'Budget focusses on rural ease of living'

By Mukesh Jain

"The sound bites in the first part of the budget were sweet. The stress on preventing migration from villages to cities by improved ease of living in villages and cities alike, codified labour law, a new education policy are laudable policies.
Fresh capitalisation of banks, purchase of assets of high rates NBFCs upto Rs one lac crore by banks and stricter RBI control on NBFCs and HFCs is laudable.
Sovereign global debt of India being less than 5% of GDP is great, encouraging government to borrow from global market.
Increase in 'lower corporate tax' coverage to 99.3% companies commendable. TDS on large cash withdrawals is one more step for digital India.
Increase in surcharge on higher income tax is very harsh on salaried class. Need for fixing a realistic cap on total effective income tax rate."

The author is Real Estate and Corporate Lawyer and Founder of Mukesh Jain & Associates.