocon felt there was 'nothing path breaking to suggest bold budget'

On the allocation of Rs 64,000 crore for National Highway, she said it was “too small an allocation to move the needle”.

Shaw however appreciated the abolition of FIBP as a 'good move'.

ANAND MAHINDRA:

The Executive Chairman of Mahindra Group tweeted that he "never make pre/post budget comments, & maintain that the budget shouldn't be seen as the main policy reform instrument".

However, there were certain things about the Budget 2017 that elated him which he tweeted about the same.

"But am elated by a)The reforms in political funding b)Merging of the rail budget c)Abolition of FIPB d)Removal of plan/non-plan labels(2/3)", he tweeted.

These steps ARE big signals about the Govt's mindset. Shows its determination to shed the skin of legacy&step firmly into the future, he added.

SUMIT SHARMA, Co- Founder, GoBOLT,

Sharma, whose tech logistic startup company pertains to logistic industry, expressed delight in the enhanced allocations made for development of highways and infrastructure.

"With record allocation in Infrastructure, enhanced allocation for development of National Highways and a focus on Transportation sector, this budget provides a much awaited impetus to improve efficiency and productivity in the Logistics sector, which would also lead to enhanced private investment in the medium-to-long term," he said.

BROTIN BANERJEE, CEO and MD, Tata Housing

Commenting on the Budget, Tata Housing Managing Director and CEO Brotin Banerjee said, "Easy and dedicated access to institutional financing, higher limit on external commercial borrowings will attract more investments and assure sustained growth of affordable housing in India, making it the core driving segment for real estate."

"On the other hand, long term financing at lower rates will reduce costs of construction for developers allowing them to pass on benefits to consumers. The new status will increase the resource allocation for the sector, catalysing housing supply and reducing the supply gap," he said.

GETAMBER ANAND, National President, CREDAI

"We must appreciate the fact that the government is very serious on the mission of housing for all and in the same light we have seen some extremely positive announcements in the budget today. Affordable housing getting infrastructure status will enable efficient supply of housing stock in the country and provide benefits associated with it," Anand said.

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