The announcements made in the Budget are positive, said BD Park, President & CEO, Samsung India.

"The increase in investment limits in FDI (foreign direct investment) announced in the 2014 Budget will favorably impact the economy," he said. Significant encouragement has been provided to domestic manufacturing that will likely enhance both local production and employment, especially in the sectors of retail and e-commerce.

Measures on tax reforms such as advance rulings, tax settlement mechanisms and APA (advance pricing agreements) will contribute to improving investors' confidence and removing uncertainty regarding taxation. The introduction of an inter-quartile range in transfer pricing as well as the setting up of a committee to evaluate retrospective taxation are positive steps.

Outlays for improving infrastructure in ports, roads, airports, Smart Cities as well as education-related initiatives and the funding model resonate well with the country's growth plans," Park added.

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