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Emphasis on trade infrastructure is a welcome move in Budget, says EEPC Chairman, TS Bhasin.
He further pointed out that a cut in corporate tax for companies below Rs 50 crore turnover would surely help the small and medium enterprises, engaged in the export sector.
“The move was much-needed in view of the fact that demonetisation had created short-term pains for exporters in the SME segment and they would now get confidence and competitiveness,” the EEPC Chaiman pointed out.
The Budget’s focus, he said, was to revive investment growth in the road and rail sectors which would help exports. This apart, the proposal by the Finance Minister of a new initiative on trade infrastructure was also welcomed.
However, Bhasin called for more clarity with regard to Minimum Alternate Tax, and hoped for a further cut in bank interest rates considering their increased liquidity.
“The Economic Survey has rightly emphasised the need to give competitive edge to the export sector. As was pointed out, for realising 8-10 per cent GDP growth ambition, exports must grow by over 15 per cent. The going has become tougher in view of the trade disruptions coming from the US, Brexit and the protectionist tendencies being resorted to,” he pointed out.
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